On the Popular Resistance blog, Margaret Flowers and Kevin Zeese insist that a new economic system is needed to create a democratized economy:
People are realizing that they cannot make it in the current Wall Street dominated corporate capitalist economy. It is not designed for most people to make it. Rather it is designed for a small percentage to profit while everyone else is exploited and economically insecure.
A new economic model is gravely needed and has in fact taken root worldwide and increasingly in the US. People are not waiting for Congress, and are instead taking action to create the new democratized economy in many areas from finance to employment to food, energy and health care.
Two years ago, we organized the economic democracy conference of the first national Democracy Convention. More than 1,000 people attended and the energy for creating real democracy was high.
The second national Democracy Convention will take place this August 7 to 11 in Madison WI. Once again, It’s Our Economy is organizing the economic democracy conference, this time in partnership with the Public Banking Institute. Our focus this year is to bring those who have been building the new economy together to share what they are learning so that participants can put new systems in place in their own communities.
Since 2011, efforts to build local economies and create affordable and sustainable supplies of the basic necessities have all advanced, and the potential for the future is amazing. Gar Alperovitz, a political economist who will be a speaker at the convention, recently had an article published in the New York Times about the vast potential of the aging baby boomer generation reaching retirement. Owners of businesses can take steps to transfer ownership of their businesses to their workers, this provides economic benefits to both the owners and the workers, and builds the foundation for a new economy – worker ownership building the wealth in workers. Continue reading