The Obama administration aims to lay a sound foundation for growth by investing in high-speed rail, clean energy, information technology, drinking water, and other vital infrastructures. The idea is to partner with the private sector to produce these public goods. An Obama government bank will direct these investments, making project decisions based on the merits of each project, not on politics. This approach has been a cornerstone of US foreign policy for several decades. In fact, our government-led reinvestment in America is modeled explicitly on international public banks and partnerships. However, although this foreign commercial policy is well-established with many successes, it has also been deservedly controversial and divisive. This book describes the international experience, drawing lessons on how the Obama Bank can forge partnerships to promote a durable twenty-first-century New Deal.
• This is the first book to look at Obama's economic philosophy and overall plans for reinvesting in the real economy • Draws lessons from US foreign affairs
1. Introduction; 2. The Janesville plan; 3. A bank of our own; 4. Leverage; 5. Free market statism; 6. A new foundation; 7. P3s and foreign affairs; 8. Companies as policy organs; 9. Transparency; 10. Contracts; 11. Emancipation; 12. Renegotiations; 13. Recommendations.