New Economy

Funding The Green New Deal Without Raising Taxes And Creating Massive Debt

March 23, 2019 Ellen Brown, Web of Debt Create! Green New Deal, New Economy, Public Bank

The US Green New Deal envisions funding with “a combination of the Federal Reserve [and] a new public bank or system of regional and specialized public banks,” which could include banks owned locally by cities and states. As Sylvia Chi, chair of the legislative committee of the California Public Banking Alliance. Local or regional public banks, says Chi, could help pay for the Green New Deal by making “low-interest loans for building and upgrading infrastructure, deploying clean energy resources, transforming our food and transportation systems to be more sustainable and accessible, and other projects.

Victory! Boston Challenges Corporate Control Of Our Food System

March 22, 2019 By Alexa Kaczmarski, Corporateaccountability.org Create! Boston, Corporations, Food and Agriculture, New Economy

Boston has taken a critical step forward to rebuild our broken food system and advance food justice across the city. On March 20, the city became the first on the East Coast to adopt a city-wide Good Food Purchasing Policy (GFPP) — a groundbreaking policy that helps build an equitable, local, sustainable food system. The policy directs the city to purchase food that meets robust labor, health, and environmental standards. This includes Boston Public Schools (BPS), one of the largest purchasers of food in the city — meaning that 56,000 schoolchildren in Boston will have healthier, more nutritious food available to them at school each day.

Bring Back Eisenhower Socialism

March 21, 2019 By Chuck Collins, Inequality.org Educate! New Economy, Revisionism, Socialism

Anytime a politician proposes a wildly popular idea that helps ordinary people, a few grumpy conservatives will call them “socialists.” Propose to reduce college debt, help sick families, or ensure the super-rich pay their fair share of taxes — suddenly you’re a walking red nightmare. Utah Republican Rep. Chris Stewart is so alarmed he’s convened an “Anti-Socialism Caucus” to ward off “the primitive appeal of socialism” that will “infect our institutions.”

Berkeley Sets The Bar For Municipal Support Of Worker Cooperatives

March 18, 2019 By Yassi Eskandari, Theselc.org Create! California, Cooperatives, New Economy, Workers

Berkeley, CA - Last month, Berkeley City Council unanimously adopted a set of recommendations provided by the Sustainable Economies Law Center (Law Center) and a coalition of worker coop members and advocates. In doing so, Berkeley became a national leader in supporting worker cooperative businesses. “Berkeley is among the first US cities to earmark funding specifically to help local businesses convert to democratic worker ownership,” says Sara Stephens, Staff Attorney at the Law Center.

A Four-Day Working Week Is Within Our Grasp

March 18, 2019 Eleanor Penny, Redpepper.org.uk Create! Labor, New Economy, Reform

Whenever the government fumbles around desperately for the story they can sell as success, they often reach for the following statistic: that since the Conservatives took power in 2010, unemployment has dropped, and more people than ever are in work. But this simple story conceals a much more worrying truth – that work simply doesn’t guarantee a decent standard of living any more. Official statistics gloss over the effects of semi-employment, self-employment, self-unemployment, zero-hours contracts and a shrinking in real wages, leaving four million people in in-work poverty.

Citizen Currencies Strengthen Agricultural Supply Chains

March 18, 2019 Françoise Wautiez, Ripess.eu Create! Currency, Food and Agriculture, New Economy

This is the third issue of the series we started in October, on the theme of “local currencies”, after a general presentation of the advantages and challenges of local currencies through the example of the Leman currency (October 2018) and the avenues for collaboration and synergies between local currencies and sustainable food (December 2018), we propose today to reflect in terms of production/supply chains, for different types of agricultural products, and starting once again from the Geneva experience: from seed to production, from production to processing, from processing to distribution, from distribution to consumption.

The Global Economy Is A Time Bomb Waiting To Explode

March 18, 2019 Marshall Auerback, Independentmediainstitute.org Educate! Banking and Finance, Capitalism, New Economy

In the aftermath of the greatest financial calamity since the Great Depression, then–chief of staff for the Obama administration Rahm Emanuel made the call for aggressive action to prevent a recurrence of the meltdown of 2008. Although the U.S. government’s system of checks and balances typically produces incremental reform, Emanuel suggested that during times of financial upheaval, the traditional levers of powers are often scrambled, thereby creating unique conditions whereby legislators could be pushed in the direction of more radical reform.

Rigged College Admissions: One Aspect Of Rampant Social Inequity

March 17, 2019 Leo Gerard, The National Memo. Educate! College, Corruption, New Economy, wealth inequality

The children of working stiffs learned a brutal lesson this week as federal prosecutors criminally charged rich people with buying admission to elite universities for their less-than-stellar children. The lesson is that no matter how hard you work, no matter how smart or talented you are, a dumb, lazy rich kid is going to beat you. It’s crucial that everyone who is not a wealthy movie star, hedge fund executive, or corporate CEO—that is, 99 percent of all Americans—sees this college admissions scandal for what it really is: a microcosm of the larger, corrupt system that works against working people, squashing their chances for advancement.

The Benefit Of The Commons: Strategies For A Brighter Future

March 14, 2019 Staff, Islesoftheleft.org Create! Collective, Europe, Latin America, New Economy

Commons is about sharing resources, collaborating and making decisions together without a top-down dictate. There is a variety of definitions which delve into what and how should be shared. Elinor Ostrom, the Nobel Prize laureate awarded the prize precisely for her extensive work on the commons, defined it as common-pool finite resources such as grazing grounds, forests, coastal areas, rivers and so on. She argued that the best way to manage these natural ecosystems would be through a collective action of the people who use these resources, and not through state or market mechanisms.

Fixing Inequality: More Opportunity Is Not The Answer

March 14, 2019 By Claude Fischer, Madeinamericathebook.wordpress.com Strategize! Inequality, New Economy

Public discussions of reducing inequality have largely focused on equalizing the opportunities for people to move up, on ideas such as universal pre-K, school reform, reducing college debt, fighting discrimination, affirmative action, training programs, opportunity zones, and career mentoring. The hope is that someday the daughter of a Kentucky miner will have as much of a chance to live well as the son of a Wall Street broker, their fates determined not by circumstances, but only by ability and character.

Wall Street Mini-Tax Could Raise Maxi Revenue

March 14, 2019 Ronald M. Glassman and Gerald E. Scorse, Dissidentvoice.org Create! New Economy, Taxes, Wall Street

With great fanfare, politicians on the left are thinking big on tax reform: a 70 percent rate on incomes over $10 million, a wealth tax on the super-rich, estate taxes as high as 77 percent. With no fanfare at all, the nonpartisan Congressional Budget Office (CBO) has made the case for thinking small. According to the CBO, a mini-tax on sales of stocks, bonds and other holdings could boost revenues by scores of billions a year. The estimate came in December 2018 when the CBO released its list of optionsfor cutting the federal deficit.

A Green New Basic Income Guarantee

March 9, 2019 Staff, Davidswanson.org Create! Guaranteed basic income, New Economy

U.S. military spending eight years ago was at $1.2 trillion per year, when one added in the nukes in the Energy Department, the Homeland Security Department, the CIA, interest on debt, veterans’ care, etc. Now it’s at $1.3 trillion. In the years since military spending has been dramatically increased, the United States has been made less safe, less liked, less environmentally sustainable, less free, less prosperous, less tolerant, and less democratic. Moving money to other areas significantly expands the economy, rewarding the shift financially as well as in many other ways. In fact, the same money spent on clean energy jobs returns a 50% increase in taxes over money spent on military jobs.

Tosepan: Resistance And Renewal In Mexico

March 6, 2019 By Alex Jensen, Localfutures.org Strategize! Class Struggle, Mexico, New Economy

Since the mid-1980s, Mexico has been a poster child for globalization. Through free trade treaties and structural adjustment policies imposed by international financial institutions, the country has been “liberalized” – opened up to unfettered corporate investment and imports – to an extent matched by few other countries. Though the North American Free Trade Agreement (NAFTA) is the most well-known trade treaty to affect Mexico, it is but the first and largest of numerous multilateral and bilateral agreements that make Mexico the world’s free trade agreement (FTA) leader.

It’s Time To Think More Deeply About How We Can Better Uplift Our Shared Principles

March 6, 2019 Doug O'Brien, Ncbaclusa.coop Strategize! Cooperatives, History, New Economy

It has taken profound effort and sacrifice to work against entrenched prejudices in our history and cultivate the inclusive diversity that is key to our country’s special dynamism. Cooperatives have been a crucial strategy for realizing the ideals behind those efforts, building on our longstanding and distinct advantages as a democratic business model, a participatory strategy for achieving inclusive socioeconomic goals, and a movement based in values and principles that speak directly to these challenges. Historically, cooperatives have been used to create access for people with few alternative options, to facilitate economic solidarity, and to provide the social stability that enables greater participation in society.

“Earth-Shattering” Book Argues That Ancients Routinely Did What Our Government Should Do: Give Debtors A Clean Slate

March 6, 2019 Staff, Publicbankinginstitute.org Create! Debt, History, New Economy

Michael Hudson, one of the few economists who accurately predicted the Great Recession, has written a book — …and Forgive Them Their Debts — that caused John Siman to remark in Naked Capitalism: “To grasp his central argument is so alien to our modern way of thinking … that Hudson quite matter-of-factly agreed with me that the book is … ‘earth-shattering’ in both intent and effect.” Hudson’s central argument is that, again and again, century after century, forgiveness of debts had been a necessary cornerstone of successful civilizations.

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