Green America is pleased to highlight a report released yesterday by the New Economy Working Group, an economics solutions alliance that is coordinated by our colleagues at the Institute for Policy Studies. The new report, Jobs: A Main Street Fix to Wall Street’s Failures, calls for a comprehensive jobs program that addresses the structural changes needed to shift the balance of economic and political power from Wall Street toMain Street.
The report is in keeping with Green America’s definition of “green” that unites both social and environmental goals. You can play a role in shifting power toMain Streetright now, if you haven’t already, by breaking up with your mega-bank! Putting your money inMain Streetfinancial institutions – ideally community development banks and credit unions – is an important way to build economic strength at the community level.
The new report’s 7-plank plan identifies the need to “Restructure the money system to root the power to create and allocate money in Main Street financial institutions that support Main Street job creation.” Not sure how to do your part to support this major goal? Then you’ll want to check out Green America’s Break Up with Your Mega-Bank toolkit.
The toolkit provides an easy step-by-step way to shift your bank accounts to a community development bank or credit union and includes lists of suggested financial institutions. The kit also provides information on other forms of community investments and links to resources for faith organizations and for alumnae and students who want to urge their institutions to become community investors. For stories about the real life impacts of community investments and additional resources, you’ll want to read our Community Investing Guide.
In addition to revamping how we bank, the report’s recommendations include replacing conventional financial indicators with real wealth indicators as the basis for evaluating economic performance; restoring the middle class by restoring progressive tax policies and a strong and secure social safety net; protecting markets and democracy from corruption by eliminating concentrations of unaccountable corporate power; and organizing the global economy into economies that align with the structure and dynamics of Earth’s biosphere. If you want to be inspired by the future we can create together, you’ll want to read A Main Street Fix to Wall Street’s Failures.