Since the nineties the Humanist Parties around the world are proposing the creation a Public Bank to conduct interest-free loans to small entrepreneurs engaged in productive activities or who want to start with interest rates zero. The idea has many positive effects: promote productive development with lowest cost, as it is to be paid loans, not grants or gifts to the producers; reduce dependence on commercial banks and their policies of usury, encourage investment with a very low level of state bureaucracy, allow each small business owner to decide freely how to run their enterprise, etc. And it involves installing public spending fundamental value, that tax money is to serve people and not that people are to increase the treasury.
Obviously, in the midst of neoliberal boom of the nineties, this idea was not taken into account by government policy already delivered blindly to the mandates of international financial capital and the IMF and called for the conversion of state only in a repressive organization charge police, military and courts.
Before the Argentina crisis of 2001, the PH that country had made too powerful financial warnings towards taking the economy to the detriment of productive activities. They were not heard and the crisis hit.
Worldwide, the picture was similia, as forces, including humans, who warned of the excessive power of international banks were ignored until the outbreak of the economic crisis, which led everyone to recognize the excessive role of markets financial economy (and, indeed, the huge economic losses, bankruptcy companies and bankers prisoners). However, governments of all countries rushed to spend huge resources to save tax in the same which had produced the crisis, missing an excellent opportunity to make major economic reforms that tended to strengthen a productive and environmentally sustainable economy.
humanistic ideas and Public Banking Without Interest that had been dramatically discarded in the past decade can not be achieved in the current government, but are recognized as the way the world should take if you want the thing better. So says nothing more and nothing less than the Nobel laureate Joseph Stiglitz, who recommends States create Banks and refers to what has been done for illustrating the crisis with the United States, where private banks are not making loans, and hampered the economic recovery, "the bank gave to 700,000 million dollars. If we had spent only a fraction of that amount in the creation of a new bank would have funded all the loans they need. "
Beware of humanistic ideas.
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