Yeah. I think this is more interesting if it is a tiny slice of the economy, but acts as a bellwhether for keeping commercial institutions honest.
I do love that governance model, where the General Assembly is chosen by lottery, and they choose 5 of the 9 Governors :-) E > On Nov 8, 2021, at 3:46 PM, Chris Hahn <[email protected]> wrote: > > Clearly the velocity of the circulation of money in the economy is important. > It seems like this approach might help. However, I am skeptical of the > political process in the governance of such and institution. Back in the 80s > a public/political/private financial approach help boost the economy of > Japan. My opinion is that it backfired in the long run. > > From: [email protected] <[email protected]> On > Behalf Of Centroids > Sent: Monday, November 8, 2021 2:45 PM > To: Centroids Discussions <[email protected]> > Subject: [RC] Constructing the Democratic Public Bank: A governance proposal > for Los Angeles > > Very thoughtful approach to a potentially transformational innovation. > Love the use of sortition (election by lottery). > > Constructing the Democratic Public Bank: A governance proposal for Los Angeles > https://thenextsystem.org/learn/stories/constructing-democratic-public-bank-governance-proposal-los-angeles > > <https://thenextsystem.org/learn/stories/constructing-democratic-public-bank-governance-proposal-los-angeles> > (via Instapaper <http://www.instapaper.com/>) > In October 2019, the state of California passed AB-857, a historic law to > charter 10 local public banks. Efforts to incorporate these public banks are > now underway across the state. These public banks have the potential to > address a host of economic, social, and ecological crises, and public banking > efforts across the country are looking to California’s cities and regions to > lead the way. > State and local governments need public financial infrastructure to recapture > the public’s money being extracted by private banks and bond investors. The > economic recovery from COVID-19 must be equitable. The ongoing housing crisis > demands better tools to keep tenants and the public in control of housing and > real estate development. To address the climate crisis, the financial sector > must embed social values beyond profit. Economic development needs a paradigm > shift toward community wealth building, especially as part of strategies for > reparations for Black and Indigenous peoples. > But the success or failure of public banks in addressing these crises will > depend on “getting the institutions right.” The design of a public bank is a > political process with important choices to be made at every step. Banking, > finance, and policymaking are intentionally obscure and technocratic > terrains. Ensuring the new public banks are designed to address these crises > requires ongoing popular education and engagement. > To that end, this report > <https://democracycollaborative.org/sites/default/files/2021-07/Constructing-democratic-public-bank-final.pdf> > proposes a governance design for the Los Angeles Public Bank and a more > general democratic public bank model. The aim is to provide Los Angeles’ > residents, organizations, policymakers, and other community stakeholders a > starting point to draw from for questions of who the public bank serves and > how. The strategic framework here provides a critical method of analyzing the > bank’s functions—its mandates, missions, programs—and forms—its governance > structures and the political-legal sequencing to get it fully operational. > Part I of this report situates the research within existing legal and > political dynamics by providing a local, state, and federal context of public > banking, as well as existing precedents. Part II draws from the theoretical > frameworks of public money, community wealth building, democratic public > ownership, and dynamic public banks to articulate a new aspirational model of > democratic public banks. Part III proposes an institutional design of the Los > Angeles Public Bank based on the democratic public bank model. Part IV > concludes with reflections on the future of public banking in Los Angeles and > the US. > Proposed governance structure > > The graphic below depicts proposed governance structures for the Los Angeles > public bank. Click the graphic for an enlarged PDF, excerpted from the report. > > <https://democracycollaborative.org/sites/default/files/2021-07/Public-banking-proposed-structure.pdf> > > > Sent from my iPhone > -- > -- > Centroids: The Center of the Radical Centrist Community > <[email protected] <mailto:[email protected]>> > Google Group: http://groups.google.com/group/RadicalCentrism > <http://groups.google.com/group/RadicalCentrism> > Radical Centrism website and blog: http://RadicalCentrism.org > <http://radicalcentrism.org/> > > --- > You received this message because you are subscribed to the Google Groups > "Centroids: The Center of the Radical Centrist Community" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected] > <mailto:[email protected]>. > To view this discussion on the web visit > https://groups.google.com/d/msgid/RadicalCentrism/9F442EFE-3322-400B-B11F-E8B06899B43E%40radicalcentrism.org > > <https://groups.google.com/d/msgid/RadicalCentrism/9F442EFE-3322-400B-B11F-E8B06899B43E%40radicalcentrism.org?utm_medium=email&utm_source=footer>. > > -- > -- > Centroids: The Center of the Radical Centrist Community > <[email protected] <mailto:[email protected]>> > Google Group: http://groups.google.com/group/RadicalCentrism > <http://groups.google.com/group/RadicalCentrism> > Radical Centrism website and blog: http://RadicalCentrism.org > <http://radicalcentrism.org/> > > --- > You received this message because you are subscribed to the Google Groups > "Centroids: The Center of the Radical Centrist Community" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected] > <mailto:[email protected]>. > To view this discussion on the web visit > https://groups.google.com/d/msgid/RadicalCentrism/024801d7d4fa%24e6e3f2d0%24b4abd870%24%402chahn.com > > <https://groups.google.com/d/msgid/RadicalCentrism/024801d7d4fa%24e6e3f2d0%24b4abd870%24%402chahn.com?utm_medium=email&utm_source=footer>. -- -- Centroids: The Center of the Radical Centrist Community <[email protected]> Google Group: http://groups.google.com/group/RadicalCentrism Radical Centrism website and blog: http://RadicalCentrism.org --- You received this message because you are subscribed to the Google Groups "Centroids: The Center of the Radical Centrist Community" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/RadicalCentrism/D84EA645-A389-4D56-952E-44E9B7521223%40radicalcentrism.org.
