Friday, September 05, 2008

The Alaskan Free Lunch

The hot news awaited eagerly every autumn in Alaska is the size of the dividend to be paid to all citizens of all ages. Paid from a fund built up from the earnings of the state's oil royalties. Last year it was US$1654, so that a family of four received $6616 all without any means-testing.

The payment has rocketed from a low point of $846 in 2005 due to the soaring oil price. With the spotlight on Sarah Palin as the Republican vice-presidential candidate in the forthcoming US elections, maybe this amazingly enlightened citizen-based legislation will be examined by other governments around the world.

The current economic system shows ever more clearly its signs of failure with the most hurt being felt by ordinary people. Should we not consider Alaska's pioneering example of the last 26 years and consider the basic right of all to an annual cash-in-hand share of national wealth? Alaska is showing the way forward here.

It is all explained simply and clearly in the book: The Free Lunch - Fairness with Freedom (see link on left).

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