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I agree. I would go even farther. I think that governments should be funded by investment funds that are financed by revenue from resource utilization. Ideal
by tastyfreeze 5y ago
I agree. I would go even farther. I think that governments should be funded by investment funds that are financed by revenue from resource utilization. Ideally, the investments are in local businesses and resource development. I am from Alaska. If Alaska had also set up a government fund at the same time to finance government the state would not be in financial trouble now. Alaska didn't do that and oil revenue was directly used to fund government. Now that oil revenue has decreased substantially there is nothing to fall back on.
The greatest tool for building wealth is time. That is an asset that organizations have that individuals do not. Look at the endowments of top tier universities. There is no reason that governments can't do the same and benefit from the long lifespan of a non-human entity.
This has the benefit of aligning government interests with the interests of the people. It also makes government more supportive than punitive as revenue only increases by cultivating an environment for business to flourish.