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Introduction: Success in Alaska

In: Alaska’s Permanent Fund Dividend

Author

Listed:
  • Karl Widerquist
  • Michael W. Howard

Abstract

Every year, every Alaskan gets paid. Every man, woman, and child receives a dividend as a joint owner of Alaska’s oil reserves. In 1956, Alaska ratified a constitution recognizing joint ownership of unoccupied land and natural resources. In 1967, North America’s largest oil reserve was discovered in publicly owned areas on Alaska’s North Slope. In 1976, the state government voted to dedicate a small part of its yearly oil revenues to a state investment fund, called the Alaska Permanent Fund (APF). In 1982, the state government voted to distribute part of the returns from that fund as a yearly dividend, called the Permanent Fund Dividend (PFD), sometimes called “the Alaska Dividend,” to every Alaskan. In 2008, the dividend (plus a onetime supplement of $1,200 from that year’s state government budget surplus) reached a high of $3,269, which comes to $16,345 for a family of five. More often in recent years the PFD has been between $1,000 and $1,500 per person, which comes to between $5000 and $7500 for a family of five.

Suggested Citation

  • Karl Widerquist & Michael W. Howard, 2012. "Introduction: Success in Alaska," Exploring the Basic Income Guarantee, in: Karl Widerquist & Michael W. Howard (ed.), Alaska’s Permanent Fund Dividend, chapter 0, pages 3-11, Palgrave Macmillan.
    • Handle: RePEc:pal:etbchp:978-1-137-01502-0_1
    DOI: 10.1057/9781137015020_1
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    Citations

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    Cited by:

    1. Daemen Josette, 2021. "What (If Anything) Can Justify Basic Income Experiments? Balancing Costs and Benefits in Terms of Justice," Basic Income Studies, De Gruyter, vol. 16(1), pages 11-25, June.
    2. Paul Foley & Karen Hébert, 2013. "Alternative Regimes of Transnational Environmental Certification: Governance, Marketization, and Place in Alaska's Salmon Fisheries," Environment and Planning A, , vol. 45(11), pages 2734-2751, November.
    3. Fischer Yannick, 2020. "Basic Income, Labour Automation and Migration – An Approach from a Republican Perspective," Basic Income Studies, De Gruyter, vol. 15(2), pages 1-034, December.
    4. Clark, Jill K. & Jablonski, Becca B.R., 2022. "Managing across boundaries for coordinated local and regional food system policy," Food Policy, Elsevier, vol. 112(C).
    5. Pinto Jorge, 2020. "Environmentalism, Ecologism, and Basic Income," Basic Income Studies, De Gruyter, vol. 15(1), pages 1-12, June.
    6. Bernard Michael Gilroy & Julia Günthner, 2017. "The German Precariat and the Role of Fundamental Security - Is the Unconditional Basic Income a Possible Solution for the Growing Precarity in Germany?," Working Papers CIE 109, Paderborn University, CIE Center for International Economics.

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