When the world’s eight richest people hold the same amount of wealth as half of the remaining seven billion, it is clear that extreme income inequality is a fact of life. Economists and experts all have their ideas on how to narrow the wealth gap, but as writer Scott Santens notes in this enlightening article, the US state of Alaska may be on to something. Its Permanent Fund Dividend allows all Alaskans to reap the financial benefits of the state’s natural resources. And therein perhaps lies the seed of new ways to tackle wealth inequality. getAbstract recommends this intriguing report to politicians, economists and anyone looking for inequality solutions.
In this summary, you will learn
- Why wealth inequality has been on the rise,
- Why Alaska’s system of distributing an annual cash dividend to its citizens helps curtail income inequity, and
- How rents paid to the public on natural and social assets can help close the wealth gap.
About the Author
Scott Santens is a writer, blogger and advocate for a universal basic income.