This report from Professor Michael McCarthy lays out a new way to run a public bank, with regular people at the table. Using randomly selected citizen panels, like a jury, everyday Angelenos would help set investment priorities, guide research, provide oversight, and make sure historically excluded communities have a voice.
“Democratic Governance Frameworks,” Part 2 of our Los Angeles public bank series, makes the case that the people whose money funds the bank should have a say in how it’s invested. And the same principles could open up decision-making across our whole economy.
