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After OccupyEconomic Democracy for the 21st Century$
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Tom Malleson

Print publication date: 2014

Print ISBN-13: 9780199330102

Published to Oxford Scholarship Online: April 2014

DOI: 10.1093/acprof:oso/9780199330102.001.0001

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Finance and Investment Democracy in Practice

Finance and Investment Democracy in Practice

Capital Controls, Public Banks, and Participatory Budgeting

(p.169) 7 Finance and Investment Democracy in Practice
After Occupy

Tom Malleson

Oxford University Press

This chapter examines real world examples of institutions that have been developed to democratize finance and investment. Three main areas are explored. The first section looks at the efficacy of capital controls. The second section examines various institutions of democratic finance—public banks, credit unions, and Mondragon’s bank the Caja Laboral. The third section looks at institutions of democratic investment—public investment at the state level and participatory budgeting at the local level. The final section inquires into the possibilities of transition toward these democratic structures. Overall, the central argument is that these democratic institutions, although not well-known, are indeed practically feasible, and their implementation can lead to important democratic progress.

Keywords:   economic democracy, financial democracy, investment democracy, sovereignty, credit unions, capital controls, public banks, Caja Laboral, public investment, participatory budgeting

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