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In broad terms the Green New Deal (GND) demands that we address first the global; second the differential impact of both historic and current climate change on different nations; and third, that we recognise the vital role of the state. It means wealth transfers to poor countries suffering the consequences of centuries of industrialisation in rich countries, and self-sufficiency in the provision of human needs, goods and services for their citizens. 

what can we, as citizens, do to prevent the restoration of a global financial system governed by volatile markets (the largest of which is the foreign exchange market), dominated by the US dollar and built on government debt? And what might it take to ensure that that system is governed by public, not private interests? 

Right now, the international system is scarcely a matter of public discourse. It is discussed in elite, niche, academic circles, but not sufficiently in trades unions, student groups, religious or community spaces. Instead, our collective focus has been relentlessly on domestic issues. That must change.

Both Corbyn and Sanders offered sound analysis, deep compassion and sincere solidarity to the victims of globalisation and climate breakdown. But they focused on domestic issues – health systems, affordable housing, nationalisation of the railways, kindness to the poor and homeless – and ignored the globalised financial infrastructure that makes reform of these sectors virtually impossible. 

to keep a nation’s monetary system in balance, we need ultimately to raise tax revenues to repay the initial finance – and not remain locked into a trillion-dollar government debt market. 

we cannot generate sufficient tax revenues in a world where money crosses borders more easily than people fleeing conflict. A world which enables Big Pharma and Silicon Valley companies to dodge taxes and lodge profits in tax havens. And we cannot fix health systems – or prevent climate collapse –  if globalised corporations outcompete local producers and manufacturers because the latter enjoy the massive tax breaks. 

As citizens we would not feel so powerless if we understood that the private, globalised financial system depends utterly on public, taxpayer-backed resources. Just look at the current crisis unfolding. Global markets, which we are often told are best left to their own devices, we discover with every crisis, are slavishly dependent on the largesse of publicly backed central banks, and in particular on the Federal Reserve.

Countries that lack a well-developed tax collection system lack the collateral needed for a strong central bank and sound currency. 

as taxpayers, we should set the conditions: that public resources should only be made available on terms that ensure the finance system is transformed into the role of servant, not master of the economy