Princeton

Public Banking Candidate Wins NJ Dem Primary

In early June, NJ gubernatorial candidate and public banking supporter Phil Murphy won the Democratic Primary. Is this the beginning of a new era of mainstream acceptance of public banking in American public policy?  What does it mean for the movement? Check out this blog post from the Public Banking Institute’s Blog… Last week’s gubernatorial primary resulted…

Ben Franklin

How the Quakers Put the ‘Public’ in Banking

During the third week of June, hundreds of southwestern Quakers met for their annual gathering at Ghost Ranch in northern New Mexico. The theme was “About Money: a call to Integrity, Community and Stewardship”. While there, I spoke about Quakers’ history with public banking, and about the explosion in public banking efforts happening across our…

Hawaii

Hawaii Becomes First State to Pass Basic Income

Futurists tell us that there won’t be enough work in the future because technology will replace workers who now do repetitious or low-skilled work. This has prompted Libertarians (who want smaller government) and Progressives (who want to guarantee a social safety net for workers) to look at the idea of basic income. Would it be…

Public Banking & the Nonpartisan League: Is It Time for a Financial Revolution?

  During this political season, we have heard a lot about too-big-to-fail banks, corporate greed, politicians on the take, bad trade deals, inequality and … starting a revolution to save the middle class. Just over 100 years ago, at the dawn of the first American Progressive Era, the same conditions sparked a revolution which spread…

What Wall Street Costs America (and Arizona)

The Public Banking Institute (PBI) has initiated an educational project entitled “What Wall Street Costs America.” PBI and advocates around the country are learning to read Comprehensive Annual Financial Reports (CAFRs). All governmental bodies must issue annual CAFRs– including the State of Arizona (here), the State Retirement System (here), Pima County (here), Tucson (here), and Tucson…

Rising Debt Service Costs: Public Banks for Tax Relief

Here is a great article by Mike Kraus, one of the founding members of the Public Banking Institute and Chair of Pennsylvania’s Public Banking Project. This was originally published in the Bucks County Courier Times. By Mike Krauss Across the United States, states and municipal governments struggle to provide essential public services, such as schools,…