In 1913, the U.S. Treasury gave our country’s sovereign right to create currency to the Federal Reserve Bank (which is essentially a private commercial entity with little to no oversight from Congress). Prior to 1913, the Federal government had created money itself. These were called Greenbacks. The value of a Greenback fell dramatically during and…
Category: self-funded
Public Banking
A public bank is essentially a nonprofit organization, owned by a local, state or federal government that manages its own checking/savings accounts. The Bank of North Dakota, which has been in operation since 1919 with great success, deposits all tax and fee revenue in the state bank and uses it to to finance public infrastructure,…
Utilities
Utility companies provide electricity, cable Internet, cell service and natural gas. The free market may be less capable of providing utilities because generally only one utility company can operate in each area, and/or because governments often regulate or subsidize the construction of lines and access, and this benefit should not go to any private corporation. …
Mass Transportation / Public Roadways
All citizens share the roadways and mass transportation systems. Even those who do not use mass transportation can benefit from these services insofar as the systems increase property values by making commuting more efficient. No individual can have access to such a system without a community or a corporation to provide it. Since roadways and…
Access to Culture
Some believe that culture –literature, visual art, music, theater and etc.– is an important aspect of a healthy state. Culture, as distinct from entertainment, is often not commercially viable. How, then, do artists support themselves? During the Great Depression, the Work Progress Administration funded many public art projects. Some of these state-sponsored art projects were…
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