In Truthout, Democracy Collaborative Co-founder Gar Alperovitz pointed out how President Obama’s visit to Youngstown overlooked the fact that this older industrial city was the inspirational home of the modern US worker-ownership movement that began more than 30 years ago.
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Social democracy is at an impasse, bereft of an economic programme, but history is on the march. Democratic wealth-holding can give social democrats a new set of economic institutions and political power bases.
Co-founder Gar Alperovitz argues that progressives at the state, county and municipal levels can further democratize wealth and power using a “checkerboard strategy.”
Ted Howard contributed this essay to Investing in What Works for America’s Communities, a book published by the Federal Reserve Bank of San Francisco and the Low Income Investment Fund that calls on leaders from the public, private, and nonprofit sectors to build on what we know is working to move the needle on poverty.
THE Barclays interest-rate scandal, HSBC’s openness to money laundering by Mexican drug traffickers, the epic blunders at JPMorgan Chase — at this point, four years after Wall Street wrecked the global economy, does anyone really believe we can regulate the big banks? And if we broke them up, would they really stay broken up?
Most liberals in Washington — President Obama included — keep hoping the banks can be more tightly controlled but otherwise left as is. That’s the theory behind the two-year-old Dodd-Frank law, which Republicans and Wall Street are still working to eviscerate.
Worker and Social Equity in Food and Agriculture: Practices at the 100 largest and most influential U.S. companies
Hey, look it over—public ownership is the most effective way to fix America’s economy.
It’s time to put the taboo subject of public ownership back on the progressive agenda. It is the only way to solve some of the most serious problems facing the nation. We contend that it is possible not only to talk about this once forbidden subject but to begin to build a serious politics that can do what needs to be done in key sectors.
Proposals for public ownership will of course be attacked as “socialism,” but conservatives call any progressive program—to say nothing of the modest economic policies of the Obama administration—“socialist.” However, many Americans are increasingly skeptical about the claims made for the corporate-dominated “free” enterprise system by its propagandists. A recent Pew Research Center poll found that a majority of Americans have an unfavorable view of corporations—a significant shift from only twelve years ago, when nearly three-quarters held a favorable view. At the same time, two recent Rasmussen surveys found Americans under 30—the people who will build the next politics—almost equally divided as to whether capitalism or socialism is preferable. Another Pew survey found that 18- to 29-year-olds have a favorable reaction to the term “socialism” by a margin of 49 to 43 percent.
City finances have long been under pressure, but the Great Recession and steady attacks on federal and state spending have compounded local financial difficulties. The National League of Cities' annual research brief, City Fiscal Conditions, documents rapid deterioration. Reported revenue declines of 2.5 percent in 2009 and 3.2 percent in 2010 were unprecedented in severity in the 25-year history of the survey. In 2010, 79 percent of cities reported cutting personnel, 44 percent cut services, 25 percent cut public safety spending, and 17 percent cut current employees' health benefits. Expectations going forward are even more downbeat.
Hard times call for new thinking. We are going through a systemic crisis, not simply a political crisis, and the assumptions of the last three decades about the relationship among politics, social and economic programs, and the economy are now obsolete. Cities everywhere can find surprising answers to fiscal difficulties by looking to scores of little-known innovative strategies under way in diverse communities across the nation.
Democratic wealth-holding can give social democracy a new set of economic institutions and political power bases.
THE Occupy Wall Street protests have come and mostly gone, and whether they continue to have an impact or not, they have brought an astounding fact to the public’s attention: a mere 1 percent of Americans own just under half of the country’s financial assets and other investments. America, it would seem, is less equitable than ever, thanks to our no-holds-barred capitalist system.
But at another level, something different has been quietly brewing in recent decades: more and more Americans are involved in co-ops, worker-owned companies and other alternatives to the traditional capitalist model. We may, in fact, be moving toward a hybrid system, something different from both traditional capitalism and socialism, without anyone even noticing.