New Economy

How To Build A Global, Moneyless, Interest-Free Trading System

August 7, 2019 By Matthew Slater, Lowimpact.org Create! Currency, New Economy, Trading

The idea of societal collapse is very undefined. What I do believe is that it’s too late to avert catastrophic climate change, and so we’re headed towards 2, 3, 4 degrees of warming and destruction of most global ecosystems, on which we depend for our food and for everything else. So I think that regardless of that you, I or anyone is able to do in the next 5-10 years, we’re going to see a large-scale destruction of our way of life. So we need to be thinking in terms of resilience and adaptation rather than mitigation.

A Wealth Tax Might Be Easier to Implement than You Think

August 6, 2019 By Steve Wamhoff, Institute on Taxation and Economic Policy Strategize!, Uncategorized New Economy, Taxes, Wealth Tax

A direct federal tax on wealth, as described in a January report from ITEP and proposed by Sen. Elizabeth Warren, could raise substantial revenue to make public investments, curb rising inequality, and is supported by a large majority of Americans. But would it work? Recent research highlighted in a new academic paper outlines approaches that would make it easier than you might think. At the outset, it is helpful to remember why we need a federal wealth tax and what the challenges are in implementing one. The nation’s income tax by itself fails to place a sufficient constraint on growing economic inequality. Our income tax simply does not tax all types of income that wealthy people have.

What Medicare For All Would Have Meant A Decade Ago

August 6, 2019 By Jarod Facundo, Inequality.org Educate! Health Care, Medicare, New Economy

For years my aunt Sylvia knew something was wrong. She told doctors she was experiencing pain, but they shrugged it off as age-related. Sylvia sought preventative care in the emergency room, where, like other Medicaid recipients, she knew she would eventually be seen by a doctor. But still, she found herself misdiagnosed and undertreated. Sylvia joked often with my mom that those on Medicaid were considered disposable in the emergency room. I remember overhearing her say “los ricos don’t have to worry como los pobres.”

100 Years Ago, Farmers And Socialists Established The Country’s First Modern Public Bank

August 3, 2019 By Thomas M. Hanna and Adam Simpson, Inthesetimes.com Create! Farming, New Economy, Public Banks, Socialism

One hundred years ago July 28, a bank in Bismarck, N.D., opened its doors for the very first time. This would have been an unremarkable event, likely lost to history, except for the fact that it was a public bank, owned by all the residents of the state. A century on, the Bank of North Dakota (BND) is still the only publicly owned bank in the continental United States (a second public bank was recently established in American Samoa)—though potentially not for long. The BND is enjoying renewed time in the limelight as activists look to the institution as an example of how to regain democratic control over finance...

It’s Medicare’s Birthday—Let’s Offer It To Everyone

August 1, 2019 By Nancy J. Altman, Independentmediainstitute.org/economy-for-all Educate! Health Care, Medicare, New Economy

Fifty-four years ago, President Lyndon Johnson signed Medicare into law. Over half a century later, Medicare has proven its tremendous worth. Before Medicare, nearly half of all seniors were uninsured. Now, virtually all Americans who have reached their 65th birthday are covered. Medicare is extremely popular, considerably more so than private for-profit health insurance. It is also far more efficient: Medicare has administrative costs of just 1.4 percent, while the administrative costs of private for-profit health insurance average more than 12 percent.

Journalist Who Took Job At Amazon: We Got 18 Minutes Total Break Time For 11.5 Hour Shift

July 27, 2019 Sahid Fawaz, Labor411.org Educate! Amazon, Exploitation, Jeff Bezos, New Economy, Workers

“I took a job in an Amazon fulfillment center in Indiana over a few weeks–along with a call center in North Carolina and a McDonald’s in San Francisco–to investigate the experience of low-wage work. I wasn’t prepared for how exhausting working at Amazon would be. It took my body two weeks to adjust to the agony of walking 15 miles a day and doing hundreds of squats. But as the physical stress got more manageable, the mental stress of being held to the productivity standards of a robot became an even bigger problem.

The Politics And Potential Of The Green New Deal

July 27, 2019 Johanna Bozuwa, Onlinelibrary.wiley.com Create! Climate Change, Green New Deal, New Economy, Reform

According to the Intergovernmental Panel on Climate Change (IPCC), we have less than 12 years to slash our emissions in half to stand a chance of staying under 1.5 degrees Celsius average global temperature rise. It’s worth noting that those are global emissions – which means that, to keep the transition equitable, the Global North should be moving to cut emissions much faster still. “There is no documented historic precedent”, for the rapid action and scale necessary to curb climate change, wrote scientists in the report.1

The Cheapest Way To Save The Planet Grows Like A Weed

July 26, 2019 EllenBrown, Truthdig.com Create! Climate Change, Environment, New Economy

For skeptics who reject the global warming thesis, reforestation also addresses the critical problems of mass species extinction and environmental pollution, which are well-documented. A 2012 study from the University of Michigan found that loss of biodiversity impacts ecosystems as much as does climate change and pollution. Forests shelter plant and animal life in their diverse forms, and trees remove air pollution by the interception of particulate matter on plant surfaces and the absorption of gaseous pollutants through the leaves.

Solutionary Rail: “Higher” Speed Rail

July 24, 2019 By Mary Paterson, Solutionaryrail.org Create! New Economy, Trains, Transportation

Currently, the buzzword for rail travel is “High Speed Rail.” The term is being used broadly, but what does it mean? Brightline in Florida is being called “high speed,” even though it travels at just 79 mph. So what is High Speed Rail and what are our best options? What about freight transportation – should the bulk of freight continue to be carried by trucks? Drilling down a little, there’s a difference between ultra-high speed bullet train rail, high speed rail, and what Solutionary Rail advocates, “higher speed rail”...

Victory For DC Tenants In Catholic Church-Owned Buildings

July 24, 2019 By Yasmina Mrabet, Justicefirst.org Create! Housing, New Economy, Tenant Rights

Tenants across 3 separate buildings worked together to find a developer willing to purchase the buildings and ensure that the housing remains affordable. This seemed a near impossible task due to the price that the Basilica demanded, the lack of support from the Department of Housing and Community Development (DHCD) for small building projects, the extensive lending requirements by banks, and the short Tenant Opportunity to Purchase Act (TOPA) timeline. Yet, due to hard work, perseverance and relentless organizing...

Co-Operative Farms: Past, Present, And Future

July 18, 2019 Aasa Marshall, Cooperativesfirst.com Educate! Cooperatives, Farms, Food and Agriculture, New Economy

Agriculture’s not an easy industry to break into. Start-up costs can be insurmountable; the cost of land alone puts farming out of reach for those who aren’t already in the sector. Most people who farm can do so because they inherited land or had the support of family to purchase it. The co-op model, though, has been providing ways to make farming accessible for generations. Chris Bodnar is a farmer and the owner, with his wife Paige, of Close to Home Organics in southern British Columbia.

Why It’s Prime Time To Boycott Amazon

July 15, 2019 By Valerie Vande Panne, Independentmediainstitute.org Resist! Amazon, boycott, Jeff Bezos, New Economy

Are you ready to divest from Amazon Prime? How about Whole Foods? If the idea makes you break into a nervous cold sweat, no worries. You don’t need to divest from either. Yet. That’s the idea behind non-profit Threshold’s new campaign, Cancel Prime. The idea is for people to pledge to cancel their Prime accounts and stop shopping at Whole Foods—when there is a critical mass of people who will divest together.

100 Years: The Bank Of North Dakota Story (Part I)

July 14, 2019 the Bank of North Dakota. Create! Food and Agriculture, New Economy, Nonpartisan League, Public Bank

The credit system of the United States and the northern plains was not structured to meet the needs of North Dakota farmers in 1915. National banks could not lend money on farm mortgages. State banks could make farm loans, but they were under-capitalized, often dependent on money from out of state. Farmers were heavily dependent on store credit—buy food and hardware on credit now, pay for it after harvest—and insurance companies. Farmers needed money to purchase equipment, buy seed and livestock, and pay for such necessities of life as they could not produce for themselves on their farms.

We Have The Money To Fix Our Food System

July 12, 2019 By Brian Wakamo, Otherwords.org Create! Farming, Food and Agriculture, Labor, New Economy

Poverty is expensive, but fixing it doesn’t have to be — at least not compared to the status quo. The Institute for Policy Studies and the Poor People’s Campaign recently released a Moral Budget, and it’s a veritable treasure trove of illuminating data proving that point. They propose we could easily cut $350 billion from the annual military budget — which would still leave us with a bigger budget than China, Russia, and Iran combined — and raise $886 billion by enacting fair taxes on the rich and corporations.

CBO Report Shows Broad Benefits From Higher Minimum Wage

July 10, 2019 By Heidi Shierholz, Epi.org Create! Class Struggle, Inequality, Minimum Wage, New Economy, Workers

This afternoon, Congressional Budget Office (CBO) released a report assessing the economic impact of raising the minimum wage to $15 in 2025 in six steps (this is a similar policy to the Raise the Wage Act, which would increase the minimum wage to $15 in 2024). The key fact coming out of the report is that CBO finds that the benefits to low wage workers of a $15 minimum wage far exceed the costs. The report finds that a $15 minimum wage would increase the wages of millions of low wage workers, increase the average incomes of low and lower-middle-income families...

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