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Southern New Hampshire University *

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100 Q2948

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Economics

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Jan 9, 2024

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The statement I chose was: ANCSA and the Native corporation system have been bad for Alaska Natives. I chose this statement because in the first 20 years, ANCSA lost over eighty percent of the original cash payment. For at least the first twenty years of operation—from 1973 to 1993—the economic performance of the regional corporations was surprisingly poor. Through1993, these corporations as a group lost about $380 million, or more than eighty percent of their original cash endowment, in direct business operations. Only the one-time sale of old-growth timber and other natural assets and a one-time tax windfall allowed them to report positive accounting income (Berardi, 2005). However, after the discovery of oil, and the ANCSA agreement boost to the economy of Alaska, changes started to happen. The APF has been able togenerate over fifty-one billion dollars along with providing a yearly dividend to all qualified Alaskans. This payment was two thousand and seventy-two dollars for every woman man and child in the state. The companies that have grown into successful businesses provide thousands of jobs for Natives in the area. I think a better statement would be: Even though the Alaska Native Regional Corporations and the Native corporation system had a bad start, it changed paths and has been good for Native Alaskans. The ANCSA depended on many events that resulted in it’s passing. The first and most crucial event was the purchase of “Russian America” from Tsar Alexander II of Russia by the United States in March of 1867. Next, The Alaska Federation Natives (AFN), was founded to advocate for a fair and comprehensive settlement to the land-claim issue. This event led the federal government to shut the process of selection down and led to Alaskan Natives and the state of Alaska reaching an agreement. Last, was the discovery of oil at Prudhoe Bay. This led to the building of the Trans-Alaska Pipeline which carried oil to the lower forty-eight states.
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