Massive amounts of money are needed to address the multiple social and ecological crises besetting societies around the globe. According to Thomas Marois, the lion’s share of that financing will need to come from public banks. But many public banking institutions, he argues, must be democratized and definancialized.

Gregory Albo and Stephen Maher, eds. Socialist Register 2025: Openings and Closures: Socialist Strategy at a Crossroads Monthly Review Press, 2025

The Public Banking Project at McMaster University

Thomas Marois, Public Banks: Decarbonisation, Definancialisation, and Democratisation Cambridge University Press, 2021

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