New Economy

What A Green New Deal For DC Could Mean For The City’s Working-Class Residents

July 9, 2019 David Schwartzman, Thedcline.org Create! Green New Deal, New Economy, Reform

The Green New Deal first entered U.S. political discourse during Howie Hawkins’ 2010 Green Party campaign for New York governor. Jill Stein, the Green Party’s candidate for president, later invoked the idea in her 2012 and 2016 campaigns. Implementation of a Green New Deal is now being vigorously discussed at all levels of power: On the international stage, where the deal was first put forward by the United Nations Environment Program in 2009; in Congress, where New York Rep. Alexandria Ocasio-Cortez and others have pushed for its inclusion in a new domestic agenda...

Wall Street Beware: The Public Banking Movement Is Coming For You

July 7, 2019 Robert R. Raymond, Truthout. Organize! Corporate greed, New Economy, Public Bank, Wall Street

It may not come as a surprise to hear that the majority of Americans don’t trust the banking system in this country. Only 27 percent of those surveyed in a 2016 Gallup poll said they had “a great deal” or “quite a lot” of confidence in the institution — less than half of the record high set in 1979. And the lack of trust is spread relatively evenly across the political spectrum — it’s not just liberals or those on the left: Almost everyone is fed up with the banks. And if banking institutions don’t exactly spark joy, their lead characters — morally bankrupt investment bankers whose greed and arrogance almost singlehandedly collapsed the entire country’s economy — certainly don’t spark joy either.

Goodbye Dollar. It Was Nice Knowing You

July 7, 2019 Philip Giraldi, Strategic Culture. Educate! European Union (EU), Iran, New Economy, Trade

Over the past two years, the White House has initiated trade disputes, insulted allies and enemies alike, and withdrawn from or refused to ratify multinational treaties and agreements. It has also expanded the reach of its unilaterally imposed rules, forcing other nations to abide by its demands or face economic sanctions. While the stated Trump Administration intention has been to enter into new arrangements more favorable to the United States, the end result has been quite different, creating a broad consensus within the international community that Washington is unstable, not a reliable partner and cannot be trusted.

How Working-Class Movements Are Moving Beyond The Confines Of Capitalism

July 5, 2019 Celina della Croce, Toward Freedom. Strategize! Capitalism, Globalization, New Economy, Workers

Between the fall of 1999 and April of 2000, hundreds of thousands of factory workers, peasants, retirees, students, professionals, and everyday people took to the streets in Cochabamba, Bolivia, to fight the privatization of their water. A foreign-led consortium of private corporations had taken control of the city’s water supply, increasing water prices by as much as 300 percent. With the skills and experience of organized movements such as the Federation of Factory Workers, working people were able to defeat a multibillion-dollar corporation around a shared interest: the right to water. In the face of a well-organized global elite that has gutted the power of workplace organizing, Cochabamba shows us that organizing the working class around a common interest and moving beyond the confines of the workplace provides an opening to push for—and win—a future that centers people over profit.

In Record US Expansion, Rich Get Richer And Others Not So Much

July 5, 2019 Trevor Hunnicutt, Reuters. Educate! Finance and the Economy, New Economy, Poverty, wealth inequality

New York - Last month Pink Floyd frontman David Gilmour sold his guitar collection for $21.5 million, including one piece - his famed “Black Strat” Fender Stratocaster - that went for nearly $4 million to the owner of the U.S. National Football League’s Indianapolis Colts. The “Money” singer set a musical instrument sales record in the charity auction, marking yet another milestone for a booming market just weeks after New York-based art dealer Sotheby’s Holdings (BID.N), auctioned Claude Monet’s “Meules” for $110.7 million, the most ever for an Impressionist painting. And it is not just instruments or paintings in high demand among the world’s billionaire set.

Stock Buybacks Are Deadly

July 3, 2019 Luisa Galvao and Porter McConnell, TakeOnWallStreet.com. Educate! New Economy, Wall Street, wealth inequality

The eighties brought us permed bangs, acid wash jeans, and Gordon Gecko’s “greed is good” mantra. So it’s not surprising that in 1982, among other bad ideas, the Securities and Exchange Commission put into effect something called Rule 10b-18, which granted a “safe harbor” (read: free pass) to company executives who wanted to buy back their own stock to raise its price. The SEC promised it would no longer accuse executives who bought back their own stock of market manipulation, rewarding corporate greed. What exactly is a stock buyback? Stock “buybacks” are when companies buy back their own stock from shareholders on the open market. When a share of stock is bought back, the company reduces the number of shares left in the market, which raises the price of remaining shares.

New Report: Walmart’s Monopolization Of Local Grocery Markets

June 28, 2019 Stacy Mitchell, Ilsr.org Educate! Food and Agriculture, Monopoly, New Economy, Walmart

Our findings illustrate the failure of contemporary antitrust policy. For nearly four decades, the two agencies that enforce the antitrust laws, the U.S. Department of Justice and the Federal Trade Commission, have given corporations like Walmart a free hand to use their size and financial might to consolidate markets. This lax approach was supposed to generate widespread benefits for Americans. Instead, it has left a remarkable number of places without a competitive market for even the most basic of daily needs.

Theoretical Lies Of The World Bank

June 27, 2019 By Eric Toussaint, Cadtm.org Educate! Aid, History, New Economy, Propaganda, World Bank

In 2019, the World Bank (WB) and the IMF will be 75 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and the IMF have systematically made loans to States as a means of influencing their policies. Foreign indebtedness has been and continues to be used as an instrument for subordinating the borrowers. Since their creation, the IMF and the WB have violated international pacts on human rights and have no qualms about supporting dictatorships.

The Federation Of Southern Cooperatives: Economic Justice Through Cooperative Development

June 27, 2019 Staff, Sharedcapital.coop Create! Cooperatives, Land, New Economy, Race

How many co-ops can claim they were founded directly out of the Civil Rights movement? Or that they prevented a crisis predicted by government statisticians? The Federation of Southern Cooperatives has demonstrated that level of leadership throughout its 52-year history, and Shared Capital is proud to support their operating model through our work together. The Federation is a cooperative association of black farmers, landowners and cooperatives all around the South, with a focus on cooperative economic development, land retention, and advocacy.

Advancing The Anchor Mission Of Health Care

June 22, 2019 David Ansell, Michellene Davis, and David Zuckerman, Practicalplaybook.org Create! Health Care, New Economy

Despite the position of the United States as the wealthiest nation in the history of the world, a staggering 43 million Americans and 1 in 6 children live in poverty—a level greater than that of its peers. Four in 10 Americans could not sustain living at the poverty level for just 3 months if their main source of income disappeared tomorrow. White family wealth remains seven times greater than African American family wealth and five times greater than Hispanic family wealth, as of 2016.1

25% Of Americans Are “Worse Off” Than They Were Before The Great Recession

June 21, 2019 Mac Slavo, Shtfplan.com Educate! Economics, Inequality, New Economy

For many, the economic recovery being touted by the mainstream media has not yet affected them. About 25% of Americans say that a decade after the housing bust that caused the Great Recession, they are doing worse. Almost half of Americans are not doing any better at all too. If you believe the mainstream media, the economy is robust and the unemployment rateis at a 49-year-low. But not all Americans have recovered from the Great Recession. According to a new survey from Bankrate of about 3,000 Americans, 23% of people who were adults when the recession started in December 2007 say they are now financially worse off than they were before the recession hit.

Fearless Cities: A Guide To The Global Municipalist Movement

June 18, 2019 By Steve Early, Popular Resistance Educate! Ada-Colau, Barcelona, Municipalism, New Economy

Fearless Cities describes municipal reform campaigns in fifty cities and 19 countries. Its contributors include activists and elected officials in Spain, Portugal, Italy, Greece, England, Chile, Argentina, Serbia, Germany, Kurdish-controlled northern Syria, Canada, and the U.S. It contains a series of “organizing tool-kits,” which offer practical advice about rooting out political corruption, reducing pollution, protecting tenants and immigrants and creating opportunities for citizen engagement like "participatory budgeting."

Top 1% Up $21 Trillion. Bottom 50% Down $900 Billion

June 15, 2019 By Matt Bruenig, People's Policy Project Educate! Economic inequality, New Economy

I want to highlight a single eye-popping statistic from a recent Federal Reserve report. Between 1989 and 2018, the top 1 percent increased its total net worth by $21 trillion. The bottom 50 percent actually saw its net worth decrease by $900 billion over the same period. What this reveals is a 2018 where the top 1 percent owns nearly $30 trillion of assets while the bottom half owns less than nothing, meaning they have more debts than they have assets. This follows from 30 years in which the top 1 percent massively grew their net worth while the bottom half saw a slight decline in its net worth.

Colorado Surpasses $1 Billion In Marijuana Tax Revenue

June 15, 2019 Carina Julig, The Denver Post. Create! Marijuana, New Economy, Public Services, Taxes

Colorado has surpassed $1 billion in tax revenue from marijuana sales since recreational use was legalized in 2014. Marijuana tax, license and fee revenue has reached $1.02 billion, and marijuana sales over $6.5 billion, the Colorado Department of Revenue announced in a news release. Colorado has 2,917 licensed marijuana businesses and 41,076 licensed individuals working in the industry. Marijuana revenue funds a range of youth and public health programs in Colorado, including mental health services, youth literacy initiatives and anti-bullying programs in schools. Marijuana tax revenue goes to both state and local governments. “This industry is helping grow our economy by creating jobs and generating valuable revenue that is going towards preventing youth consumption, protecting public health and safety and investing in public school construction,” Governor Polis said in a statement.

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