New Economy

America Is Already Socialist, And That’s a Good Thing

February 13, 2019 Miles Mogulescu, Ourfuture.org Educate! New Economy, Revisionism, United States

During Donald Trump’s State of the Union speech, many of the old, white, Republican Senators and Representatives must have gotten more exercise than in weeks, jumping to their feet to applaud almost every sentence of the endless rhetoric. One of the moments that got the loudest applause was Trump’s attempt to blame progressive Democrats for the problems of the current Venezuelan government, proclaiming the U.S. “will never be a socialist country” to a loud standing ovation from Republicans (and too many Democrats) and chants of “USA, USA, USA.”

You Can’t Design Bike-Friendly Cities Without Considering Race And Class

February 11, 2019 Anne Lusk, The Conversation. Create! Cities, New Economy, Race, Transportation

Designing for bikes has become a hallmark of forward-looking modern cities worldwide. Bike-friendly city ratings abound, and advocates promote cycling as a way to reduce problems ranging from air pollution to traffic deaths. But urban cycling investments tend to focus on the needs of wealthy riders and neglect lower-income residents and people of color. This happens even though the single biggest group of Americans who bike to work live in households that earn less than US$10,000 yearly, and studies in lower-income neighborhoods in Brooklyn and Boston have found that the majority of bicyclists were non-white.

Instead of Enriching Shareholders, These Companies Could Give 8 Million Workers a $46,000 Raise

February 10, 2019 By Colleen Boyle, In These Times Educate! Finance and the Economy, New Economy, Workers Rights and Jobs

During the most recent fiscal year, the 30 companies that make up the Dow Jones Industrial Average gave $378.5 billion to shareholders. That translates to more than $46,000 for each of their combined 8 million employees. Publicly traded companies—like Nike, Coca-Cola and Apple—have many options for how to spend their profits. Historically, companies spent their profits reinvesting in their business through research and development, mergers and acquisitions, capital expenditures, and workforce training and increased salaries. Today, corporations are spending the majority of their profits on share repurchases and dividends, which enrich executives and shareholders while stiffing workers.

Offshore Finance: How Capital Rules The World

February 10, 2019 By Reijer Hendrikse, and Rodrigo Fernandez, ROAR Magazine Educate! Finance and Economy, New Economy, Off-shore Tax Havens, Offshore Finance

Offshore finance is not solely about capital moving beyond the reach of states, but involves the rampant unbundling and commercialization of state sovereignty itself. Offshore jurisdictions effectively cultivate two parallel legal regimes. On the one hand, we have the standard regulated and taxed space for domestic citizens in which we all live, on the other we have an “extraterritorial” secretive offshore space exclusively maintained for foreign businesses and billionaires, or non-resident capital, comprising “a set of juridical realms marked by more or less withdrawal of regulation and taxation”.

A Black-Led Food Co-Op Grows In Detroit

February 8, 2019 Brian Allnutt, Citylab.com Create! Black Capitalism, Cooperatives, New Economy

DETROIT, Mich.—Malik Yakini came to cooperative economics as a student at Eastern Michigan University in the mid-1970s when he started a food-buying club. “I wasn’t thinking of myself as a food activist,” he says, “I was thinking of myself as an activist in the black liberation movement.” He viewed controlling food retail and production as important aspects of black self-determination, echoing the sentiments of organizations like the Nation of Islam and Detroit’s Shrine of the Black MadonnaChurch that emphasized owning farmland and running food businesses.

How The Age Of Billionaires Ends

February 8, 2019 By Josh Hoxie, Otherwords.org Strategize! Class Struggle, Inequality, New Economy, Ruling Class

Serious proposals are on the table to address the deepening divide between the uber-rich and the rest of us. Every month or so there’s a stunning new headline statistic about just how stark our economic divide has become. Understanding that this divide exists is a good start. Appreciating that a deeply unfair and unequal economy is problematic is even better. Actually doing something about it — that’s the best. As 2020 presidential hopefuls start trying to prove their progressive bona fides, serious policies to take on economic inequality are at the forefront.

Co-operative Study Tour To North America: Visiting US Co-operatives

February 7, 2019 Staff, Seikatsuclub.coop Educate! Cooperatives, New Economy

Seikatsu Club Tokyo and Osaka celebrated the 50th anniversary of their founding in 2018, marking 50 years since the birth of Seikatsu Club as a co-operative. A co-operative study tour was planned as one element in the 50th anniversary events to be held over the two years 2018 and 2019. The plan to visit to the United States was implemented from September 19 to 29, 2018. A dozen co-operative members and producers participated in the group, learning about the outline of the US co-operative movement and paying visits to the workplaces of, for example, consumers’ co-operatives and workers co-operatives.

New Study Confirms: Degenerative Food & Farming System Poses Mortal Threat

January 30, 2019 Ronnie Cummins, Organicconsumers.org Educate! Farming, Food and Agriculture, New Economy

A new study calling for a “radical rethink” of the relationship between policymakers and corporations reinforces what Organic Consumers Association and other public interest groups have been saying for years: Our triple global crises of deteriorating public health, world hunger and global warming share common root causes—and that the best way to address these crises is to address what they all have in common: an unhealthy, inequitable food system perpetuated by a political and economic system largely driven by corporate profit.

The Green New Deal And The Shift To A New Economy

January 29, 2019 By Johanna Bozuwa, Adam Simpson, Anthony Torres and Evan Weber, Thenextsystem.org Create! Green New Deal, New Economy

We have three great guests to talk about it today. Coming up first is Johanna Bozuwa—a colleague of mine here at the Democracy Collaborative—a research associate who works on energy democracy as well as green jobs. We also have Anthony Torres, a campaign strategist at the Sierra Club’s Living Economy Program. Anthony is originally from Long Island, New York and has been featured as one of Grist.org’s Top 50 fixers and a Brower Youth Award winner. Finally, we have Evan Weber, political director and co-founder of the Sunrise Movement from Kailua, Hawaii. He has also been featured as one of Grist.org’s Top 50 Fixers.

Norway Is Far More Socialist Than Venezuela

January 29, 2019 Matt Bruenig, Peoplespolicyproject.org Educate! New Economy, Norway, Revisionism, Socialism, Venezuela

As the United States begins its effort to depose Venezuelan president Nicholas Maduro, the discourse is plagued by the perennial question: what is socialism? Venezuela helps illuminate this question because many pundits commit to the claim that Venezuela is socialist before committing to a specific definition of socialism. This unfortunate order of events then requires them to retroactively identify specific things that they say make Venezuela socialist, but then those things exist in other countries that they refuse to call socialist.

When North Dakota Has Budget Woes, It Simply Takes A Dividend From Its State-Owned Bank

January 28, 2019 Staff, Publicbankinginstitute.org Create! Banks, New Economy, North Dakota

North Dakota is facing important budget concerns due to the continued slide in oil prices. Early this month, the North Dakota Legislature lowered the amount of revenue the state can expect to collect from oil taxes by $600 million for the next two year budget cycle. Oil is a major contributor to the state’s wealth and the significant drop in energy tax revenue (despite record levels of oil production) would be expected to have significant effects on state spending.

Teachers In Denver, Oakland And Chicago Move Toward Strikes, Others Protest

January 28, 2019 Samantha Winslow and Dan DiMaggio, Labornotes.org Resist! Chicago, Class Struggle, Denver, New Economy, Oakland, Protests, Strikes, Teachers

Who will pay for a 5 percent raise, smaller classes, and more nurses, librarians, and counselors for the Chicago public schools? “Rich people,” Chicago Teachers Union Vice President Stacy Gates told the press. Their contract expires in June. Meanwhile, fresh off the first charter school strike in history, the union set a February 5 strike date at another Chicago charter network. Five hundred CTU members in the Acero charter network struck for a week in December, winning smaller classes and salary increases that align them with their counterparts in the Chicago Public Schools. Four schools in the Chicago International Charter School network could be next.

Mexican Workers Are Engaging In Wildcat Strikes At The Border

January 28, 2019 Kent Paterson, Inthesetimes.com Resist! Border, Mexico, New Economy, Strikes, Workers

Catalyzed by the Mexican government’s minimum wage hike in the northern border zone, wildcat protests in Mexico’s assembly-for-export industry, or maquiladoras, greeted the first weeks of the administration of President Andrés Manuel López Obrador (AMLO). Workers temporarily halted production or walked off the job at mainly foreign-owned automotive and electronic factories in Ciudad Juárez, Matamoros, Agua Prieta and Cananea. A common link in the protests has been company non-payment of production and attendance bonuses typically offered to workers along with a daily wage.

The Financial Secret Behind Germany’s Green Energy Revolution

January 26, 2019 Ellen Brown, Truthdig.com Create! Clean Energy, Germany, New Economy

The “Green New Deal” endorsed by Rep. Alexandria Ocasio-Cortez, D.-N.Y., and more than 40 other House members has been criticized as imposing a too-heavy burden on the rich and upper-middle-class taxpayers who will have to pay for it. However, taxing the rich is not what the Green New Deal resolution proposes. It says funding would come primarily from certain public agencies, including the U.S. Federal Reserve and “a new public bank or system of regional and specialized public banks.” Funding through the Federal Reserve may be controversial, but establishing a national public infrastructure and development bank should be a no-brainer.

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