18 Sep '12, 8pm

Every Alaskan will receive $878 from the state this year, including opponents of socialism

Every Alaskan will receive $878 from the state this year, including opponents of socialism

Residents of Alaska, the state once governed by conservative firebrand Sarah Palin, will each receive $878 from the state’s Permanent Fund this year. The Permanent Fund was created in 1976 to collect and distribute revenues Alaska generates from publicly owned resources: sales of oil and natural gas, etc. In other words, it’s an example of the government holding a resource and distributing the proceeds from that resource to the entire population. It’s like — what’s a good example? — it’s like how some entire nations used to maintain ownership of businesses and then distribute goods and services from those businesses to the citizenry. There’s a name for that sort of government that escapes me. The oil industry wasn’t as good to Alaska this year as in years past. The peak of the government’s munificence came in 2008, the same year that then-Gov. Sarah Palin ran for vice pres...

Full article: http://grist.org/news/every-alaskan-will-receive-878-from...

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