As the long cold nights grow darker this month, sustainable economic theories have overtaken my bed time reading. My friend Sash and I joined a sustainable economics study group that is analyzing how to create a healthy viable locally based food system, as well as a functional interconnected regional non-monetary economic infrastructure. I am not sure if we will be able to find the answers to these complicated difficult questions, but the abstract pursuit of possible solutions has been a most enlightening adventure.

 

robert reich

Former Secretary of Labor Robert Reich illustrates some simple solutions to help fix our nation's current economic depression.

Thoughts of potential small scale economic solutions and Joseph Schumpetetr’s concepts of creative destruction were all swirling around in my brain this morning, when I came across this clarifying video from the highly esteemed economist, Robert Reich. He clearly explains what some of our country’s largest financial system problems are, offers a clear plan with well defined policy solutions, then presents this concise message to President Obama:

“We’ll give you a mandate in your second term to raise taxes on the rich, including capital gains taxes, and put a tax on financial transactions; also, resurrect the Glass-Steagall Act, limit the size of big banks, and force them to modify mortgage loans of millions of Americans who are now underwater; and invest in public schools and other infrastructure so that all Americans can prosper in this new economy.”