RMI advocates debt forgiveness for recovery, linked with decarbonization

Forgive or reduce that debt burden, by an amount dependent on the (verifiable and additional) emissions reductions they achieve. In fact, we can apply the same approach to incentivize emissions reductions across all entities whose debt is held or issued by any government entity. If such an approach was augmented by dedicated loan guarantees or financing to bring down debt …

100 Dems Demand Corporate Accountability, DSA demands and more

Not This Time: Watch out for Wall Street Back during the Great Recession, we bailed out Wall Street. This time, we need to make sure the bailout is for the rest of us. By Ericka Taylor, Inequality.org We have entered uncertain times. The novel coronavirus has upended life around the globe, and none of us knows exactly how long the outbreak …

More COVID movement demands

Working People’s Demands in Response to Coronavirus PRIORITIES OF THE LABOR MOVEMENT TO ADDRESS THE CORONAVIRUS: PROTECT FRONT-LINE WORKERS Streamline approaches for allocating and distributing personal protective equipment to working people in greatest need. Issue a workplace safety standard to protect front-line workers and other at-risk workers from infectious diseases. Provide workplace controls, protocols, training and personal protective equipment. Provide …

Bringing about a deep institutional turn in ownership and control to democratize economic and political rights within the economy

The Democracy Collaborative and Common Wealth have begun a project that will last the course of 2020 to explore the new frontiers of public ownership in the twenty-first century, developing policy ideas in four areas where existing structures of ownership amplify corporate power, erode workers’ rights, increase inequality, and accelerate the climate crisis: digital infrastructure, IP and R&D, data and platforms, and land …

O&G leaving a mess behind, Warren and Bruenig’s conditions for stimulus

Excerpt from NYTimes, March 2020. The $700 billion bank bailout elicited a voter backlash, which means any aid this time is likely to have large strings attached. Those could include limits on executive compensation, prohibitions on stock buybacks and, most prominent, measures to force bailed out companies to keep workers on their payrolls. Senator Elizabeth Warren, Democrat of Massachusetts, released an …

The $700 billion bank bailout elicited a voter backlash: we don’t want to bailout to well-off equity holders

We are entering a recession – but what did we learn from the last one? March 20, 2020, in The Conversation, Ken-Hou Lin, Associate Professor of Sociology, University of Texas at Austin and Megan Neely, Postdoctoral Researcher, Stanford University As the coronavirus continues to spread around the world, it is abundantly clear that the global economy is entering a recession – the first we’ve …

Elizabeth Warren’s response to corona virus – the need for economic stimulus and paid sick leave

From Elizabeth Warren the US does not have particularly strong automatic economic stabilizers compared to other industrialized countries. Second, given the extremely low cost of government borrowing now, the US has the capacity to borrow and invest at a higher return. Third, history shows that it’s often hard to pass multiple stimulus packages in succession—and it’s better that the initial package is …

Government interventions should be predicated upon making the urgently required transition to a post-fossil fuel economy and society. Rescued or subsidized institutions (especially oil companies, airlines, and the banks that finance them) should be put under public control as part of an emergency climate transition plan

Lessons learned from 2008 In this case, any government interventions should be predicated upon making the urgently required transition to a post-fossil fuel economy and society. Rescued or subsidized institutions (especially oil companies, airlines, and the banks that finance them) should be put under public control as part of an emergency climate transition plan. Once in public control, these institutions …