Hot take (I assume):

A sovereign wealth fund is v bad for free market capitalism.

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Perhaps, but the scope of a sovereign nation is wider than optimizing for the free market.

Cheap stuff is not all that’s needed for a thriving society.

I'm worried less about the cheap stuff and more about the prospects for liberty.

There are always trade offs. Personally, I don’t think a SWF will limit people’s ability to do what they ought. Time will tell