The 2023 PFD allocation has been unveiled, and this year, over 600,000 Alaskans will receive a dividend of $1,312. Notably, this falls far short of the anticipated amount of approximately $3,800 according to the statutory formula or $2,600 under the 50/50 plan.
For those who have been following my journey, you're aware of my strong emphasis on the PFD in 2020. However, if you've been keeping up with me over the past year and a half, you've observed a shift towards discussing the broader economy. My support for the PFD remains unwavering, but it's intrinsically connected to the deeper structural challenges that have plagued our state for decades. These challenges not only hinder our economy but also encourage the state government's reliance on the PFD.
Apart from the PFD, the critical issue at hand is how this structure hampers our economy. It discourages individual initiative by assuming that the majority of significant decisions should be centralized in Juneau, rather than empowering individuals to make choices at a personal level. In most economies, progress results from numerous small decisions made by business owners, which collectively shape the entire economic landscape. Natural resource-based economies in the United States typically have mechanisms to distribute natural resource wealth to individuals, enabling them to reinvest it across various sectors, thus fostering growth and diversity.
In contrast, our state finds itself constrained by a few major decisions made by a select few in one location, due to the concentration of natural and financial resources in the hands of the state. This approach neglects the untapped knowledge and vitality that average Alaskans could bring to our economy because it places undue importance on the individuals in Juneau.
During the ongoing PFD discussions of the past eight years, many Alaskans have felt disregarded by Juneau. Some politicians have even suggested that people squander their PFDs and indulge in revelry come October. These sentiments are mere reflections of the overarching problem. They highlight the prevailing perception that in our economy, individual voices and contributions are marginalized while decision-makers in Juneau take precedence.
