April 13, 2011

Can the Working Class Save the Middle Class?

There's an excellent interview with Umair Haque on the GOOD blog. In it he wonders why so many people are protesting against cuts rather than attacking the institutions that caused the problem in the first place, the banks? He argues that a better response than marches and protests would be grassroots organised economic action. I think he's right

The UK Uncut movement et al have shown that they can mobilise lots of people and generate lots of action. What if instead of occupying shops and going on marches, they persuaded people to move their bank accounts elsewhere? Would that succeed where Government is failing, at curbing bank bonuses and making credit more available for businesses that need it?

What if people banked with a local credit union or building society?

What if, indeed.

Why aren't the local credit unions (e.g. Partners Credit Union who are for anyone in Merseyside) working out how to persuade me to move my account across? Surely having lots more people using a local, non-profit savings/loan institution would be a good thing, and widening the customer-base to include conscientious objecting middle-classes would improve the image of credit unions from the reputable lender of last resort?

And what if we mixed in the technical chops of groups like One Click Orgs and the open-source movement? Just think how awesome and secure a way of banking that would be...


Posted by Adrian at April 13, 2011 09:01 PM | TrackBack

This blog post is on the personal blog of Adrian McEwen. If you want to explore the site a bit further, it might be worth having a look at the most recent entries or look through the archives or categories over on the left.

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