Read more about Cities Building Community Wealth Public ownership is more widespread and popular in the United States than is commonly understood. This book is the most comprehensive and up-to-date analysis of the scope and scale of U. Hanna offers a vision of deploying new forms of democratized public ownership broadly, across multiple sectors, as a key ingredient of any next system beyond corporate capitalism.
This book is a valuable, extensively researched resource that sets out the past record and future possibilities of public ownership at a time when ever more people are searching for answers. The purpose of the session was to discuss how to achieve unprecedented scale of employee ownership by focusing on achieving an audacious goal: 50 million U. This report summarizes and expands upon the June meeting:. Our first cohort of Lab participants is bringing together five Native organizations for ongoing training and consultation as they develop new community-owned enterprises.
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Our executive director outlines how community wealth building can help empower marginalized communities. Our new report, Higher Education's Anchor Mission , examines how an ongoing—and expanding—effort to track the impact of colleges and universities on the financial and social well-being of their surrounding neighborhoods is helping these anchor institutions align their resources to build stronger community partnerships and create more inclusive local economies.
The expansion brings more than new employees into the company, joining the 50 workers employed at the original laundry. Anchor institutions can play a key role in helping the low-income communities they serve by better aligning their institutional resources—like hiring, purchasing, investment, and volunteer base—with the needs of those of communities.
Our Community-Wealth. For almost a decade, our site has served as a central clearinghouse for key research and reports from the field, cutting across traditional community development silos and offering a comprehensive guide to local wealth building strategies. Today most of our money is created, not by governments, but by banks when they make loans.
This book takes the reader step by step through the sausage factory of modern money creation, explores improvements made possible by advances in digital technology, and proposes upgrades that could transform our outmoded nineteenth century system into one that is democratic, sustainable, and serves the needs of the twenty-first century.
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The report focuses on the work of anchor institutions and partner organizations that have joined to form place-based networks, or anchor collaboratives, to develop, implement, and support shared goals and initiatives that advance equitable and inclusive economic development strategies. Anchor mission work is not easy, but our hope is that this state of the field report will provide information and assistance to groups wanting to do anchor mission work or to create anchor collaboratives.
New initiative will build a more inclusive economy by connecting resources of anchor institutions to community needs. Overall, Creating an economy that works for all Northern Virginia residents, especially the disproportionately Black and Hispanic communities that lack the opportunities to prosper and build wealth whiter ones enjoy, requires aligning all available resources in the region in a coordinated effort.
Right To Own: A Policy Framework to Catalyze Worker Ownership Transitions Peter Gowan Our new report explores the "right to own"—giving workers the right of first refusal anytime their workplace is up for sale—as a strategy to massively scale up employee ownership in the economy.
We outline the major provisions and legal changes necessary to enact this right, and the ecosystem of support and financing necessary to make it truly operative for workers. From January 16th to 18th, the second Anchor Collaborative Convening brought together 55 leaders and champions of anchor collaboratives from 25 communities across the US and Canada. Casey Foundation, and to all of our participants who brought thoughtful, fun and creative energy throughout. Read more about January Anchor Collaborative Convening Anchor institutions are nonprofit or public institutions that are rooted in place.
These institutions have a mission to serve and are the largest employers and purchaser of goods and services in many communities. Also, they have other assets and capacities that can be leveraged to support reciprocal community development, including local hiring, procurement, and investment practices. Anchor mission strategies involve the entire university, including the business, community partnership, administrative, research and academic divisions.
Building community wealth.
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Skip to: Skip to content Skip to navigation. In his five years on the job, he has not only paid off his student loans but also saved enough for a down payment on an apartment in the Taipei suburb of Muzha.
In the eyes of many white-collar workers in Taiwan, Huang's ability to land a well-paying job and his own apartment through his own efforts puts him squarely in the "winners" column. But Huang has nothing on his reunion host. He first worked for a real estate agent for two years to build his knowledge of the property business and hone his instincts before investing full-time on his family's behalf. With the help of his family's contacts and financial support, and his bold use of leveraging, Hsiao Hu's real estate holdings have multiplied many times over the past seven years, and he has earned fame as one of Taipei's biggest investors.
Interest rates have stayed low these past few years in Taiwan, and real estate prices have soared. Using money to make money has been relatively easy," Hsiao Hu said frankly.
At one end of the spectrum a hard-working white-collar professional; at the other a big investor, or "rentier," who has used money to get wealthier. Huang and Hsiao Hu represent the "99 percent" and the "1 percent," respectively, and the gap between their incomes is only widening. Their story reflects Taiwan's gaping class divide and offers a concrete glimpse into the country's worsening income distribution. Most Taiwanese agree that the rich-poor divide has grown wider in the recent past, but the government seems oblivious to the phenomenon.
Many government agencies continue to propagate the idea that Taiwan's income gap is not serious relative to other countries in the world, and President Ma Ying-jeou has even suggested that narrowing the income gap is one of his administration's most significant achievements. It may seem odd that the public and the government have such diametrically opposed perceptions of the issue, but the explanation is fairly simple.
Official statistics fail to accurately reflect actual income distribution in the country. But many academics who study income distribution, including Chinese Culture University sociology professor Hong Ming-hwang and National Development Council deputy chief Chen Chien-liang, contend that the DGBAS's income survey involves random sampling and can be easily skewed by high-income individuals who refuse to take part in the survey.
Internationally, researchers have preferred looking at tax data, which they consider more authoritative, to discern changes in income patterns, and if this standard is applied to Taiwan, then the country's top 5 percent of income earners account for twice as much of national income as official statistics would suggest.
Even more alarming, Taiwan's wealth is rapidly being concentrated in the hands of the wealthiest 1 percent at the top of the income pyramid. A study by Hong covering household tax data in Taiwan over more than 30 years through found that taxpayers with the top 1 percent of taxable incomes — a group of about 56, people — saw their incomes rise sharply every year, with the exceptions of and following the bursting of the dot.
Table 2. The 1 percent at the top of the pyramid accounted for 14 percent of total taxable income reported in Taiwan in , an indication that income is being disproportionately concentrated in the hands of the top 1 percent based on a comparison with other countries. When Hong's results are stacked up against OECD data on the income of the top 1 percent in other economies, Taiwan emerges as the country with the second highest concentration of income at the top, trailing only the United States and finishing ahead of Singapore, Britain and Japan.
Table 3. Hong believes this is just the tip of the iceberg, because his study did not factor in income from property or stock sales.
It is widely accepted in Taiwan that a significant portion of the top 1 percent come from big land-owning families or investors who rely on real estate or stock deals to amass wealth. Just how much wealth is unclear, because under Taiwan's tax system, long criticized as being inequitable, capital gains on stock sales are not taxed, and those on property sales are taxed based on government-assessed values of land that are generally mere fractions of market value.
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As a result, the substantial earnings investors make from real estate and stocks are not listed as taxable income in personal income filings — "hidden wealth" that is left out of the tax data that research institutes depend on to gauge the extent of the rich-poor divide. In other words, the concentration of wealth in the hands of the rich and the gap between rich and poor in Taiwan is in fact exponentially more serious than existing statistical profiles would indicate. One statistical indicator does exist — a national wealth survey conducted by the DGBAS every five years — that at least offers a glimpse at the scale of this "hidden wealth" that tax statistics and income gap surveys simply cannot detect.
Table 4. The growing concentration of income and wealth in the hands of a few reflects an international trend. The exacerbation of the rich-poor divide has triggered a widespread popular outpouring of grievances around the world, from the "Occupy Wall Street" movement in the United States to the "Occupy Central" movement in Hong Kong. The growing stature of income inequality as a public issue was further illustrated by the heated debate that has bubbled up since Thomas Piketty, a professor of economics at the Paris School of Economics, published Capital in the Twenty-First Century last year.
The book argues that advanced economies led by the United States and Europe, have opted to print money and create greater liquidity to tide over problems when faced with financial crises or the more recent European debt crisis, undermining capitalism's self-adjusting mechanism to reshuffle the deck after an asset bubble bursts.