money moves the world and banking moves money welcome to the public bank solution conversations about an emerging new american institution a publicly owned partnership banks able to rebalance the scales of monetary control in service of the public interest and our common wealth brought to you by the public banking institute and its national association of partners  and welcome back to the public bank solution i'm all to create chair meritless of the public banking institute and co director of banking on new jersey the organization that's working to bring about a state bank in new jersey if you joined our previous conversations you know we're talking about a new type of an american institution that's happened happens to be one hundred years old and the irony is that there's only one in the country the bank of north dakota but we are we have high hopes that new jersey might be the next state to have a state owned bank a bank that's owned by the government run with public interest in mind and what it represents in the national  institutions is an opportunity for the people to be served out of banking by having public ownership as opposed to private banks controlling the issuance of credit for the sake of their own profit a public benefit is is an unintended result of the money that they lend but a public bank has an intention and a mission to be able to serve the needs that have not been met by the capital markets by being able to create our own credit by having a public bank so that's the gist of it but when we talk about systemic changing we want to talk about today a little bit deeper about the predicament or the realities that we find ricky garde diamond and she's talking to us today from appeal your vermont because she is the new author of a newly published book called screw nomics this is a brilliant  that too many women know very personally and it's speaks to in later on in the program we'll get to the ways in which the issuance and the control of the issuance of money plays into the existing institutions that we've got wall street banks others corporations they all have certain control parameters and women typically have been on the short end of that stick the pew foundation last year in two thousand and seventeen the research center disclosed that one out of four employed women said that they earned less than men for the same job and only five percent of men said that they earned less than women for doing the same job but here in new jersey women are paid eighty two cents for each dollar a man earns and that wage gap is even greater as you might expect for african american and hispanic women african american women in new jersey are paid fifty eight cents per dollar for white male while hispanic women are paid forty three cents for every dollar paid to white non hispanic men now mothers are also on the short end of that stick they have an even larger pay gap in new jersey mothers who are full time employees are paid only sixty six cents for every dollar paid for fathers so that leads us into this question of screw nomics the economic theory that women should always work for less or better for free let me welcome ricky gard diamon to the public bank solution ricki welcome well  hello it's great to have you with us today to talk a little bit about and a lot about why this difference matters when we look at the economics of our state which is what state bank is about tell us what your inspiration was for this book and and how you're approaching this this topic well i you know is there economics let me let me stop us here ricky because we're getting an echo and i'm sure that's not going to be any good so let's try once again and we'll start with that question  important subject is over seven hundred pages long capital in the twenty first century and it has exactly seven index listings for women or females it's an important is this is something also true in the banking and public banking movement if you will is you know there's a relationship there between who is in control of the money and what it's going for  dirty and you know and and the females the women were supposed to be overseeing the the domestic haven that where the angel of the house took care of the children and then assured everyone ate dinner on time and was happy and well sand and you know protected from that that dog eat dog world out in the in their real world and so we had these two two parallel universes that were supposed to be working as god intended and were in balance but of course it was a reality only and in american ideals you know it was never a reality for a good number of families and a good number of women all that a woman needed to have happened was for her husband to you know get sick and die or disappear or without him she was in economic trouble and not welcomed into that economic world where men  prevailed it's pretty pretty clear and pretty stunning a lot of us assume so much the women have always been it will but it's just not the case and in the in an economic system that's does has been designed and of ideals again like the angel of the house the kind of man is that successful real valiant victor of that money world and he brings home lots of of economic control i mean how do you how do you see that emerging well it's emerging at a really rapid pace we've seen mothers of young children go to work in unprecedented numbers we now have women attending college in greater numbers seen that wage gap that was back when i first heard about the wage gap it was  how does it reflect who we are as people as opposed to just economic beings consumers in a larger society of profiteering and commerce and so forth women have we've always can consider that women have you know a better handle on some of the more basic fundamentals of life and those values as opposed to being willing to march off to war for the sake of dominating some other nation you know are women as they take these new corporate roles which by the way demonstrate that women c e o s are more productive more profitable by and large and not always but by and large is that good is there a danger there that women might nomics every chapter has a focus and some of them quite entertaining they're all rather entertaining you have a lovely humorous style recchi and and of so you organized so i wanted to make it personal so i use a personal pronoun and i talk about my own story my own economic story and other women's economic stories stories are usually not a part of economic  's you know so this this is kind of a crash course with lots of stories lots of definitions because you need to know the vocabulary before you can tell the story of what's going on with  economics and also cartoons are an important part of this i was lucky enough to have a colleague at raima college was a cartoonist and to my surprise was was interested in this subject too so that these subject is really hard to talk about we're not encouraged to even talk to ourselves about it really and so i think the first conversation that we need to have is with ourselves so that we can claim our own economic story which is different than the label by the autonomy or targeted by the marketing end of the economy you know adding your own story makes you who the actor makes you the person who's basically questions to ask yourself and then as you feel you can engage with other people just in the conversation about their story to you i'm looking at this phrase the personal is political the personal is economic yes we were touch on that just a little bit ago when we talked about public banking being driven by a tremendous amount of female energy and as you said before ricky  the difference between the personal and the and the but what the private in the public is a is a is a distinction of how money really has found its own house has found its side of its you know its its ownership  the public banking thing probably a little bit about why you think that has such a resonance for the for the feminine urge or for the for women who are looking to take power and to speak to the interests of the concerns that we see around us well i do think it has something to do with women who are a more inclusive economy that would include both those rounds of the commercial and the and in the out of play of power and now the need for power to be financially brought to brought to bear for things like schools and decent environment and the ability to be able to nurture and support community right think the reason women are in this well is that individual women typically don't own banks and really have little hope of owning a bank except through collective public finance eventually we may get to the place where we will just own a bank right but most when you look at th the world's capital it is so male dominated and the whole environment is not collaborative who operate if it is competitive and constantly competitive one of the things i find myself saying is that our current economy is waged war and what we need to do is begin to wage life and i believe that probably banking and mabel's people to you know look at finance in the real touchable time world around them and think about really hands on solutions which are more human size than this current global economy  that we're whatever is going on and it's all impossible to keep track of because there are so many pieces of it so high up above our heads then and spoken is that insider language that who knows what's really going to have that sense but but but i think public banking is an important counterbalance to that to the i mean i dream of you know a network of at levels so then a few can get richer and richer it's only because the public bank mission is focused on the things that we were referring to about public interest in terms of the real living  vitality nurturing of the of these values that are not just profit based women do have an increasingly important and sensitive role to play so that these things can finally get some some attention certainly at the start of last year there was this huge rally around women's rights and respect for women and and it's a very exciting time for this and i'm delighted that your book brings that into focus for us to to get our women engaged actively in the steps moving forward to change this institution of the institutions of capital that we need for for a life well rick again response to it was just so exciting to see i think i've been most pleased you know most of the shows that i go on that are about the economy are hosted by yes what people you know there's another double up there's a double entendre with a screw nomics not not just about women it pertains to how it works against people we're all kind of getting we're all at the effect of that's because it's who cares nothing about you know and that is a way of controlling people whatever gender or your sexual preference  it and yeah and that's a great way to close ricky thank you very much for your time today again good luck and we will be talking in the future so i'm sure i know thank you thank you rick and you and thank you all for joining us today on the