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Public ownership

The United States Is More Socialist Than You Know

October 15, 2018 Margaret Flowers and Kevin Zeese, Clearing the FOG. , , ,
Compared to other wealthy countries, large sectors of the US economy are more socialized than is realized. From energy to water to transportation, land and more, and from cities and states to the nation, there is public ownership and control. The neo-liberal era of privatization is winding down. This has particularly accelerated following the 2008 financial crash. We speak with Thomas Hanna, author of "Our Common Wealth: The Return of Public Ownership in the United States," about reclaiming public goods and how to prepare for the next financial crash. Plus, we put the current news in the context of the bigger picture.

The Crisis Next Time: Planning For Public Ownership As An Alternative To Corporate Bank Bailouts

July 25, 2018 Thomas Hanna, Thenextsystem.org , , , ,
The next financial crisis is all but inevitable. While its exact timing and severity cannot be predicted, both the accelerating frequency of crises in recent decades and the continued consolidation of the banking sector in an increasingly financialized economy suggest that we should be prepared for a crisis sooner rather than later. In the Great Financial Crisis of 2007-2008, the US federal government intervened at an unprecedented scale to bailout our largest commercial banks after they became entangled in the mess of risky financial products built on top of an unsustainable housing bubble. The effect of these massive bailouts was, in the end, to preserve the status quo: the modest attempts made to regulate the financial sector to protect consumers and avert further devastating financial crises have largely been rolled back, and the banks that were then “too big to fail” are today even bigger.

Public Ownership, Democratizing Money, And Preparing For The Inevitable Next Financial Crisis

July 16, 2018 Staff, Publicbankinginstitute.org , ,
Thomas M. Hanna of The Democracy Collaborative has released a compelling new detailed report arguing that we need to start now discussing a viable plan for public ownership — to demand a next financial system — so we are ready to fight for it in the face of the next crisis. “The next financial crisis is all but inevitable. While its exact timing and severity cannot be predicted, both the accelerating frequency of crises in recent decades and the continued consolidation of the banking sector in an increasingly financialized economy suggest that we should be prepared for a crisis sooner rather than later…“Viewed in historical perspective, the ability of the financial sector to use its concentrated wealth to escape or subvert regulations by influencing the political process should come as no surprise…

The Crisis Next Time: Planning For Public Ownership As An Alternative To Corporate Bank Bailouts

July 3, 2018 By Thomas Hanna, Thenextsystem.org , , ,
The next financial crisis is all but inevitable. While its exact timing and severity cannot be predicted, both the accelerating frequency of crises in recent decades and the continued consolidation of the banking sector in an increasingly financialized economy suggest that we should be prepared for a crisis sooner rather than later. In the Great Financial Crisis of 2007-2008, the US federal government intervened at an unprecedented scale to bailout our largest commercial banks after they became entangled in the mess of risky financial products built on top of an unsustainable housing bubble. The effect of these massive bailouts was, in the end, to preserve the status quo: the modest attempts made to regulate the financial sector to protect consumers and avert further devastating financial crises have largely been rolled back, and the banks that were then “too big to fail” are today even bigger.

Union Group Argues For Public Ownership Of Energy Systems

February 20, 2018 Christine Marie, Socialistaction.org , ,
According to the International Energy Agency and the International Renewable Energy Agency (IEA-IREA), the investment needed to keep global warming below the threshold of two degrees Celsius would have to double the 2016 levels of investment to $600 billion a year and reach $14 trillion invested in solar and wind by 2030. The chances of this happening, under the current paradigm of public-private partnerships that guarantee profits and mitigate risk to private investors, according to the “Working Paper No. 10” authors Sean Sweeney and John Treat, is zero. In fact, they argue, based on a close study of the situation in the UK, that the idea that we can reach safe levels of renewable energy via aid to private profiteers is “the greatest policy failure ever.” Public money, they argue, is already responsible for the vast bulk of the world’s energy deployment.

Diversifying Public Ownership

August 21, 2017 Andrew Cumbers, www.thenextsystem.org , ,
By Andrew Cumbers for The Next System Project - This paper advocates a form of economic democracy based around diverse forms of public ownership. It does not prioritize one particular scale but recognizes the importance of decentralized forms of public ownership, to encourage greater public participation and engagement, mixed with higher level state ownership, for strategic sectors and planning for key public policy goals (e.g. tackling climate change). It takes a deliberately pluralistic definition of public ownership, recognizing both state ownership and the role that cooperatives and employee ownership could play in a more democratic economy. The main aim of the proposal outlined here is to enhance democratic participation and collective knowledge formation in relation to the economy. The paper outlined is premised on the principal that increased privatization of the economy is leading to growing inequalities, inappropriate policy formation, and decision-making in the interest of wealthy elites at the expense of a broader common good. In contrast, there is considerable evidence that greater collective ownership of the economy will lead to more progressive, egalitarian, and socially just outcomes that also offer more effective solutions to critical public policy problems, such as dealing with the effects of climate change.

Anti-Pipeline Protesters Head Back To Court

June 15, 2017 The Sugar Shack Alliance, www.popularresistance.org , , ,
By The Sugar Shack Alliance. Massachusetts - On June 20, eighteen members of the Sugar Shack Alliance who were arrested for civil disobedience at Otis State Forest in Sandisfield, MA, will be having their day in court. At the activists first arraignment for the criminal charges brought against them for blocking tree cutting in Otis State Forest, the state put in a motion to have the criminal charges of disorderly conduct and trespass converted into civil charges. Charges stemmed from protesters blocking the gas pipeline workers' access to a pipeline work site. The hearing on that motion will take place in front of Judge Vrabel on June 20 at 9:00 a.m. at the Southern Berkshire District Court in Great Barrington. Those being tried at the hearing were arrested protesting a the $93 Kinder Morgan Connecticut Expansion Project, a pipeline extension planned for the Massachusetts state forest to store fracked gas that will be used in CT.

Occupy Rogers! Occupy Bell! Let’s Make Telecom Public

September 3, 2014 Gerry Caplan, www.rabble.ca , ,
The British Labour Party has begun to make the case that market fundamentalism, or neoliberalism, is not necessarily the best way for society to operate. Specifically, it's been trying to show that private enterprise is not always superior to public enterprise. Beginning with Margaret Thatcher, British governments have denuded the U.K. of almost all public enterprises, from British Airways to the Royal Mail. The Labour Party Opposition wants to remind Brits that some entities actually make more sense under public auspices. Fortunately for them, I am in a position to offer my Labour comrades foolproof evidence for their gambit. Two words: Rogers and Bell. The best case for public enterprises, bar none, is interacting with these vast operations, in so many ways the quintessence of modern corporate capitalism. One deals with them, of course, only in life-and-death circumstances, when there is absolutely no alternative. Like when you lose your cellphone, as I foolishly did. I'm still shaken from the experience. About four years ago, Bell was driving our family so crazy that we switched all our home devices to Rogers. Of course that made no sense either since Rogers also drove us up the wall with its cable service, as we were handing over a small fortune to both telecom giants without a clue what we were actually paying for.

The Internet As A Public Commons

July 22, 2014 Jay Walljasper, www.onthecommons.org , ,
For cities that persevere the rewards can be very great. Muni broadband in tiny Kutztown, Pennsylvania saved the community an estimated $2 million in its first few years, a result of lower rates by the muni network and reduced prices charged by the incumbent cable company in response to competitive pressure. In 2004 Governor Ed Rendell gave Kutztown an award for its network. Shortly thereafter, to his lasting shame, he signed a Verizon-sponsored bill ensuring that no other Pennsylvania community could follow in Kutztown’s footsteps. Bristol Virginia (population: 17,000) estimates its network has saved residents and businesses over $10 million. Lafayette, Louisiana estimates savings of over $90 million. The economic development and financial benefits of muni networks have been amply catalogued by the Institute for Local Self-Reliance and its Community Broadband Initiative.
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