Guest Editorial: It's only permanent if we change it

The Alaska Permanent Fund has prospered for almost half a century, growing ever more important for the state’s future. What started as a source of pride and prudence — showing the naysayers going back to statehood that Alaska can manage its money and save for when oil revenues go into decline — the fund has matured into the single-largest consistent source of income for public services.

It has profited from good investments through a diversified portfolio.

It has prospered from strong public support, protecting it from dumb ideas like writing a big check to build an uneconomic North Slope gas...