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John,
Public pension funds are some of the largest pools of public capital in America. Along with their primary responsibility of generating good returns on investment for pensioners, they serve a variety of other goals for the public good, including delivering on ESG (environmental, social and governance) goals, investing in housing and other public services, and leveraging its investments to maintain fair labor standards.
While blue states have significantly more capital, red states have been the most aggressive in using public money to push their political agenda, demanding pension plans divest from corporations that subscribe to ESG principles and undermining the climate commitments of financial institutions. Blue states have begun pushing back on such tactics with help from the Biden administration, but it's not enough. Democrats need to be more proactive about investing pension fund money to pursue social goals.
For our October special issue, Robert Kuttner wrote about how Democrats can use public dollars to advance social standards and a better environment for workers. The right's crusade against woke capitalism is, unintentionally, a wake-up call for progressives to be more creative. Blue states have a higher pool of public capital. They should use it aggressively for the public good.
You can read Robert Kuttner's piece here. [link removed]
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This month, we're releasing a special issue on how state policy has diverged so sharply in red and blue states. Depending on where you live, your life expectancy, quality of life and economic well-being could vary wildly. And states aren't just content to legislate policy that stops at state borders. Far-right activists championing extremist policies in red states want to impose their vision on the entire country, through the courts, corporate collusion and even political violence. This dynamic is best understood as a cold civil war, and it impacts the health and wellbeing of millions of Americans.
Click here to read our special issue on America's cold civil war: [link removed]
COLD CIVIL WAR [link removed]
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Executive Editor, The American Prospect
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