New Economy

Five Proposals For A Better World After The Pandemic

April 29, 2020 Climate and Capitalism. Create! Capitalism, Global Recession, New Economy, Pandemic

Covid-19 has shaken the world. It has already led to the loss or devastation of countless lives, while many people in vital professions are working day and night to attend to the sick and stop further spread. Personal and social losses, and the fight to stop these, demand our continued respect and support. At the same time, it is critical to view this pandemic in historical context in order to avoid repeating past mistakes when we plan for the future. The fact that Covid-19 has already had such a major economic impact is due, amongst other factors, to the economic development model that has been dominant globally over the last 30 years. This model demands ever-growing circulation of goods and people, despite the countless ecological problems and growing inequalities it generates.

Hard-Hit Italian City Is Trailblazing The Way Towards A Better Post-Coronavirus World

April 25, 2020 Tracy Keeling, The Canary. Create! climate crisis, Italy, New Economy, Pandemic

Italy has been particularly badly hit by the coronavirus (Covid-19) pandemic. Although the country has recently seen declines in new cases, it remains one of the top for infections and deaths worldwide. And the northern region of Lombardy has, by far, had the largest number of confirmed infections in the country. Now, as the cases wane, Milan – the region’s capital city – is looking to rebuild. It’s not, however, planning to get back to business as usual. It’s re-imagining the city and trailblazing its way towards a better post-coronavirus world. Like most other countries, Italy has been in lockdown. As the Guardian reported, during that cessation of the daily grind, Milan experienced a reduction in motor traffic congestion of between 30% and 75%. In turn, that drop in congestion brought a big dip in pollution levels.

Cooperation Humboldt And The Solidarity Economy

April 25, 2020 Margaret Kimberley, Intrepid Report. Create! California, Cooperatives, Food Sovereignty, New Economy

The COVID-19 pandemic has exposed all of the inconvenient truths about life in the United States. It is no longer possible to hide the disconnect between myths of a great and advanced society with scenes of long lines for food pantries, millions of workers suddenly unemployed and a political system that gives a one-time maximum payment of $1,200 in a time of severe economic crisis. The already marginalized are at greatest risk of death as black and brown people constitute the majority of coronavirus victims in large cities like New York, Detroit and Milwaukee. Before this health crisis struck there were people all over the country who understood the need for a solidarity economy. The concept is one which holds that every person is an economist in that they are all aware of their needs and those of their communities.

How State Officials Can Save Main Street With Three Urgent Actions

April 24, 2020 the Public Banking Institute. Create! Federal Reserve, New Economy, Public Bank, Recession, State Government

As states and cities face a tsunami of emergency expenses, collapsing tax revenues, and a shrinking bond market, we wanted to bring to your attention some new funding possibilities that have recently opened up. The Federal Reserve has stepped up to the plate by relaxing some of its rules and dropping interest rates to zero, but only for banks. The state could take advantage of this opportunity by having its own bank, something that could be done quickly by Executive Order. That and two other new funding possibilities are detailed below. #1 Use your emergency powers to set up a state-owned public bank. The Fed is now making its discount window available for loans at 0%-0.25% and is encouraging banks to use that facility to extend credit where needed to alleviate the current crisis.

After The Pandemic: A Ten-Point Plan For The Collective Provision Of Basic Needs

April 23, 2020 The Foundational Economy Collective, Resilience.org. Create! Basic Necessities, COVID-19, Global Recession, New Economy

This manifesto is an intervention by a Europe-wide group of academics – the foundational economy collective – who have for several years in books and articles argued that policy makers need to balance concern with jobs and wages with more attention to essential goods and services like housing, food, utility supply, health, education and care. The provision of all of these things relies on the collective organisation of much larger systems; if group provision breaks down, citizens cannot buy their way out through individual consumption. This foundational economy is often invisible, buried within the abstract idea of the economy and neglected by policymakers who focus on high tech and tradeable sectors. But during this coronavirus pandemic it has become highly visible because societies are shutting down everything except those parts of the economy providing essential foundational goods and services.

The Women Of Candelaria

April 22, 2020 Caitlin Manning and Joe Bender, ROAR Magazine. Create! Indigenous Women, Mexico, New Economy

Dispatches from Resistant Mexico is a series of short documentaries from southern Mexico, each depicting one of the thousands of pockets of resistance throughout Latin America that are in struggle against what the Zapatistas call “the capitalist hydra.” These individuals and communities affirm a way life in opposition to capitalist economics and values. They fight the devastating neoliberal “development” and “mega-projects” that loot resources and land from indigenous communities and threaten forms of life that have survived despite 500 years of colonization. The resistance shares many of the principles and goals of the Zapatistas: autonomy from the capitalist economy, communalist self-government rooted in indigenous collective traditions, an end to the subordination of women and a respectful, life-affirming, non-dominating relation to nature.

Why Housing Security Is Key To Environmental Justice

April 21, 2020 By Mỹ Dzung Chu, Environmental Health Network. Create! health, Housing, Land trusts, New Economy

Since 2018, I can often be found at our local community center—listening, learning, sharing, and strategizing around the table with community members on ways to push the city for more affordable housing and prevent the displacement of neighborhood residents. We are members of Dorchester Not for Sale (@DotNot4Sale), a grass-roots alliance of more than 100 residents organizing for a community vision that protects residents most at risk of displacement; prioritizes affordable housing, good jobs, and community safety for current residents; and preserves ethnic-specific services that make our community of Dorchester, Massachusetts, home. I am passionate about housing security because it determines where we can afford to live and the quality of housing we can live in— all of which affects our health, the health of our communities, and of future generations.

A Universal Basic Income Is Essential And Will Work

April 20, 2020 Ellen Brown, The Web of Debt Blog. Create! Debt, Federal Reserve, New Economy, Recession, Universal Basic Income

According to an April 6 article on CNBC.com, Spain is slated to become the first country in Europe to introduce a universal basic income (UBI) on a long-term basis. Spain’s Minister for Economic Affairs has announced plans to roll out a UBI “as soon as possible,” with the goal of providing a nationwide basic wage that supports citizens “forever.” Guy Standing, a research professor at the University of London, told CNBC that there was no prospect of a global economic revival without a universal basic income. “It’s almost a no-brainer,” he said. “We are going to have some sort of basic income system sooner or later ….” “Where will the government find the money?” is no longer a valid objection to providing an economic safety net for the people.

Pandemic May Turn People Back To Local Farms

April 20, 2020 Polly Fitz, Door County Pulse. Create! COVID-19, Economic shutdown, Food and Agriculture, Local Economy, New Economy

At Waseda Farms in Baileys Harbor, store manager Sayard Geeve said, “The phone is ringing off the hook.” Flying Tractor Farm in Sturgeon Bay has been selling more of its meat products. Cold Climate Farms in Nasewaupee is getting calls from people asking whether its staff can ship food. As the COVID-19 outbreak spreads throughout the country and here on the peninsula, local farms are affected differently from many other operations. Farmers with products available now are coming up with new ways to safely get their food to customers, and as they prepare now for the outdoor growing season, they’re dealing with uncertainty about what their customer base will be this summer. Farms that produce year-round have seen an important, regular revenue source dwindle or disappear.

Total System Failure Will Give Rise To New Economy

April 14, 2020 Pepe Escobar, Information Clearinghouse. Educate! Global Recession, New Economy, Poverty, Technology

Nobody, anywhere, could have predicted what we are now witnessing: in a matter of only a few weeks the accumulated collapse of global supply chains, aggregate demand, consumption, investment, exports, mobility. Nobody is betting on an L-shaped recovery anymore – not to mention a V-shaped one. Any projection of global gross domestic product (GDP) in 2020 gets into falling-off-a-cliff territory. In industrialized economies, where roughly 70% of the workforce is in services, countless businesses in myriad industries will fail in a rolling financial collapse that will eclipse the Great Depression. That spans the whole spectrum of possibly 47 million US workers soon to be laid off – with the unemployment rate skyrocketing to 32% – all the way to Oxfam’s warning that by the time the pandemic is over half of the world’s population of 7.8 billion people could be living in poverty.

A Pandemic Is No Time For Precarious Work

April 10, 2020 Bama Athreya, Inequality.org. Create! COVID-19, Gig Workers, New Economy, Worker Rights

The Trump administration and many of its wealthiest allies recklessly floated an end to social distancing, endangering public health to allegedly help “the economy.” I don’t usually take the trouble of responding to right-wing opinions, but the gleeful celebration of the gig economy during a pandemic is further evidence of an empathy deficit among their ranks. The executive class, safe in their bunkers, are considering how they can best take further advantage of a precarious workforce. Need to go out and don’t want to face public transportation? Just order car service from Uber or Lyft. Want to avoid crowded grocery stores? Instacart has you covered! Can’t go to your favorite restaurant? There’s an app for that, too – and a vulnerable worker risking their health and safety to bring everything you need right to your door.

Twelve Reasons The Glass Is 1% Full

March 29, 2020 Michael Shuman. Create! climate crisis, Community, Environment, New Economy

The damage COVID-19 is wreaking—in terms of deaths, sickness, business closures, unemployment, and misery—is incalculable. But this crisis is changing the world in subtle ways that may ultimately improve our lives. So…in the spirit of Winston Churchill, who once implored not to let a good crisis go to waste, here are the positives I’m observing. (1) Resilience – Never again will a sober economic developer argue that local resilience and self-reliance do not matter. Crises like this one remind us that a community with a rich diversity of businesses will survive a disaster better than one completely dependent on the outside. (2) Local Investment – Wall Street is toast (again). Even after a few positive days, the market has lost nearly a third of its peak value earlier in the year. Once families assess the damage to their life savings, I suspect millions will start thinking more seriously about how to reinvest in local businesses, projects, and people.

How Artists Are Exploring Radical Economies

March 26, 2020 Robert Kauffman, Resilience.org. Create! Art, Decentralization, Internet, New Economy

There are many proposals for radical economies from progressive economists, activists and think tanks. Artists are increasingly joining these debates with speculative proposals and unconventional methodologies. I will explore three art projects here that approach the economies of caring labor, agricultural and social production on farms, and forests, with an artistic spin. Driven by artistic curiosity but not shying away from addressing systemic issues, these projects help us open the scope of our discussions by engaging with diverse social actors. The ReUnion network is a design prototype for a socio-economic ecosystem that helps people organize bottom-up social support through long-term P2P (peer to peer) care agreements.

No Return To Normal: For A Post-Pandemic Liberation

March 25, 2020 By Max Haiven, Roarmag.org Create! Ideology, New Economy, Pandemic

The arrival of the COVID-19 pandemic in early 2020, unfolding around the world as I write these words, will likely be remembered as an epochal shift. In this extended winter, as borders close, as lockdowns and quarantines multiply, as people succumb and recover, there is a strong sense that...

Not This Time: Watch Out For Wall Street In A Pandemic

March 25, 2020 Staff, Takeonwallst.com Create! Coronavirus, COVID-19, New Economy, Pandemic, Wall Street

We have entered uncertain times. The novel coronavirus has upended life around the globe, and none of us knows exactly how long the outbreak or its ramifications will last. But daily reminders of how much we can’t control shouldn’t stop us from seizing upon those things we can.

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