Phil Murphy, the leading Democratic candidate for governor of New Jersey, has made a state-owned bank a centerpiece of his campaign. He says the New Jersey bank would “take money out of Wall Street and put it to work for New Jersey – creating jobs and growing the economy [by] using state deposits to finance local investments … and … support billions of dollars of critical investments in infrastructure, small businesses, and student loans – saving our residents money and returning all profits to the taxpayers.”

A former Wall Street banker himself, Murphy knows how banking works. But in an April 7 op-ed in The New Jersey Spotlight, former New Jersey state treasurer Andrew Sidamon-Eristoff questioned the need for a state-owned bank and raised the issue of risk. This post is in response to those arguments, including a short refresher on the stellar model of the Bank of North Dakota (BND), currently the nation’s only state-owned depository bank.

The system of fossil-fueled neoliberal capitalism is indeed moving toward an end of history, but only in the sense of the end of any historical advance of humanity as a productive, political, and cultural species due to the increasingly barbaric socio-economic and environmental conditions the system creates. There is now no alternative to the end of history as we know it. The sustainable development of human society co-evolving with nature including other species now depends on a definite historical break with capitalism as the dominant mode of production.

President Trump is unlikely to fulfill his dream of forcing Mexico to pay for his proposed wall along the United States’ Southern border.

If it is built, though, U.S. taxpayers will almost certainly foot the bill, which some have estimated could be as high as $50 billion.

With that said, it’s worth taking a step back to look at the economics of U.S.-Mexican relations to see how immigration from Mexico even became a political issue someone like Trump could use to his advantage.

Before dawn on the Dec. 21, 2016, dozens of police raided the headquarters of the Shuar Federation (FISCH) in the Ecuadorian Amazon and arbitrarily detained its president, Agustin Wachapá. The indigenous leader was thrown to the ground and repeatedly stamped on and ridiculed beneath the boots of police in front of his wife. The police then razed the Shuar Federation’s office—turning over furniture and carrying away computers. According to the indigenous leader's wife, her husband was taken away without any kind of explanation. An arrest warrant for Wachapá was never presented.  

President Donald Trump has promised to rebuild America’s airports, bridges, tunnels, roads and other infrastructure, something both Democrats and Republicans agree should be done. The country needs a full $3 trillion in infrastructure over the next decade. The $1 trillion plan revealed by Trump’s economic advisers relies heavily on public-private partnerships, and private equity firms are lining up for these plumbing investments. In the typical private equity water deal, for example, higher user rates help the firms earn annual returns of anywhere from 8 to 18 percent – more even than a regular for-profit water company might expect. But the price tag can come as a rude surprise for local ratepayers.