State Corporations in the Federated States of Antarctica
The system of state corporations in the Federated States of Antarctica is a unique type of socialism that allows a communist/socialist economic system to work within a capitalist world.
In 1971, the United States Congress passed the Alaska Native Claims Settlement Act. The act divided the state of Alaska into 12 regional areas and created 13 regional corporations to administer those areas (the 13th corporation is allotted to Alaska Natives no longer living in Alaska at the time of the passage of the Act). Alaska Natives alive at the time enrolled in the Native Associations and received 100 shares of stock in the respective corporation. Native corporations were created to administer the land and the subsurface rights in the regions in which they cover. However, virtually all have expanded into business enterprises. The system of Antarctic state corporations is based on the ANCSA model.
Under the Antarctic system, each state resident has the option of enrolling in the State Corporation for a modest investment. Only one share of stock can be owned per person. The corporations own all land, structures, energy resources, and agricultural and manufacturing industries within the state that they cover. Each shareholder has an equal vote in corporate elections, as well as the right to receive an equal share of the profits earned by the corporation. State corporations are expected to branch out internationally and operate subsidiaries in capitalist countries. This will be an important source of revenue for the state corporations. Essentially, the subsidiaries will operate as capitalist businesses in capitalist countries to help support a socialist system in socialist Antarctica.
What makes the socialist system in the Federated States unique among socialist countries is that the state corporation is an entirely separate entity from the state itself. State, local, and Federal governments will operate very much as they do in capitalist countries. The corporations will be taxed substantially, however.