1. Time to Remake the Economy Into OUR Economy By Kevin Zeese and Margaret Flowers Co-directors, It’s Our Economy www.itsoureconomy.us

2. 1. Describe the current economic and political environments and where they are going. 2. Describe the two-pronged approach to change economic and political power. 3. Describe what to do to create the new democratized economy that benefits people and the planet. OBJECTIVES

3. US GDP AND PRODUCTIVITY UP http://www.wealthdaily.com/articles/2012-economic- forecast-a-surprising-and-profitable-trend-emerges/3347 http://itsoureconomy.us/2012/11/the-myth-of-u-s- manufacturing-decline/

4. CORPORATE PROFITS ARE UP http://itsoureconomy.us/2012/12/two-charts-show-how-the- priorities-of-us-companies-have-gotten-screwed-up/ http://itsoureconomy.us/2013/01/corporate-profits- have-grown-by-171-percent-under-obama-highest-rate- since-1900/

5. JOBS ARE DOWN The percentage of Americans with jobs is at its lowest level in three decades. (The shaded areas of the chart represent recessions.) http://itsoureconomy.us/2012/10/heres-whats- wrong-with-the-economy-charts /

6. INCOME IS DOWN http://itsoureconomy.us/2013/0 2/the-collapse-of-america-in- two-charts/ Incomes for bottom 90% of Americans only grew by $59 on average between 1966 and 2011 (adjusted for inflation), according to David Cay Johnston. During the same period, average income for top 10% of Americans rose by $116,071.

7. RECOVERY FOR WHOM?

8. Higher taxes on the wealthy encourage investment in business and job creation. Lower taxes on the wealthy leads to hoarding. TRICKLE DOWN DOESN’T

9. WEALTH INEQUALITY IS GROWING http://itsoureconomy.us/2013/ 01/history-shows-want-to- control-deficit-spending-seek- full-employment/ http://itsoureconomy.us/2012/12/t wo-charts-show-how-the- priorities-of-us-companies-have- gotten-screwed-up/ The end of progressive taxation coincided with the beginning of the growing wealth divide.

10. WHO HAS THE MONEY?

11. No Conspiracy Theory — A Small Group of Companies Have Enormous Power Over the World WHO HAS THE POWER? http://itsoureconomy.us/2012/11/no-conspiracy-theory-a-small-group- of-companies-have-enormous-power-over-the-world/ A major scientific study identified a number of companies with outsized control over a huge portion of the earth’s economy. 147 “Superentities” were found to control 40% of global wealth.

12. Recession or worse? Instead of full employment, regulation of finance and investment in social infrastructure, we see:  False crises and debates  Privatization  Austerity  Debt-based Economy WHERE ARE WE HEADED?

13. SOLUTIONS TO EVERY CRISIS The people can rule better than the elites Evidence-based solutions to every crisis supported by supermajorities:  Tax the rich and corporations  End the wars, bring the troops home, cut military spending  Protect the social safety net, strengthen Social Security and improved Medicare for all  End corporate welfare for oil companies and other big business interests  Transition to a clean energy economy, reverse environmental degradation  Protect worker rights including collective bargaining, create jobs and raise wages  Get money out of politics http://october2011.org/standwiththemajority

14. Two simultaneous paths: 1. Protest to expose crises. 2. Build systems that reduce wealth divide and replace current systems. Human need, not corporate greed. HOW DO WE CHANGE DIRECTION?

15. What do you do in a crisis? Time for ICU:  Independent  Clear  Uncompromising BE BOLD!

16. Policy changes that will create real solutions: “The 99% Deficit Proposal” on October2011.org  Create a fair tax system/ guaranteed national income  Shift military spending to create economic security  Invest in CFNF energy economy  Erase student debt/ free higher education  End foreclosures and evictions  Strengthen Social Security  Medicare for all  Public jobs program HOW DO WE SOLVE THE DEFICIT? End the wars and tax the rich!

17. The Great Turning is a name for the essential adventure of our time: the shift from the Industrial Growth Society to a life-sustaining civilization. The ecological and social crises we face are caused by an economic system dependent on accelerating growth. This self-destructing political economy sets its goals and measures its performance in terms of ever-increasing corporate profits— in other words by how fast materials can be extracted from Earth and turned into consumer products, weapons, and waste. A revolution is under way because people are realizing that our needs can be met without destroying our world. We have the technical knowledge, the communication tools, and material resources to grow enough food, ensure clean air and water, and meet rational energy needs. Future generations, if there is a livable world for them, will look back at the epochal transition we are making to a life-sustaining society. And they may well call this the time of the Great Turning. It is happening now. - Joanna Macey THE GREAT TURNING

18. What are the values? Solidarity, cooperation, sustainability, democracy? Organize using those values! WHAT TYPE OF SOCIETY DO YOU WANT TO LIVE IN?

19. Alternative & local currencies/ Time banks/Barter Free stores Participatory budgeting Move your money Public Banks THE NEW ECONOMY: MONEY http://itsoureconomy.us/2013/03/how-public-banking- made-the-us-colonies-properous/

20. “B” corporations Community banks Local investment Taxpayer investment Progressive taxation Participatory taxation End the debt-based economy THE NEW ECONOMY: FINANCE

21. Eviction resistance Incentives to restore property Housing cooperatives Collectives/intentional communities Litigate bank mortgage fraud Community land trusts THE NEW ECONOMY: HOUSING http://blinktag.com/projects/irvine- community-land-trust/

22. Community gardens CSAs Grocery cooperatives Farmer training Farmer markets Seed exchanges Local distribution Buy local campaigns THE NEW ECONOMY: FOOD http://www.cityweekly.net/utah/article-14620-utah-co- op.html

23. Worker co-operatives (WSDE) Mondragon model Evergreen Model ESOPs Guaranteed income Living Wage Non-union workers movement THE NEW ECONOMY: JOBS http://www.peri.umass.edu/fileadmin/pdf/publishe d_study/spending_priorities_PERI.pdf

24. Non-corporate practices Healthy San Francisco Single payer health system Medical school rural track THE NEW ECONOMY: HEALTHCARE

25. Carbon-free nuclear-free energy economy Public ownership Energy cooperatives Feed-In-Tariffs THE NEW ECONOMY: ENERGY http://cleanenergyaction.org/learn-more/feed-in-tariffs/

26. Public transportation Car sharing Bike rentals Walkable/bike safe cities THE NEW ECONOMY: TRANSPORTATION http://blog.oregonlive.com/commuting/2012/05/portland_on ce_again_nations_to.html

27. THE NEW ECONOMY: EDUCATION Reverse privatization End testing industry Free college education Tenured professors Unionized teachers http://cityroom.blogs.nytimes.com/2012/12/03/students-seize- cooper-union-room-to-protest-possible-tuition/

28. Fund Our Communities Alternative foreign policy Real security THE NEW ECONOMY: PEACE

29. Shift the Power, Democratize the Economy Its Our Economy ItsOurEconomy.US Build power and resistance Occupy Washington, DC OccupyWashingtonDC.org Democratize the Media Clearing the FOG (Forces of Greed) Radio Show ClearingTheFOGRadio.org ClearingTheFOGRadio.org REMEMBER, IT’S OUR ECONOMY