Thursday, July 23, 2015
Contrary to regressive spin, it is alive and well in America. E.g., the Alaska Permanent Fund, established by a Republican governor, is a publicly-owned oil and mineral extraction operation that provides dividends to State residents. The Texas Permanent School Fund uses publicly-owned land and mineral rights to underwrite education. The Tennessee Valley Authority is a publicly-owned utility that provides electricity to nine million customers at lower rates. "There are, in fact, already more than 2,000 publicly owned electric utilities that, along with cooperatives, supply more than 25 percent of the country’s electricity, now operating throughout the United States." Their efficiency compares with private industry and such operations reduce costs, prices and taxes. Socialism works.