July, 19 2011, 02:32pm EDT
For Immediate Release
Contact:
Lacy MacAuley, Institute for Policy Studies, (202) 445-4692 mobile, lacy@ips-dc.org
Kat Gjovik, Living Economies Forum, (206) 780-0108, kat@greatturning.org
"How to Liberate America from Wall Street Rule," New Report, Proposes a Way Out of Economic Recession
WASHINGTON
As Republicans and President Barack Obama continue to discuss solutions to the U.S. budget crisis, a new report proposes innovative solutions to unemployment and the economic crisis. The report, "How to Liberate America from Wall Street Rule," by the New Economy Working Group, proposes a revolutionary six-part agenda for ending Wall Street's disastrous hold on the economy and creating a community-based, publicly accountable money and banking system responsive to the needs and opportunities of the United States in the 21st century. (Read a blog post by David Korten about the report via Yes! Magazine.)
The report calls for the Federal Reserve to be restructured to limit its capacity and subject it to federal oversight and public accountability. It supports an emphasis on state-level and local banks. It proposes the creation of a new federal bank for the finance of environmentally sustainable infrastructure projects in the United States, which would receive funds from the Federal Reserve's money supply expansion activities. It makes a case for trade law that promotes domestic ownership and production. And it calls for regulatory controls that would promote investments in production and the real economy rather than the speculative market.
Dr. David C. Korten is lead author of the report. He is co-chair of the New Economy Working Group, co-founder and board chair of YES! Magazine, founder and president of the Living Economies Forum, and a founding board member of the Business Alliance for Local Living Economies (BALLE). His books include Agenda for a New Economy: From Phantom Wealth to Real Wealth, The Great Turning: From Empire to Earth Community, and the international best seller When Corporations Rule the World. He has MBA and Ph.D. degrees from the Stanford Business School. In his earlier career he served as a captain in the U.S. Air Force, a Harvard Business School professor, a Ford Foundation project specialist, and Asia regional adviser on development management to the U.S. Agency for International Development. He is a regular guest on talk radio and television and a popular speaker at conferences around the world.
DOWNLOAD a copy of the report.
Interviewees:
Dr. David C. Korten, lead author, "How to Liberate America from Wall Street Rule," liberateamerica@neweconomyworkinggroup.org
John Cavanagh, Director, Institute for Policy Studies, via lacy@ips-dc.org
Institute for Policy Studies turns Ideas into Action for Peace, Justice and the Environment. We strengthen social movements with independent research, visionary thinking, and links to the grassroots, scholars and elected officials. I.F. Stone once called IPS "the think tank for the rest of us." Since 1963, we have empowered people to build healthy and democratic societies in communities, the US, and the world. Click here to learn more, or read the latest below.
LATEST NEWS
'The Opposite of Leadership': US Vetoes Palestine's UN Membership
Palestine's permanent observer at the United Nations said the resolution's failure "will not break our will, and it will not defeat our determination."
Apr 18, 2024
U.S. President Joe Biden's administration on Thursday used the country's veto power at the United Nations Security Council to block Palestine's bid to become a full member of the U.N.
While 12 nations voted in favor of Palestinian membership and two abstained, the United States is one of five countries—along with China, France, Russia, and the United Kingdom—who have veto authority at the Security Council.
Since Israel launched what the International Court of Justice has said is a "plausibly" genocidal assault of the Gaza Strip in response to a Hamas-led October attack, the Biden administration has blocked three cease-fire resolutions at the Security Council. Under mounting global pressure, the U.S. finally abstained last month, allowing a cease-fire measure to pass.
In the lead-up to Thursday's vote, the Biden administration was pressuring other countries to oppose the Palestinian Authority's renewed membership effort so it could possibly avoid a veto, according to leaked cables obtained by The Intercept.
"Take a moment to ponder how isolated Biden has made the U.S.," said Trita Parsi, executive vice president of the Quincy Institute for Responsible Statecraft, after the veto. "Biden lobbied Japan, South Korea, and Ecuador HARD to oppose the Palestine resolution so that the U.S. wouldn't have to veto. They refused. So Biden cast his fourth veto in seven months (!!) This is the opposite of leadership."
In addition to the nations Parsi highlighted, Algeria, China, France, Guyana, Malta, Mozambique, Russia, Sierra Leone, and Slovenia voted for giving Palestine full U.N. membership while Switzerland and the United Kingdom abstained.
After the vote, U.N. Newsreported on remarks from Riyad Mansour, a U.N. permanent observer for the state of Palestine:
"We came to the Security Council today as an important historic moment, regionally and internationally, so that we could salvage what can be saved. We place you before a historic responsibility to establish the foundations of a just and comprehensive peace in our region."
Council members were given the opportunity "to revive the hope that has been lost among our people" and to translate their commitment towards a two-state solution into firm action "that cannot be maneuvered or retracted," and the majority of council members "have risen to the level of this historic moment, and they have stood on the side of justice and freedom and hope, in line with the ethical and humanitarian and legal principles that must govern our world and in line with simple logic."
"The fact that this resolution did not pass will not break our will, and it will not defeat our determination," Mansour added. "We will not stop in our effort. The state of Palestine is inevitable. It is real. Perhaps they see it as far away, but we see it as near, and we are the faithful."
Parsi said that "a Western-friendly senior Global South diplomat" told him of Biden's veto: "Whatever agonizing claim the U.S. had to lead a self-appointed free world has died a very loud public death on the Security Council horseshoe tonight. YOU CAN'T LEAD IF YOU CAN'T LISTEN."
Biden, a Democrat seeking reelection in November, has faced fierce criticism in the United States and around the world for U.S. complicity in Israel's war on Gaza—which Hamas, not the Palestinian Authority, has controlled for nearly two decades. In under seven months, Israeli forces have killed 33,970 Palestinians, injured another 76,770, displaced most of the besieged enclave's 2.3 million population, devastated civilian infrastructure, and severely limited the flow of lifesaving humanitarian assistance.
Israel—which already got $3.8 billion in annual U.S. military aid before October 7—continues to receive weapons support from the Biden administration, even as a growing chorus of critics, including some Democrats in Congress, argues that the arms transfers violate U.S. and international law.
Keep ReadingShow Less
'Shameful': Columbia Greenlights Police Crackdown on Anti-War Encampment
Even after dozens of students were arrested, hundreds "rushed to take the place of their classmates" and continued the protest.
Apr 18, 2024
The arrests of dozens of Columbia University and Barnard College students on Thursday "galvanized" other supporters of Palestinian rights on the campuses, as hundreds of students occupied the school's western lawn after New York City police filled at least two buses with protesters who had been detained for setting up an encampment.
"Disclose, divest, we will not stop, we will not rest," chanted hundreds of students as they marched around the area where organizers had set up a tent encampment early Wednesday morning.
Columbia President Minouche Shafik informed the campus community on Thursday that she had authorized the police to clear the encampment.
As it has been in the past, the school has become a center of anti-war protests—and crackdowns by school officials and the police—since Israel began its bombardment of Gaza in October.
Pro-Palestinian students and alumni have demanded that Columbia divest from companies that profit from Israel's apartheid policies in the occupied Palestinian territories and cancel its dual degree program with Tel Aviv University.
In response to pro-Palestinian demonstrations, Columbia in November suspended the campus chapters of Jewish Voice for Peace and Students for Justice in Palestine—an action that pushed the New York Civil Liberties Union and Palestine Legal to file a lawsuit on behalf of the students last month.
On Thursday, police and Columbia employees took down about 50 tents that had been up for more than a day and disposed of them in trash cans and alleyways—but The New York Times reported later that "demonstrators repitched a couple of tents, and ... recovered the main signage from the encampment as well," while hundreds of students were "still gathered and chanting on the south side of the grass."
The arrests came a day after Shafik testified before the U.S. House Committee on Education and the Workforce about antisemitism on campus.
U.S. Rep. Ilhan Omar (D-Minn.), whose daughter, Isra Hirsi, was among the Barnard students who were suspended on Thursday for participating in the encampment protest, questioned Shafik about whether antisemitic protests have actually taken place at Columbia, prompting the president to say there have not.
"There has been a rise in targeting and harassment against anti-war protesters, because it's been pro-war and anti-war protesters is what it seems, like, correct?" asked Omar.
"Correct," replied Shafik.
On Thursday, Omar posted on social media two images of protesters at Columbia: one from the encampment this week, and one from 1968, when students protested the U.S. war in Vietnam.
New York City Council member Tiffany Cabán was among those who condemned the university's crackdown on the protests on Thursday.
"Suspending and arresting Columbia/Barnard student activists and disbanding student organizations—including Jewish students and organizations—doesn't combat antisemitism or increase safety," said Cabán. "All it does is punish and intimidate those who believe in human rights for Palestinians. Shameful."
Keep ReadingShow Less
'The Pressure Is Working': Biden Weighs Climate Emergency Declaration
Campaigners urged the president to "keep listening to the millions of young, people of color, and working-class voters who are demanding climate policy that meets the moment."
Apr 18, 2024
The youth-led Sunrise Movement on Thursday celebrated Bloombergreporting that "White House officials have renewed discussions about potentially declaring a national climate emergency."
The Wednesday revelation came just two days after six young activists were arrested outside Vice President Kamala Harris' Los Angeles, California home to increase pressure on the Biden administration to make such a declaration, which would unlock various federal powers to combat the fossil fuel-driven global crisis.
According to Bloomberg:
Top advisers to President Joe Biden have recently resumed talks about the merits of such a move, which could be used to curtail crude exports, suspend offshore drilling, and curb greenhouse gas emissions, according to people familiar with the matter who asked not to be named because a final decision has not been made.
White House advisers are divided over the idea of declaring a climate emergency, with some saying it wouldn't provide Biden with enough newfound authority to make substantial changes, the people said. Others, however, argue such an announcement would galvanize climate-minded voters.
"The pressure is working. Let's keep it up," Sunrise said on social media, highlighting some of what Biden—who claimed last year that "practically speaking," he had already declared a national climate emergency—could do with a real declaration.
Sunrise wasn't alone in welcoming the news. The Center for Popular Democracy (CPD) Action said that "we've BEEN calling for a climate emergency!! Now, the White House is considering declaring one."
The group urged Biden to "keep listening to the millions of young, people of color, and working-class voters who are demanding climate policy that meets the moment."
As Biden and Harris have campaigned for reelection in November—when they are expected to face former Republican President Donald Trump, whose plan for the planet is "drill, baby, drill"—the Democrats have encountered intense pressure from campaigners including members of CPD and Sunrise to step up their climate actions.
"I'm on the frontlines raising my voice for my Black and Latine families and friends, because I know that we deserve to have affordable housing and healthcare, we deserve an administration who will fight for us, but instead of declaring a climate emergency, we are seeing Biden and Harris expand oil and gas production to record levels," 18-year-old Ariela Lara, who was arrested at Harris' house, said Monday.
Climate campaigners have praised the Biden administration for parts of the Inflation Reduction Act and a recent pause on liquefied natural gas exports but blasted the president for skipping last year's United Nations summit, continuing fossil fuel lease sales, and enabling the Mountain Valley Pipeline, Willow oil project, and construction of the nation's largest offshore oil terminal.
Keep ReadingShow Less
Most Popular