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Public Banking Tops Baltimore Mayoral Candidate’s Groundbreaking Platform

Public Banking Tops Baltimore Mayoral Candidate’s Groundbreaking Platform
A Baltimore mayoral candidate may have the most on-point application of public banking we’ve seen in the whole economic democracy movement. By Matt Stannard for the Public Banking Institute. There’s a special place in my heart for Baltimore, where I’ve visited many times, and where some of my closest friends live. And several weeks ago I had the chance to interview Joshua Harris, a mayoral candidate who, ever ... Read more

Money Revolution: Making banks public and locally accountable

Money Revolution: Making banks public and locally accountable
The private banking system that dominates North America and Europe works very well indeed, writes Ellen Brown – for the bankers. As for us, it’s a disaster, as the banks use their monopoly over the creation of money itself, at interest, as a tool to extract ever more value from us and the entire economy. But there is another way! By Ellen Brown in The Ecologist. Above photo: New Yorkers Protest the $3 trillion Wall Street ... Read more

How Secret Wall Street Fees Are Bleeding Our Cities Dry

How Secret Wall Street Fees Are Bleeding Our Cities Dry
By Zach Cartwright of U.S. Uncut. Cities, counties, and states are all hemorrhaging hundreds of billions, and possibly even trillions of dollars a year in banking fees. The root cause of this extortion has been ignored, until now. The Public Banking Institute’s (PBI) What Wall Street Costs America project is shining light on the fact that fees paid to private Wall Street banks simply for managing accounts for state and local tax dollars is ... Read more

Municipal Leaders Share Visions For Cities Building Community Wealth

Municipal Leaders Share Visions For Cities Building Community Wealth
By John Duda in www.community-wealth.org. A report from our gathering at the CUNY School of Law How can cities redeploy their economic development resources to focus on building a more inclusive economy grounded in broad, local ownership?  How can policymakers get strategies like worker cooperative development the support and resources needed to reach truly meaningful scale? How can collaborations between communities, local government, and ... Read more

Low-Wage Workers Earn So Little They Must Rely On Public Assistance

Low-Wage Workers Earn So Little They Must Rely On Public Assistance
There is an enduring myth that people who rely on public assistance are unwilling to work.  By David Cooper, www.epi.org However, there are 41.2 million working Americans (nearly 30 percent of the workforce) who receive public assistance—and nearly half of these workers (19.3 million) have full-time jobs. Not surprisingly, these workers are concentrated in jobs paying low hourly wages. A majority (53.1 percent) of workers earning less than ... Read more

Markets in the Next System

Markets in the Next System
By Jesse A. Myerson, www.thenextsystem.org Markets before capitalism  In her seminal work “The Origin of Capitalism,” the late scholar Ellen Meiksins Wood took on the credo that “capitalism emerged when the market was liberated from age-old constraints and when, for one reason or another, opportunities for trade expanded.” Schoolchildren in the US are commonly taught to conceive of the broad variety of political-economic systems, both those ... Read more

5 Reasons the Top Tax Rate Should Be 80 Percent

5 Reasons the Top Tax Rate Should Be 80 Percent
By Paul Buchheit in Common Dreams. (Photo: Ken Teegardin/cc/flickr) It came up in the Republican debate again, the curious notion that striving for less inequality is somehow a form of “class warfare.” The implication is that the richest people earned everything they have through their own initiative and hard work. But most of them have exploited an American financial system that has facilitated the transfer of our national ... Read more

Brooklyn Youth Create Jobs (And Community Roots)

Brooklyn Youth Create Jobs (And Community Roots)
By Rebecca Nathanson in Yes! Magazine. Image by Dana/Flickr. Through Local Compost Program This neighborhood made gardens out of vacant lots to tackle gentrification and high youth unemployment Snow covered most of the ground at El Garden, a community garden in the north Brooklyn neighborhood of Bushwick. The exception was the area around its three compost bins, shoveled out and made accessible to the six people who were working there. One ... Read more

Branding Tradition: A Bittersweet Tale of Capitalism at Work

Branding Tradition: A Bittersweet Tale of Capitalism at Work
Above image from Vermont Maple. By Steven Gorelick. Originally posted on the Local Futures blog at: http://www.localfutures.org/thank-you-vermont-a-bittersweet-tale/It’s almost sugaring time here in Vermont. On our homestead we tap about 25 trees, boil down the sap on the kitchen cookstove, and – in a good year – end up with 4 or 5 gallons of maple syrup. That may sound like a lot, but since it represents our family’s main source of ... Read more

Jail the Bankers and Take Back Control Over Money

Jail the Bankers and Take Back Control Over Money
By Kevin Zeese and Margaret Flowers, co-hosts of Clearing the FOG Radio. When the 2008 financial crisis hit, Iceland had a very different response than the United States. Iceland let the big banks fail, nationalized them and prosecuted the bankers, sending 26 of the bank executives to jail for fraud and market manipulation. In the US, no high level bankers were prosecuted and the big banks were bailed out through the Treasury Bailout and the ... Read more