The Alaska Permanent Fund, established by a Republican governor nearly a half-century ago, has allowed Alaskan residents to share in the profits from oil and mineral extraction in the state.
As the New York Times explains, “Similar socialized funds — sometimes called sovereign wealth funds — are common in other conservative states." In fact, The National Interest reports that “The great majority of states that have a domestic sovereign wealth fund are solidly Republican states." Texas, Wyoming, and North Dakota, for example, all maintain multi-billion-dollar public wealth funds.
