Building a Modern RFC

Last month, the Roosevelt Institute released a progressive policy blueprint for the coming decade: A True New Deal for the COVID-19 Era.

One of nine major reforms we call for is Building a Modern Reconstruction Finance Corporation — the institution that helped FDR get the nation through the Great Depression and World War II mobilization. The COVID and climate crises will require a new mobilization on this scale. Here’s an excerpt of that section.

For further background on our work on the concept, please see:

• “The Public Role in Economic Transformation: Lessons from World War II,” Roosevelt Institute, March 26, 2020.
• “10 Ways Trump Could Use His Powers for Good, Not Evil,” The Nation, April 20. 2020.
• “What Donald Trump Could Learn from Herbert Hoover,” Politico, April 26, 2020.
• “Why We Need a New Reconstruction Finance Corporation,” Roosevelt Institute, May 8, 2020.