Will Bloomberg’s Municipal Technocrats Undermine A Progressive Presidency?
Pointed critiques of Bloomberg’s egregious behavior and the damaging policies he advanced as mayor of New York have filled media feeds for months. Many progressives are heartened by the results of the Nevada primary. Bernie Sanders’s star is rising, and Bloomberg, despite deep pockets and support from centrist insiders, seems less likely to be the Democratic nominee.
Even so, the power Bloomberg holds over national public policy should not be underestimated. It is vital to connect his past activities, ones that were incredibly harmful to the Black community and low-income people, to his current efforts that aim to transform government into an extension of transnational global capital using a combination of innovative municipal finance, data analytics, and smart city infrastructure.
In a recent MSNBC clip, Anand Giridharadas, said his book Winner Take All was written to expose “dance moves” executed by the super rich to distract people from what is actually happening. He noted Bloomberg made a fortune selling data terminals to global finance, whose activities have contributed to the economic misery of many, many people. Anyone who reads my blog knows poverty is THE raw material for pay for success finance. Bloomberg has been in on this market from the ground floor.
Bloomberg Philanthropies acted as guarantor for the first social impact bond in the United States at Riker’s Island. In 2012 he prepared a briefing paper titled “Bringing Social Impact Bonds to New York City.” In 2018, Tracy Palandjian at Social Finance lauded his “What Works Cities” certification program, noting her hopes that participating cities would be CONTINUE READING: Will Bloomberg’s Municipal Technocrats Undermine A Progressive Presidency? – Wrench in the Gears