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Capital Gains: Broadening company ownership in the UK economy

Mathew Lawrence and Nigel Mason
Institute for Public Policy Research

The Institute for Public Policy Research (IPPR), the United Kingdom’s leading progressive think tank, is heading-up the Commission on Economic Justice, a two year initiative to examine the current state of the British economy and present a new vision for a more sustainable post-Brexit grounded justice and broadly-shared prosperity. In the fall of 2017, they reached out the Democracy Collaborative requesting evidence from the United States on broad-based ownership strategies and recommendations for how 
wealth can be generated and shared more equally across nations and regions, as well as gender, ethnic and socioeconomic groups. In response we submitted the below testimony on the best practices and innovative models that we’ve studied and supported across the country that present real solutions and viable alternatives to the trenchant challenges of the ever-worsening wealth inequality both here and abroad. They have used this testimony as support in their just released report: Capital Gains: Broadening Company Ownership in the UK Economy. 

Policy Brief: Rebuilding America's Infrastructure

Ellen Brown
The Democracy Collaborative

In The Next System Project’s first policy brief, Democracy Collaborative Fellow Ellen Brown, founder and president emeritus of the Public Banking Institute, explores what’s wrong with President Trump’s approach to infrastructure. By focusing on private investment and public-private partnerships (PPPs) to come up with the capital to invest in repairing and upgrading our infrastructure, his plan will accelerate (partial) privatization of public assets and impose huge costs upon local residents, to be repaid through local taxes and extractive and regressive user fees like tolls.

Drawing on the historical precedents of both Lincoln’s investments in railroad infrastructure and FDR’s financing strategies for the New Deal, Brown shows how public strategies for investing in infrastructure make far more sense than what Trump is likely to put on the table. She estimates that an approach grounded in the use of public depository banks, either at the federal level or spread across a state-by-state network, could cut the $1.18 Trillion financing costs associated with a $1 Trillion investment in infrastructure in the Trump plan, once the returns demanded by private investors are factored in, to a mere $200 Billion. Not only would such public banks be able to lend money for infrastructure projects at a far lower rate, the interest earned on such loans would return to the public coffers.

Brown also identifies an even bolder approach that could bring the costs of investment in infrastructure down to zero. By embracing its power to create money for the public good using an innovative “qualitative easing” approach to inject new money into the real economy, the federal government could directly cover the costs of the pressing upgrades and repairs to our nation’s roads, bridges, dams, water supplies, electrical grid, and transit lines without the need to borrow any money at all.

Panel: Can Inclusive Economic Development Build Better Jobs and a Stronger Regional Economy?

January 27th, 2016
The Aspen Institute, One Dupont Circle NW, Suite 700, Washington, DC 20036

On Wednesday, January 27, 2016, Washington, D.C. from 12:00-1:30pm, our Executive Vice President and a Senior Fellow, Marjorie Kelly, will speak on a panel alongside Richmond, Virginia Mayor Dwight C. Jones, and Sociologist and Fellow at The Worker Institute at Cornell, Sanjay Pinto. The discussion, part of The Aspen Institute's Working in America series, will be moderated by MSNBC's Dorian T. Warren, a Roosevelt Institute Fellow. Read more about Panel: Can Inclusive Economic Development Build Better Jobs and a Stronger Regional Economy?...

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