Washington, DC — Today in the United States, the credit card market is measured on a scale of billions. The amount of debt owed on credit cards in 2005 was $800 billion; $30 billion is how much lenders profit each year. Under the guise of "democratization" the federal government has deregulated the industry over the past 30 years, eliminating caps on interest rates and penalties. Those who can least afford it are paying the price.
In this groundbreaking report, Columbia University professor Mark Gordon grapples with one of the most important questions facing American democracy: What exactly is globalization and how is it affecting the ability of Americans to govern themselves through traditional civic processes? By focusing on the States and federalism, Professor Gordon looks at the area where our democratic processes are now most in flux as a result of globalization.
On June 22 and 23, 2000, Demos convened a national workshop in New York City on “Democracy and the New Federalism”. The workshop was comprised of a diverse group of elected officials, community organizers, researchers, and policy analysts.
In this report, we summarize and reflect on the insights that emerged during the workshop. We hope it will be useful to a wide range of people engaged in efforts to strengthen American democracy.