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Out of the Shadows: Public Banking for Municipal Finance
In a recent essay, we advanced a proposal for sub-federal governments to sell municipal bonds to their own public banks. We took the city as our primary point of departure, but the same lessons are applicable to U.S. counties and states. Establishing a public bank that regularly purchases municipal debt, we argued, would not only significantly […]
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Zack Polanski’s Bold Politics Requires an Even Bolder Economic Vision: The Case for Democratic Public Finance
The Green Party of England and Wales is attracting new members in unprecedented numbers and achieving polling percentages that would have seemed impossible a year ago. However, tensions are building behind the scenes over the party’s economic programme. On December 12, 2025, just over 3 months since Zack Polanski’s election as party leader – the […]
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Democratic Public Finance: A Radical Vision for Mamdani’s New York City
Summary This document elaborates an emerging economic paradigm that is already latent in Zohran Mamdani’s plans and practices. The paradigm, which we call Democratic Public Finance (DPF), reframes money as an inexhaustible and malleable public institution. According to DPF, money is public credit, a capacious tool for mobilizing everyone’s capacities to meet our needs and […]
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The Case for Fiscal Insurgency
A common refrain keeps surfacing among prominent journalists- and commentators-in-digital-exile on BlueSky. Commenting on the emergence of yet another shadowy centrist think tank, New York Times columnist Jamelle Bouie observes: “Trump’s numbers are tanking and there is a palpable desire in the electorate for a real alternative and yet the only money in democratic politics is […]