Sunday, January 4, 2009

Governing the Peoples' Equity Union

The Peoples' Equity Union concept is designed to be a grass roots, popular choice "movement". I am organizing with individuals, workers, and shopkeepers in my neighborhood, adjoining neighborhoods, and through the inter-net to whomever I can attract an interest in the concept.

The focus is primarily local, yet global at the same time. It is my dream, not a hope yet, to encourage a critical mass of people to organize locally around a unifying mission, unifying principles, unifying strategies, and unifying tactics in order to minimize the amount of executive administration at the regional and global levels.

The theory is that neighborhood locales, the neighborhood community/worker hybrid association will have maximum autonomy and will be guided only, in their inter-community and inter-economic sector relationships by regional Planning Boards and a Global Policy Committee.

The goal is to be a true economic democracy: of, for, and by the people.


  1. Mike, Great writing and great vision. We are 100% in line with your thinking and are already well along at creating worldwide the sort of system you propose. Would you consider serving on our board and helping create common good banks? No need to invent the new wheel twice; let's invent it together.

  2. Hi William,

    I would be interested to know more about your efforts, your mission, your principles, your strategies, your progress, thus far...



  3. For details about the common good bank project (including a short video), see I would also be happy to talk by phone.

  4. Hi William,

    Thanks for the note. I have been aware of your project for many months, now.

    The Common Good Banks and the Peoples' Equity Union, with neighborhood "branches", regional planning boards, and a worldwide policy committee, have a very similar mission and goals.

    We both seem to want an economic democracy that deals directly with social and environmental injustices.

    First of all, let me point out, that a "Bank" by definition, is owned by investors who expect a profit and make decisions based on that expectation. If the financial institution were owned by depositors, and democratically controlled (at least in theory)then it would be a credit union. We already have plenty of those (I belong to one), but they are irrelevant with respect to issues like equity, sustainability, lack of humanity, lack of social justice, pollution, health care, education, communications, etc.

    Please read my essay, "Reforming Financial Systems" (on this blog), about the problems associated with the use of credit, and with the Capitalist Financial system as a whole. Then read other related essays, "A Double Payer System...", and "Transitioning to an Equity Union".

    I am absolutely convinced that a Socialist Financial system (exactly what the Peoples' Equity Union would be)coupled with an Ecological Economic Planning function can not co-exist with the current Capitalist system of Finance. We must transition, we must all cooperate during the transition, not compete.

    Here's why:

    In Capitalist competition models, we have what Economists call "externalities". Externalities are social and environmental costs which the Capitalists ignore. If they are dealt with at all, they are usually left for Governments to attend to, to clean up, to pay for. Or, they are subject to expensive and usually ineffective regulation policies, programs, and processes.

    Because Capitalist Financial and Business organizations eschew externalities, a Bank for the Common Good, so-called Responsible Invseting Firms, and the like would be at a huge disadvantage, because they absorb (pay for) the costs associated with omitting and/or relieving social and environmental costs. Therefore, although these ideas are great with respect to their intentions, they will be sure to fail.

    The only solution, I see, is a socialist evolution. That is what I am proposing with the Peoples' Equity Union. Please read more (on the blog - the entire blog is relevant)and let me know if you feel comfortable spreading the word. It's is still too early to form a Board of Directors, but I welcome you, your inner circle, and any and all that you have interested in your project, to take a very close look at mine.

    Thanks for writing, and feel free to give me a call at (541) 343-3808, if you care to discuss.

    With much love and care,

    Mike Morin