The Public Banking Revolution
by Ben Hauck
Posted November 3, 2018
Public banking is not a new concept. Countries across the world have used public banking to finance and power their economies for years. Economic powerhouses like Germany continue to feature public banking as a cornerstone of their society. Public banking even exists here in the United States with the nearly 100 year-old Bank of North Dakota, a bank more profitable than Goldman Sachs and with a better credit rating than JPMorgan Chase.
Historically, the public banking movement has expanded significantly during times of financial crisis, including a massive surge in popularity after the economic destruction from the Great Recession. However the idea of public banking is still relatively unknown by the general populace, especially outside of financial and political circles. That is changing. More…