Our Fund Goes Global

Alaska’s most original and best export…

The Permanent Fund and dividend are a phenomenal example worldwide of saving resource wealth, managing it well, and citizens benefiting equally from commonly held assets. Alaska is a leading democratic state to accomplish this. Let’s protect this successful governance of wealth in the Commons that’s inspiring the world.

The Permanent Fund has been a model for states and nations like Goa, India. The people of Goa have made great progress to establish a Permanent Fund, inspired by Alaska’s model, with citizen dividends from their mining wealth. After years of brutal corruption in government and illegal mining companies looting their resources and environment the people are rising up to claim their rights for current and future generations. It’s estimated that about 95% of the value of mining was lost and huge profits were made when demand for iron ore went sky-high during construction for the 2008 Olympics in China. Now, Goans are proposing saving 100% of resource profits in their Fund. We can learn from the Goan’s vision, dedication, and advocacy for their citizens, environment, and Permanent Fund shareholder rights. This video tells their story:

Mongolians have been fighting for years for a fund from their rich mining resources “similar to the Alaska Permanent with dividends for citizens.”

At least 40% of residents live in poverty. Their politicians agreed and now mining companies are demanding fees that will stop dividends to Mongolians. Their fight continues.

The protesters, many from rural areas and the slums of Ulan Bator, demanded that the government of the Mongolian People’s Revolutionary Party and the Mongolian Democratic Party fulfill promises from the 2008 elections to crack down on graft and better distribute the country’s mining wealth.
Read full story – More Than 10,000 Protest In Mongolia

Gov. Jay Hammond and Dr. Vernon Smith promoted a Permanent Fund for Iraq. Political instability has sabotaged progress, but it is still a possibility since the Iraqi Constitution mirrors Alaska’s by giving citizens collective ownership benefit from resources. (1 of 3 videos)

Todd Moss with the Center for Global Development in Washington, D.C. does research on Oil-to-Cash transfers happening in Alaska, Mexico, and Mongolia and potential candidate countries to benefit from this system and avoid the resource curse where money is misused and raided, instead of saved and used for the common good of citizens.
http://www.cgdev.org/expert/todd-moss