PUBLIC BANKING CAN IMPROVE THE LIVES OF US WORKERS WHILE HELPING SAVE THE PLANET

“The lack of alternatives to Wall Street banks gave rise to the Public Bank LA initiative, which began a campaign to establish a municipal bank that would be owned by the city of Los Angeles.”

The movement to create public banks is gaining ground in many parts of the U.S., particularly as part of an effort among activists and progressive lawmakers to extend banking access to low-income communities and communities of color in the post-COVID-19 economy. But how does public banking help protect the local community and assist with development? If public banks become part of the Federal Reserve — as a bill introduced by Representatives Rashida Tlaib and Alexandria Ocasio-Cortez aims to do — what would be the consequences? Leading progressive economist Gerald Epstein, professor of economics and co-director of the Political Economy Research Institute at the University of Massachusetts at Amherst, has studied the issue of public banking extensively and sheds ample light on these questions in this exclusive interview for Truthout.

Share this article

Related Posts

unnamed-6
TAKING BACK LOCAL CONTROL: LA NEEDS A PUBLIC BANK
unnamed-1
PUBLIC BANKING IN A TIME OF CRISIS: HOW TO REBUILD LOS ANGELES
473756694_951885360372074_3434165678227755916_n
REBUILDING LA
Copy of Untitled Design
PUBLIC BANKING MOVEMENT RESOURCES - NOVEMBER 2024 NEWSLETTER

RECENT POST

unnamed-6
TAKING BACK LOCAL CONTROL: LA NEEDS A PUBLIC BANK
unnamed-1
PUBLIC BANKING IN A TIME OF CRISIS: HOW TO REBUILD LOS ANGELES
473756694_951885360372074_3434165678227755916_n
REBUILDING LA
Copy of Untitled Design
PUBLIC BANKING MOVEMENT RESOURCES - NOVEMBER 2024 NEWSLETTER
456613624_2743096445860328_6608049066999876536_n
LA PUBLIC BANK COALITION ADVOCACY DAY AT LA CITY HALL