A Permanent Endowment for the United States

Karl Widerquist

Chapter Chapter 11 in Exporting the Alaska Model, 2012, pp 163-167 from Palgrave Macmillan

Abstract: Abstract In the opening chapter of this book, Michael W. Howard and I defined the “Alaska model” as a (1) resourced-based (2) permanent endowment (3) used—at least partially—to fund unconditional cash dividends to all citizens or all residents. This chapter focuses on the second feature: the permanent endowment. Extrapolating from Gary Flomenhoft’s estimates for Vermont,1 this chapter argues that the United States can create a permanent resource-based endowment that could finance both a substantial dividend and a significant portion of government spending, perhaps nearly all government spending. Of course, a major jurisdictional issue would appear if the state and the federal governments of the United States were to attempt to create an endowment out of the same resource revenue at the same time. This chapter does not address that issue, but readers should be aware of it.

Keywords: Government Spending; Resource Endowment; Resource Rent; Basic Income; Sovereign Wealth Fund (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:etbchp:978-1-137-03165-5_11

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DOI: 10.1057/9781137031655_11

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