There is at least one strong example of a system like this. In the U.S. state of Alaska, that takes the form of a special oil dividend, known as the Permanent Fund Dividend, which has been paid directly to all residents of Alaska on an annual basis since 1983. The fund has grown from an initial $734,000 in 1977 to $74.5 billion in the market value of its assets in 2022.
The underground dividend — the Alaskan model
I strongly believe that it is the quality of institutions that essentially determines whether natural resource abundance is a blessing or a curse. In a number of states, like Australia or
Norway, which had strong democratic institutions before the commodity boom, they were able to direct resource rents towards building a resilient economy underpinned by the rule of law — those institutions were not corrupted by resource rents. Is it possible to replicate this success in countries where institutions and civil society are less robust? How to avoid falling into the trap of political autocracy fuelled by resource rents? Several economists have suggested that resource economies should distribute part of their natural resource revenues directly to their citizens — so that the rents are not channelled via the government apparatus.