Here’s a fascinating article in Evonomics about how the commons and economic rent generally can be captured by governments and redistributed through a dividend. Our ask for capturing the value of minerals (economic rent), saving it and distributing the income is merely a single case in what is possible. The cap-and-dividend proposal by Our Children’s Trust is also merely a single …
Tag: Permanent Fund
Seed money for the All India Permanent Fund?
The CAG reports that some Rs. 9,307 crores is recoverable from Reliance on account of the KG basin operations. As the block is offshore, the minerals are owned by all the people of India. Our share is Rs. 74 each. But we must stop cheating our children and future generations. Let’s use this money to start off the All India Permanent Fund. Would anyone …
Announcing the Goenchi Mati Creatathon
Kokum, a design non-profit, is hosting a Creatathon for the Goenchi Mati campaign. We are thrilled! Its all day on sat&sun, 16&17 July, 2016, at the Design Center, Porvorim. There is also a talk on thursday 7th July, 2016 at 6:30pm the same venue introducing the idea and updating everyone on the current status. Be creative & have some fun if …
Is Jay Hammond having the last laugh
Alaska’s Permanent Fund and the Permanent Fund Dividend was the brainchild of Jay Hammond. The origins of the idea was from the sharing of the income from salmon runs (a renewable resource) in the area he lived. It was extended to the creation of a Permanent Fund from the receipts from oil (a non-renewable). His intention was to keep the oil money …
The village with its own Permanent Fund
The tribal village of Mendha in the panchayat of Lekha (Mendha Lekha) in Gadchiroli district, Maharashtra has been at the forefront of self-governance. Their famous slogan is “Dilli Mumbai Amcha Sarkar, Amache Ganavat Amhich Sarkar” (In Delhi and Mumbai is our Government, In our village we ourselves are the Government). From the 1930s itself, the village has been fighting for its rights …
Mesa County, Colorado sets up a Permanent Fund
In the US, the land owner owns the sub-soil mineral rights. However, the federal government is a substantial land owner. The federal government distributes some of its royalties to the County. The Mesa County Federal Mining Lease District Board of Directors explains why it is setting up a Permanent Fund, in contrast with the state of Colorado: “In Colorado all these …
Permanent Fund model for Ethical Mining
CSDS (the Center for the Study of Developing Societies) conducted a seminar on “Permanent Fund Model for Ethical Mining: Lands, Livelihoods and Intergenerational Equity”. Held in partnership with Goa Foundation and Inclusive Media for Change, the seminar was held in India International Center, New Delhi on Feb 18 & 19, 2015. A detailed report on the discussions can be downloaded …
Scroll : Goa mining judgement is a first
A beautiful, albeit dated, summary by Mridula Chari of the unprecedented nature of the Goa mining judgement for we the people, our children, and our future generations. “Observing that natural resources belonged to the state, which is a trustee of its citizens, the court ordered that a part of the profits from the sale of iron ore be set aside for a permanent …
P2P Foundation blogs on the Goenchi Mati campaign
David Bollier, author, activist, blogger and consultant on the commons, calls the Supreme Court order in the Goa mining case setting up the Permanent Fund as a bold precedent, “the first time that a court anywhere had ordered such a remedy, and it resulted in the first permanent fund in India.” Something Goa should be proud of!
Avoid resource curse through Permanent Funds – Brookings
The Brookings Institute has recommended that US states Pennsylvania and Ohio establish Permanent Funds from their taxes from oil & gas fracking. This is similar to our proposal relating to the Goenchi Mati Permanent Fund. Devashree Saha & Mark Muro in their report titled “Permanent trust funds: Funding economic change with fracking revenues” advance five elements of good fund governance and management …