Letter on economics June 2014

The first section of the Sunday June 1 Providence Journal was filled with economic tales of woe. Wages have Flatilined, falling for many Rhode Islanders. At the same time pay for Corporate CEO’s is at an all time high compared to what everyone who works for them gets paid. And everyone is wondering why we can not get the Rhode Island economy to work well. I would suggest that instead of looking to give more to the 1%, that we focus our public policies on a better distribution of wealth, more ecological healing, food security and climate resilience. Current public policy suggests that real estate speculation is the main policy driver, with an ideological assault on regulation because we confuse building buildings on wetlands with economic development.

The way out of our dilemma is not corporate tax cuts, not the gutting of renewable energy standards, or the easing of water quality protections. The way forward begins with democracy, of reducing the power of money to control public policy, followed by community involvement in development decisions and a much stronger effort to make sure the benefits of brownfield reuse stays in the communities along the rivers rather than leaking to the other side of town.

Greg Gerritt

4 thoughts on “Letter on economics June 2014

  1. While giving a tax cut to trust-fund kids who don’t work for their money, the budget does NOT include the paltry raise that state employees negotiated – but still manages to end with a deficit. My senator, Chris Ottiano, intends to vote Yes on this budget, primarily because it eliminates tolls on the Sakonnet River bridge. His only options are Yes or No on the entire budget, so even if it contains provisions, he has little input.

  2. when George Bush ” the smarter” ran against Ronald Reagan he called trickle down economics voodoo economics. After over 30 years of trying this we are still waiting for the magic that is supposed to happen creating general prosperity. The magic trick instead concealed unprecidented growth of wealth to the top but projo like the leadership at the State House still want a peddle this ruse…what I call “bad thinking.”

  3. Dear Gregg,
    I have a few brains but I understand that what you wrote that we NEED to do we need too do so I hope THEY can understand the drama that is going on ! Thank you for doing the goodness for us!

  4. Thank you for being strong and saying the feelings that I have for me and all Rhode Islanders

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