Tools for a New Economy: Proposals for a Financial Regulatory System

In this article in the Boston Review, Robert Pollin sketches out a set of proposals to reform our failed financial markets, while simultaneously turning the power of the markets towards productive activities, such as the development of clean-energy technologies. Pollin describes five elements of this financial reform: a modest tax on security trading, democratizing the Federal Reserve, asset reserve requirements, targeted loan guarantee programs, and the formation of a public credit rating agency.