Public Finance for the Future We Want (Lavinia Steinfort and Satoko Kishimoto)

By Lavinia Steinfort and Satoko Kishimoto (editors) - Transnational Institute, June 2019

Do you wish to see regenerative, equitable and democratic economies, built with collective power? We believe it is not only necessary but also very possible.Today’s economic system, fueled by an extractivist logic and prone to crises, has reignited and enflamed old monsters of racism, misogyny and other forms of fear and hate. Economic alternatives are needed now more than ever.

This book is about financial alternatives, drawn from real-world examples. It highlights the kinds of models that could become the new normal, building the basis for a democratically organized and life-sustaining future.Before the 2008 global financial crisis, the mantra was ‘there is no alter-native’ to the extractive economic model that has fostered excessive inequality and ecological destruction. Post-crisis, big banks were rescued and the blame misdirected to public spending.

This justified evermore harsh austerity measures, reinforcing the story that the public sector must rely on private finance to solve these ‘collaterals’.More than 10 years later, we know that private finance has not only failed to address these problems, it has intensified them. Civil society needs to unite behind systemic solutions before another financial bubble bursts.

Read the report (PDF).

Disclaimer: The views expressed here are not the official position of the IWW (or even the IWW’s EUC) and do not necessarily represent the views of anyone but the author.