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Shuts and Failures

by Michael Maiello

Dan Kervick's picture

Resolved: Economic Democracy and Visionary Public Purpose

by Dan Kervick 6/4/2012 - 10:57 pm

According to their website, the Alternative Banking Working Group is “a group of concerned citizens, activists, and financial professionals with two goals: the first is to explore and, if possible, establish alternative banking systems that might replace the current system. The second goal is to broadly understand and educate people about the current financial system, as well as come up with short and long term plans to improve it.”

A member of the working group, Chris Wroth, recently posted a call for a proposal to be presented to the Occupy Wall Street General Assembly, with the aim of achieving a consensus on “an effective fiscal/monetary policy for addressing the problems of wealth inequality and economic injustice. ”  Sensibly, Wroth called for a proposal that is “short, simple, and sweet. ”  He suggested that “to reach consensus a proposal will have to be boiled down to a few clear sentences.  (Something that can be read and understood in less than a minute?).”

But Wroth made a further suggestion that I found perplexing:

[Read the rest at New Economic Perspectives]

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Agree with the silliness of disregarding private money.

However, I'm torn with "democratization" of the Fed - that's just as open for politicization as the current system. (whatever happened to our Social Security lockbox? or our Constitutional protections against detention and torture for that matter)

If we put this up to the ballot box, before it would be subject to normal selfish lies & pressures. Now it'll be subject to a massive disinformation campaign by the Koch Brothers. Don't know if any good alternatives, just pointing out the quandary.

by PeraclesPlease 6/5/2012 - 1:56 am

A guaranteed job or income as well? Offhand, I'd add that.

In line with PP, it does seem that what needs reforming before we can get to your proposals--or keep them from being perverted--is reform of our political system.

Who else would implement this proposal other than Congress?

And who now (mostly) controls Congress other than the plutocracy you aim to corral?

And why would they want reform (like this) to take place?

I know you're not required to solve all problems in a short essay, but this seems like a glaring pre-requisite to implementing your proposal.

by Peter Schwartz 6/7/2012 - 1:14 pm

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