What is a left economy

Economic policy

In the deepest economic crisis in post-war history, millions of people rightly expect the state to influence the economy. The decisive question has long since ceased to be whether the public sector is involved in the economy, but in whose interests, with what goals and at whose costs this happens.

A democracy only works if it can enforce the goals of democratic majorities against economic power. The elected representatives of the people must give the company the goals of economic activity and a clearly defined framework. That is why we advocate a new economic and social order.
As a first step, the financial sector must be placed under democratic control. Savings banks and cooperative banks prove that banks can be placed at the service of society. In the future, all banks should serve the common good. However, anyone who tries to regulate the financial market without stopping and reducing the ever-increasing accumulation of capital and assets is doomed to failure. The expropriation of millions of working people must be reversed. This is not only a requirement of social justice, but also of common economic policy, because only in this way can domestic demand be strengthened.

The subject of economic democracy should be on the agenda. Anyone who gives entrepreneurs and financial funds a free hand prevents democracy. This is exactly what we now experience every day. The social ties of property must also be secured at the company level.
Last but not least, we need a new international economic policy. The fact that speculators determine the flow of trade and capital and trigger severe crises is global madness that cannot be tolerated.

DIE LINKE demands:

  • socialize private banks, subject the financial sector to public control and strictly regulate it: transfer the private banking sector into public hands and, like the savings banks, oblige it to serve the common good; ensure low-interest financing of meaningful investments; Introduce stock exchange sales tax in the financial center of Germany and, if possible, internationally; Reform the international financial system, curb speculation in currencies through fixed but changeable exchange rates.
  • Set up a future program for two million jobs: fight the crisis with investments of 100 billion euros per year in education, health, climate protection, infrastructure and transport; Set up a future fund for a sustainable economy and provide 100 billion euros for the sustainable, socio-ecological development of industrial workplaces, support companies in converting production to processes that are efficient in terms of energy and raw materials, and quality products; Create a million of these public service jobs and 500,000 jobs in a publicly funded, nonprofit employment sector.
  • Making the distribution of income and assets more equitable: significantly higher proportion of wages in national income and fair tax policy, which burdens property income, large inheritances and financial transactions much more than before; Millionaire tax for coping with the burden of the crisis.
  • Democratize the economy: involve workforces in large companies; State aid is only given in exchange for a corresponding share of ownership by the public sector and workforce; Combine nationalization or partial nationalization with democratic control and participation; Prohibition of mass layoffs in companies that are not at risk of bankruptcy; equal participation in all companies with 100 or more employees; Fighting economic crime and corruption resolutely.
  • Expand sustainable agriculture: increase the proportion of organic farming, prevent speculation in agricultural raw materials and soil; Reduce the use of mineral fertilizers and pesticides; Significantly improve animal welfare during husbandry and transport; ensure equal living conditions in villages and small towns.
  • Expand public services instead of privatizing: withdrawing privatizations that have already taken place; Remunicipalise companies providing services of general interest and expand the public sector.
  • Protect small and medium-sized companies more effectively: create better depreciation rules, suspend IHK contributions up to a trade income of 30,000 euros Tighten rules on procurement to and from large companies (small lots); create stricter competition and antitrust law against electricity and gas companies; Facilitate the enforcement of claims by law; Reform patent law with the aim of making inventions easier and faster to exploit, also for small and medium-sized companies.
  • support an economy based on solidarity: promote cooperatives more strongly, provide them with the instruments of labor market policy.