Remaking the Economy: Escaping Corporate Capture

About this Video

• Video Title: Remaking the Economy: Escaping Corporate Capture
• Channel: The Nonprofit Quarterly
• Speakers: Steve Dubb, Kakuno, Hannah Appel, Arlene Martinez, Sarah Michael Bust
• Duration: 01:28:48

Introduction

This webinar discusses corporate capture of the economy and how movement groups can resist it. The discussion features authors from The Nonprofit Quarterly's summer 2024 issue, focusing on building economies of liberation. The panelists explore various aspects of corporate capture, including its impact on pensions, debt, economic development subsidies, and the potential of solidarity economies.

Key Takeaways

• Corporate Capture Defined: Corporate capture is described through real-world examples, illustrating how corporations commodify social initiatives, exploit systems (like pensions), and influence policy for their benefit, often at the expense of communities and workers.
• Pension Fund Leverage: Trillions of dollars in pension funds are often invested in ways detrimental to workers and communities. The potential exists to leverage these funds for investments that benefit workers and the common good, but significant organizing is needed to overcome existing structural and legal barriers.
• Debt as a Tool for Change: The Debt Collective's work demonstrates how debtor's unions can use collective power not only to negotiate better debt contracts but also to advocate for systemic change in areas like education, healthcare, and housing.
• Economic Development Subsidies: Government subsidies for economic development often disproportionately benefit large corporations, exacerbating inequality and harming small businesses and communities. Increased transparency and community benefits agreements are crucial for mitigating these negative impacts.
• Building a Solidarity Economy: A key strategy for escaping corporate capture involves building a solidarity economy through local initiatives, cooperative alliances, and policy changes to create more autonomous production and democratic control over resources.