February 2010
“The Worst of the Pain” by Bob Herbert, New York Times Op-Ed, February 9, 2010
There is a great tendency in this country to refuse to see what is right in front of everybody’s eyes.While there is now, finally, a great deal of talk among the politicians and in the news media about unemployment, there is still almost a willful refusal to focus on just who is suffering the most from joblessness and underemployment.
Read Bob Herbert’s full Op-Ed piece here.
“The Cleveland Model” by Gar Alperovitz, Ted Howard, and Thad Williamson, The Nation, March 1, 2010
Something important is happening in Cleveland: a new model of large-scale worker- and community-benefiting enterprises is beginning to build serious momentum in one of the cities most dramatically impacted by the nation’s decaying economy.
Read the full article by Gar Alperovitz, Ted Howard, and Thad Williamson here.
“Shareowner Activists Develop Plan for Corporate Disclosure of Political Spending” by Robert Kropp, SRI-Advisor, February 5, 2010
Asserting that excessive corporate political spending reduces shareowner value and weakens corporate governance, shareowner advocates call on corporations to adopt a framework for disclosure developed by the Center for Political Accountability.
Read the full article by Robert Kropp here.
“Playing Ourselves for Fools” by Robert Kuttner, The American Prospect, January 25, 2010
Read the full article here.
“New Mexico Passes Sweeping Funds Bill” by Jim Rubenstein, Credit Union Times
The clash between banks and credit unions over public fund deposits took an unorthodox twist with community banks and CUs teaming up to pass, 65-0, a milestone bill in the New Mexico House. The bill enables a possible switch of $2-5 billion of state funds into CUs and small banks.
Read the full article here.
“Moral Bankruptcy” by Joe Stiglitz, Mother Jones, Jan/Feb 2010.
We allowed markets to blindly shape our economy, but in doing so, they also shaped our society. We should take this opportunity to ask: Are we sure that the way that they have been molding us is what we want?
We have created a society in which materialism overwhelms moral commitment, in which the rapid growth that we have achieved is not sustainable environmentally or socially, in which we do not act together to address our common needs. Market fundamentalism has eroded any sense of community and has led to rampant exploitation of unwary and unprotected individuals. There has been an erosion of trust—and not just in our financial institutions. It is not too late to close these fissures.
Read the full articles here.
This next item was forwarded by NEN member Jeffrey Hollender, who is publishing a new book, The Responsibility Revolution.
The book continues Jeffrey’s challenge to corporate leaders to step up and play a much larger role in solving the global ecological crisis and its cascading social and economic fallout.
The true practice of “responsibility” in business is a crucial component of our work. I believe that is a good opportunity to support a business leader who is willing to challenge his business and other to set a direction for business.
You can pre-order a copy of Jeffrey’s new book here.
The following link was forwarded by Zack Hasychak, Community Investing Program Coordinator at the Social Investment Forum, detailing the Treasury Department’s announcement that it will use up to $1 billion from the Troubled Asset Relief Program (TARP) to provide lower-cost capital to Community Development Financial Institutions. We will continue to update you as more details become available. Please do not hesitate to get in touch with us if you have any questions or concerns.
TARP Goes Across the Tracks, from www.portfolio.com
“The New American Environmentalism and The New Economy,” a lecture delivered by James Gustave Speth for the National Council for Science and the Environment, Jan. 21, 2010
You can download a PDF of his speech here.
“The Great Transition” by David Boyle
The Great Transition suggests a universal. Citizen’s Endowment of between £40,000 and £50,000 to give every adult an equal chance in life and the opportunity to invest in education, a business or local productive assets. This would be funded by a phased rise in inheritance tax on all estates up to 67 per cent and would go a long way to reducing the massive inequalities of inherited wealth in the UK.
Read David Boyle’s essay here.
ANNOUNCEMENTS
2010 National Interagency Community Reinvestment Conference, March 14–18, New Orleans, LA
Economists Launch Blog on “Triple Crisis” in Finance, Development and Environment
On February 1, new voices joined the policy debate on the global crises in finance, development, and the environment. The “TripleCrisisBlog,” with an initial roster of economic analysts from nine countries, was launched by the Global Development and Environment Institute (GDAE) at Tufts University (USA), India’s Economic Research Foundation (ERF), and the Heinrich Böll Stiftung-North America. The initiative is chaired by GDAE’s Kevin P. Gallagher and ERF’s Jayati Ghosh.
New Economy Working Group introduces Episode two of their new website, http://neweconomyworkinggroup.org/visions/living-wealth-indicators
International Forum on Globalization free meeting on “Evaluating Copenhagen: What it means for Ecology, Economy and Equity,” Feb. 16, 7–9 pm Washington, D.C.
Jewish Community Center Theatre
1529 16th Street Northwest
Washington, DC 20036
• Martin Khor, director of developing countries’ think tank, the South Centre
• Victoria Tauli-Corpuz, Director of the Tebtebba Foundation and Chair of the UN Permanent Forum on Indigenous Issues
• Maude Barlow, Chair of the Council of Canadians and Senior Advisor on Water to the President of the UN’s General Assembly
• Gopal Dayaneni, Movement Generation, head of delegation to Copenhagen for US grassroots leaders from urban, racial, economic and environmental justice groups
• Victor Menotti, Executive Director, International Forum on Globalization
This FREE event aims to provide US audiences with alternative perspectives on the outcomes of the December 2009 UN Climate Change Conference in Copenhagen.