Joy’s article ‘Investing in Radical Change: The Future of Canadian Public Banks’ has been published in Studies in Political Economy.
Understood as dynamic entities shaped by contending social forces, Ms. Schnittker suggests that public banks hold the potential to meet broader human and social goals in ways that private financial institutions do not. By demonstrating the historic dynamism of Canadian public banks in three core political economic eras (defensive expansionism, Keynesianism and neoliberalism), her paper argues that they can be reshaped by a new configuration of progressive social forces to enable radical change and offer a credible and practical solution to the multiple crises we face. She concludes that a rejuvenated public sector is needed to institute massive and targeted funding, and the role of public banks should be a central component as alternatives to neoliberal financial capitalism are devised.