Nomi Prins thinks so. Our current banking system is moved by private profit, not the public good. Yet, the states across our nation are sorely in need of better roads, ports, bridges and railways, more affordable higher education, and fully funded public schools. North Dakota has had public banks for 100 years. They use them to reinvest public funds in their communities by offering low-interest business and student loans, investing in clean energy, and supporting local infrastructure projects. California is pushing a new bill to give cities the freedom to start public banks accountable to the communities they serve.
Beyond disaster response, public banks would help with disaster relief, social endeavors, and provide community control over where and how these funds are allocated.
No comments:
Post a Comment