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“We Need to Put Public Housing Back on the Agenda” — Shaun Scott interviewed

Summary:
Shaun Scott is a DSA member running for Seattle City Council. We talked to him about his bold platform: building public housing, taxing the rich, and pushing for a municipal Green New Deal. A job guarantee (universal job offer to fit the applicant to the work) is only one piece of the pie to right the ship of the economy. According to the Universal Declaration of Human Rights of the UN General Assembly, all persons have a right to work (article 23), a right to leisure (article 24) and a right to an adequate standard of living, including food, housing and medical care (article 25).  Owing to the structure of the housing industry, it is not considered profitable enough for private firms to  invest in the construction of "affordable housing." There was a public housing project in the US

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Shaun Scott is a DSA member running for Seattle City Council. We talked to him about his bold platform: building public housing, taxing the rich, and pushing for a municipal Green New Deal.
A job guarantee (universal job offer to fit the applicant to the work) is only one piece of the pie to right the ship of the economy. According to the Universal Declaration of Human Rights of the UN General Assembly, all persons have a right to work (article 23), a right to leisure (article 24) and a right to an adequate standard of living, including food, housing and medical care (article 25). 

Owing to the structure of the housing industry, it is not considered profitable enough for private firms to  invest in the construction of "affordable housing." There was a public housing project in the US perviously but it degenerated into people living in substandard "projects." Thus, there is a strong bias against repeating this "boondoggle."

Many have come to think of public works as doomed by inefficiency, poor planning, poor management and corruption. There is precedent for this bias.

This should not be taken as proof that the government can do no good through public works, however. Rather, it shows the challenges that are associated with this opportunity. It is possible to learn from the mistakes of the past and do better the next time — unless one assumes that the government can do no good, which many do. This assumption makes for political resistance. The burden is on advocates of public works to show how this assumption is ill-founded, in this case regarding public housing.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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