This report presents an innovative vision for a governance structure that incorporates citizen input through deliberative democracy, utilizing randomly-selected citizen panels. Within this framework, diverse boards take on responsibilities including decision-making, research, oversight, and representation of historically underrepresented groups.
“Democratic Governance Frameworks” sheds light on the vital role of public participation in shaping the governance of a public financial institution. By exploring various contexts, it highlights the urgent necessity for citizen involvement in determining city investment priorities. Part 2 of the Los Angeles public bank series emphasizes the importance of citizen engagement in investment decision-making and explores principles that can be extended to empower citizen participation across the entire economy.
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Public Bank LA is a grassroots initiative working to establish an eco-socially responsible bank in Los Angeles. Our community-led effort aims to redefine banking by prioritizing social impact and environmental sustainability.
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