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Why wealth equality remains out of reach for black Americans

By Darrick Hamilton & Trevon Logan ~ The Conversation ~  Black History Month has become the time to reflect on all the progress black Americans have made, but the sobering reality is that when it comes to wealth – the paramount indicator of economic security – there has been virtually no progress in the last 50 years. Based on data from the Federal Reserve’s Survey of Consumer Finance, the typical black…

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Congress asked top experts for a plan to cut child poverty in half. Here it is.

By Dylan Matthews ~ Vox ~ The most important report on child poverty in years is finally out. In late 2015, Congress agreed as part of a bipartisan funding deal to produce a landmark, $750,000 report on how to cut child poverty in America.  The result of pressure from California Democratic Representatives Barbara Lee and Lucille Roybal-Allard, the provision called for the National Academy of Sciences to convene a group of experts to produce “a nonpartisan,…

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How Economic Inequality Inflicts Real Biological Harm

By Robert M. Sapolsky ~ Scientific American ~ The growing gulf between rich and poor inflicts biological damage on bodies and brains Western cultures have long cherished the notion that all people are created equal. But in the real world, our lives are not balanced with equal opportunities and resources. This distinction was noted mordantly in 1894 by author Anatole France, who wrote that “the law, in its majestic equality,…

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A ‘Fundamentally Inhuman’ Economy: 26 Billionaires Own as Much as World’s 3.8 Billion Poorest People

By Jake Johnson ~ Common Dreams ~ While the wealth of billionaires increased by $900 billion last year, or $2.5 billion a day, latest Oxfam report on inequality shows “this bonanza has not been felt by the poorest half of the world, which saw its wealth decline by 11 percent.” With Wall Street titans, tech moguls, and other members of the global financial and political elite set to gather in Davos, Switzerland…

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A call for a kinder capitalism

By Brett Milano ~ The Harvard Gazette ~  Rep. Kennedy advocates a new economic agenda that addresses the needs of embattled workers Speaking at Harvard Law School, U.S. Rep. Joe Kennedy III (D., Mass.) called Monday for a new national economic agenda based on “moral capitalism” that addresses the needs of embattled workers. In recent months, Kennedy has been pushing for a fresh economic sensibility. Speaking at the John T.…

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Poverty isn’t a lack of character, it’s a lack of cash

By Rutger Bregman ~ TED ~  “Ideas can and do change the world,” says historian Rutger Bregman, sharing his case for a provocative one: guaranteed basic income. Learn more about the idea’s 500-year history and a forgotten modern experiment where it actually worked — and imagine how much energy and talent we would unleash if we got rid of poverty once and for all. Watch @ TED

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Twelve charts that show how policy could reduce inequality—but is making it worse instead

By Economic Policy Institute With the unemployment rate at 4 percent or below for eight consecutive months, 2018 appears to be the year when the economy finally became healthy again. But while low unemployment is good news, it doesn’t tell the whole story of how typical families are faring in the current economy. As the economy normalizes following a long, slow recovery from the Great Recession, we are quickly resuming…

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Capitalist-style wealth gap: 1 tech guy = 1,000,000 teachers

By Paul Buchheit ~ Nation of Change ~ Capitalism is a perfect system for people like this, who care only about making more money than everyone else, and fail to grasp the importance of a healthy, working society. As of 01/20/19, the richest six American tech leaders (Bezos, Gates, Zuckerberg, Ellison, Page, Brin) averaged over $80 billion in net worth. Meanwhile, the 25 million Americans just above the median, many of them teachers,…

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A Dream Deferred: MLK’S Dream of Economic Justice is Far From Reality

By Jessica Pierre ~ Other Words ~ 90 years after King was born, the racial wealth divide is actually growing — which drags down the entire economy. January 15th marked what would’ve been Dr. Martin Luther King’s 90th birthday. Most known for his famous “I Have Dream Speech,” King envisioned a future in which deep racial inequalities — including deep economic inequality — were eradicated. He worked tirelessly towards that mission.…

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Humanity is more important than money — it’s time for capitalism to get an upgrade

By Andrew Yang ~ TED ~ What capitalism prioritizes, the world does more of. So how can we change capitalism so that it focuses on what humans really want and need? Entrepreneur Andrew Yang has a surprising proposal. Think of the activities on the list below: Parenting or caring for loved ones Teaching or nurturing children Creating art, music, dance Working in struggling regions near our hometowns Preserving the environment…

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