NYT, Room for Debate – “In Banking, Should There Be a ‘Public Option’?”

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The New York Times “Room for Debate” section just hosted a debate called ”In Banking, Should There Be a ‘Public Option’?” My oped is here —

We actually need publicly owned banks for a capitalist market economy to run properly. Banking, money and credit are not market goods but are economic infrastructure, just as roads and bridges are physical infrastructure. By providing inexpensive, accessible financing to the free enterprise sector of the economy, public banks make commerce more vital and stable. Public banking is not a radical idea but has been practiced in the U.S. with excellent results for decades, and around the world for centuries.

Read more here.