The idea for a National Investment Authority, explained (with Saule Omarova)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.8 • 1.5K Ratings

🗓️ 2 March 2021

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tackling existential threats to our future like climate change and economic inequality is a huge undertaking, and building the future is going to require massive public investment. Cornell Law Professor Saule Omarova calls for a National Investment Authority that would work inside private markets as a soup-to-nuts problem-solving operation. Saule Omarova is the Beth and Marc Goldberg Professor of Law at Cornell Law School. She specializes in financial sector regulation, banking law, international finance, and corporate finance. Twitter: @STOmarova Show us some love by leaving a rating or a review! RateThisPodcast.com/pitchforkeconomics Further reading: Public Investment Reimagined: A National Investment Authority - https://prospect.org/economy/public-investment-reimagined-a-national-investment-authority/ Key benefits of a National Investment Authority: https://www.dataforprogress.org/a-national-investment-authority Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Transcript

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0:00.0	It's exciting today to have a guest who's going to preview a big idea for us.
0:06.5	A huge idea called the National Investment Authority.
0:10.9	The NIA is not meant to step in and do the job that either local or state governments
0:16.8	can do or private investors could do or the federal government.
0:20.4	The NIA is meant to become a catalyst for attending to the problems that are in our face right now.
0:30.8	From the home offices of civic ventures in downtown Seattle, this is Pitch Fork Economics,
0:37.7	with Nick Hanauer, the best place to get the truth about who gets what and why.
0:48.6	I'm Nick Hanauer, founder of Civic Ventures.
0:51.6	I'm Jessen Farrell and I'm Senior Vice President at Civic Ventures and a former state
0:56.4	legislator.
1:00.2	So Nick, today we have a very exciting conversation.
1:04.3	We're going to be talking about government entities and how to really improve planning
1:14.2	and building and solving problems that currently aren't being solved by the public or private sector.
1:20.5	We're in a moment that's calling for a similar amount of creativity as the new deal.
1:27.1	Which resulted in the creation of many new government entities that were able to do really
1:32.7	big things. And so it's exciting today to have a guest who's going to preview a big idea for us.
1:38.9	Absolutely. Today we get to talk to Saleh Omarova, who's a professor at Cornell Law School.
1:46.5	And she is going to talk to us about a huge idea called the National Investment Authority,
1:53.5	which would help both identify and execute against the nation's sort of largest and most
2:01.6	strategic economic challenges and opportunities. It should be really, really interesting.
2:07.2	It's a really hard problem, obviously, and a complex challenge. But it needs to be addressed.
2:12.5	And it'll be interesting to hear her talk about how to do that.
	...

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