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Applying the Alaska model in a Resource-Poor State: The Example of Vermont

In: Exporting the Alaska Model

Author

Listed:
  • Gary Flomenhoft

Abstract

Sovereign Wealth Funds (SWFs) are typically found in states or countries with great oil wealth such as Abu Dhabi, Saudi Arabia, Norway, Alberta, and Alaska. The Alaska model might be perceived to apply only to states with oil. Yet SWFs can be based on other valuable resources such as copper (Chile), diamonds (Botswana), or even phosphates (Kiribati). In the United States, the state of New Mexico has three SWFs, the Land Grant Permanent Fund (mineral resources and surface land), Severance Tax Permanent Fund (minerals), and Tobacco Settlement Permanent Fund. Wyoming has a fund from coal, oil, natural gas, oil shale, and other minerals, and Texas has a fund based on royalties and rents from oil, gas, and valuable minerals on public lands.2 Of the 50 or more SWFs around the world, only Alaska’s pays a small dividend or basic income to residents. The perplexing reasons for this have been further explored by Angela Cummine in chapter 3 of this volume.

Suggested Citation

  • Gary Flomenhoft, 2012. "Applying the Alaska model in a Resource-Poor State: The Example of Vermont," Exploring the Basic Income Guarantee, in: Karl Widerquist & Michael W. Howard (ed.), Exporting the Alaska Model, chapter 0, pages 85-107, Palgrave Macmillan.
    • Handle: RePEc:pal:etbchp:978-1-137-03165-5_6
    DOI: 10.1057/9781137031655_6
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    Cited by:

    1. Widerquist Karl, 2015. "The Piketty Observation against the Institutional Background: How Natural is this Natural Tendency and What Can We Do about it?," Basic Income Studies, De Gruyter, vol. 10(1), pages 83-90, June.

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