Robert C. Hockett is Edward Cornell Professor of Law and Finance at Cornell University; a Visiting Professor of Finance at Georgetown University’s McDonough School of Business; and Senior Counsel at Westwood Capital, LLC. He is a regular advisor and legislative draftsman for Senators Bernie Sanders, Elizabeth Warren, and Marco Rubio, as well as for Representatives Alexandria Ocasio-Cortez and Ro Khanna. Previously, he worked for the Federal Reserve Bank of New York and the International Monetary Fund, and clerked for the Chief Judge of the US Court of Appeals for the 10th Circuit.

“A remarkable intellectual achievement. This major work spans numerous fields and will be read across several disciplinary boundaries.” Alan Thomas, University of York “A high-quality work. This book is original in argument and manages to combine several threads of economic discourse, which are currently behaving conflictually towards each other, into an integrated and coherent argument for a properly reformed monetary system.”Steve Keen, author of The New Economics: A Manifesto “Making Capital Democratic is a fascinating and innovative book by a brilliant professor of finance who argues that capitalism can be made more democratic by making the Fed more democratic, i.e., by making the Fed’s loans more accessible to communities and local banks (rather than large financial institutions), with the aim of fostering local productive investment and economic development, with guidance from a democratically determined national development bank.” Fred Moseley, Emeritus Professor of Economics, Mount Holyoke College“Hockett deftly uses accessible analogies to demystify the public and private elements of capital. He builds the concepts of money, capital, investment, and credit from the ground up, allowing him to highlight their deep ties to the polity. With this public aspect of capital in view, Hockett argues it is time to rethink how capital can be harnessed for public ends. A fascinating argument that weaves together philosophy and economics to challenge accepted thinking.” Cherie Metcalf, Queen’s University, Canada“A remarkable intellectual achievement. This major work spans numerous fields and will be read across several disciplinary boundaries.” Alan Thomas, University of York“A high-quality work. This book is original in argument and manages to combine several threads of economic discourse, which are currently behaving conflictually towards each other, into an integrated and coherent argument for a properly reformed monetary system.” Steve Keen, author of The New Economics: A Manifesto “Making Capital Democratic is a fascinating and innovative book by a brilliant professor of finance who argues that capitalism can be made more democratic by making the Fed more democratic, i.e., by making the Fed’s loans more accessible to communities and local banks (rather than large financial institutions), with the aim of fostering local productive investment and economic development, with guidance from a democratically determined national development bank.” Fred Moseley, Emeritus Professor of Economics, Mount Holyoke College “Hockett deftly uses accessible analogies to demystify the public and private elements of capital. He builds the concepts of money, capital, investment, and credit from the ground up, allowing him to highlight their deep ties to the polity. With this public aspect of capital in view, Hockett argues it is time to rethink how capital can be harnessed for public ends. A fascinating argument that weaves together philosophy and economics to challenge accepted thinking.” Cherie Metcalf, Queen’s University, Canada

• AcknowledgmentsList of Figures Introduction: One Conflation, Two Separations1 Our Polity2 Our Money3 Our Finance4 Our Capital 5 Our Capital CommonsConclusion: Our Republic, Our Capital, Our Productive Selves: Our Joint & Several ‘We’s Recovered NotesIndex

Robert C. Hockett is Edward Cornell Professor of Law and Finance at Cornell University; a Visiting Professor of Finance at Georgetown University’s McDonough School of Business; and Senior Counsel at Westwood Capital, LLC. He is a regular advisor and legislative draftsman for Senators Bernie Sanders, Elizabeth Warren, and Marco Rubio, as well as for Representatives Alexandria Ocasio-Cortez and Ro Khanna. Previously, he worked for the Federal Reserve Bank of New York and the International Monetary Fund, and clerked for the Chief Judge of the US Court of Appeals for the 10th Circuit.

“A remarkable intellectual achievement. This major work spans numerous fields and will be read across several disciplinary boundaries.” Alan Thomas, University of York “A high-quality work. This book is original in argument and manages to combine several threads of economic discourse, which are currently behaving conflictually towards each other, into an integrated and coherent argument for a properly reformed monetary system.”Steve Keen, author of The New Economics: A Manifesto “Making Capital Democratic is a fascinating and innovative book by a brilliant professor of finance who argues that capitalism can be made more democratic by making the Fed more democratic, i.e., by making the Fed’s loans more accessible to communities and local banks (rather than large financial institutions), with the aim of fostering local productive investment and economic development, with guidance from a democratically determined national development bank.” Fred Moseley, Emeritus Professor of Economics, Mount Holyoke College“Hockett deftly uses accessible analogies to demystify the public and private elements of capital. He builds the concepts of money, capital, investment, and credit from the ground up, allowing him to highlight their deep ties to the polity. With this public aspect of capital in view, Hockett argues it is time to rethink how capital can be harnessed for public ends. A fascinating argument that weaves together philosophy and economics to challenge accepted thinking.” Cherie Metcalf, Queen’s University, Canada“A remarkable intellectual achievement. This major work spans numerous fields and will be read across several disciplinary boundaries.” Alan Thomas, University of York“A high-quality work. This book is original in argument and manages to combine several threads of economic discourse, which are currently behaving conflictually towards each other, into an integrated and coherent argument for a properly reformed monetary system.” Steve Keen, author of The New Economics: A Manifesto “Making Capital Democratic is a fascinating and innovative book by a brilliant professor of finance who argues that capitalism can be made more democratic by making the Fed more democratic, i.e., by making the Fed’s loans more accessible to communities and local banks (rather than large financial institutions), with the aim of fostering local productive investment and economic development, with guidance from a democratically determined national development bank.” Fred Moseley, Emeritus Professor of Economics, Mount Holyoke College “Hockett deftly uses accessible analogies to demystify the public and private elements of capital. He builds the concepts of money, capital, investment, and credit from the ground up, allowing him to highlight their deep ties to the polity. With this public aspect of capital in view, Hockett argues it is time to rethink how capital can be harnessed for public ends. A fascinating argument that weaves together philosophy and economics to challenge accepted thinking.” Cherie Metcalf, Queen’s University, Canada

• AcknowledgmentsList of Figures Introduction: One Conflation, Two Separations1 Our Polity2 Our Money3 Our Finance4 Our Capital 5 Our Capital CommonsConclusion: Our Republic, Our Capital, Our Productive Selves: Our Joint & Several ‘We’s Recovered NotesIndex