Other Publications

The potential of public banks to fund local quality public services: A policy brief for workers and trade unions

Author:

Thomas Marois

Year:

2023

Publisher:

Public Services International

Number of pages:

Available languages:

English, French, and Spanish

Available Formats:

PDF (EN)

Abstract

This policy brief can be used by PSI trade unions to build an understanding of what public banks are, how they operate (or should operate), where they can be found in their local communities, what good governance could look like (including workers and community participation), and how they can be mobilised in the public interest. For instance, public banks can be mandated to strengthen quality local public service provision, to finance local infrastructure, to generate local economic development and to boost quality employment in the community. However, as the field of public banks has been neglected for decades because of the dominant neo-liberal approach to academic research in finance and banking studies, many questions remain unanswered. Regardless, this policy brief provides an excellent, simple and clear starting point for any public service union to become acquainted with the issue, to build alliances and campaigns around it with other pro-public and civil society organisations, and to engage or negotiate with their LRG employers over reclaiming public banks and their resources in the public interest