Portrait of the United States as a Developing Country from Boston Review. Dispelling myths of entrepreneurial exceptionalism, a sweeping new history of U.S. capitalism finds that economic gains have always been driven by the state.
LISC elects Karen Fang, Bank of America Head of Global Sustainable Finance, to national board
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NEW YORK, Feb. 16, 2021 /PRNewswire/ The Local Initiatives Support Corporation (LISC) has named a national leader in sustainable finance and environmental, social and governance investing to its board of directors to help guide its work in affordable housing, economic development, health, education, safety and jobs across the country.
Karen Fang, head of global sustainable finance at Bank of America, oversees the bank s business activities, including financing, advisory and distribution, in social and environmental progress globally. She joins a 27-member LISC board chaired by former Treasury Secretary Robert Rubin and includes leaders from the fields of finance, community development, academia, health and philanthropy.
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(webking/Getty Images) As Congress debates Biden s rescue plan, it should not ignore the risks of rising budget deficits.
As Congress considers whether to pursue the first $1.9 trillion phase of the President’s economic “rescue and recovery” plan this week, our country, and the dynamic economy that fuels its growth, is at a critical crossroads. While the public health dimensions are paramount, the central issue now confronting the Biden Administration and Congress is the size, contours, and funding of an additional economic relief package. On January 14, then-President-elect Joe Biden looked into the television cameras and declared that the U.S. could afford his rescue and recovery plans (phase 1 “rescue” will cost $1.9 trillion) because “with interest rates so low, we cannot afford inaction.” Biden buttressed his position by claiming that a “growing number of top economists have shown, even our debt situation will be more
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One heartening fact about Joe Biden is that he’s the first Democratic president in nearly 40 years who is not employing the services of Larry Summers, one of the most influential neoliberal economists of the last few decades. Summers has been a perennial power player ever since he served on the Council of Economic Advisers under Ronald Reagan from 1982–83. His Reaganite roots didn’t stop him from being repeatedly elevated to commanding positions of authority under the administrations of Bill Clinton and Barack Obama. He was secretary of the treasury from 1999–2001 and director of the National Economic Council from 2009–10.
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