News Release

Slush Fund or Democratic Economy?


DEAN BAKER, EILEEN APPELBAUM, via Dan Beeton, beeton at
Baker is co-founder and senior economist with the Center for Economic and Policy Research and just co-wrote the piece “Yes, This is an Emergency. No, That Doesn’t Justify a $500 Billion Trump/Mnuchin Slush Fund.”

Appelbaum is co-director of the group, which recently released the report “Concrete Solutions to Mitigate the Health and Economic Impacts of the Pandemic.”

THOMAS HANNA, tmhanna at, @DemocracyCollab
Hanna is director of research at the Democracy Collaborative, and works with the Next Systems Project. He has researched and written extensively about how to deal with financial crises in a way that fosters democracy rather than produces giveaways to major corporations.

His pieces include:
* “The Crisis Next Time: Planning for Public Ownership as an Alternative to Corporate Bank Bailouts,” which states: “During the next crisis, a robust policy response can and should convert failed banks to permanent public ownership, rather than merely using public money to make corporate America whole again.”

* “A History of Nationalization in the United States: 1917-2009,” which states: “Nationalization is the process of bringing previously privately controlled assets under public authority.”

* “Constructing the Democratic Public Enterprise,” which states: “There is a great opportunity to develop forms of organization, governance, and regulation that stimulate public participation, increase accountability, and empower communities and individuals that have traditionally been excluded from economic decision-making in publicly owned enterprises and services.”