Data published by the Small Business Administration (SBA) late last year revealed that more than half of PPP funding went to just five percent of recipients. As reported in the New York Times a quarter of the dollars disbursed went to the top one percent despite the $349 billion program’s aim to ease some of the financial burden for the nation’s smallest businesses.
Public policy drives wealth in the United States. Business cooperatives are proven models for lifting up and sustaining marginalized communities during crisis. In our featured slideshow we highlight the economics of cooperatives, the role of public policy in wealth inequality and how shifts in public funding can expand access to collective economies for those who need it most.
The post below has been presented to corporate and community-based leaders with aim of expanding understanding of cooperatives and their role in the global economy.
How does the current economic crisis fit into historic context (i.e. the Great Recession) and what will be the long-lasting economic consequences for everyday citizens. – Brookings Report July 2020
In the USA and overseas, cooperatives have excellent track record of economic resilience and success that should be targeted for public and private funding and procurement opportunities.