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Growth is not enough

This op-ed was originally published in Project Syndicate.

Following the steep economic downturns brought about by COVID-19, policymakers should be asking or rethinking fundamental questions. None is more fundamental than whether rapid economic growth is the best way to drive development and help struggling communities escape poverty.

For good reason, economic growth has long been

Poverty Alleviation Resource List

Center on Business and Poverty List of Recommended Articles and Books:

What the Poor Think of the Rich

Proceedings from the Oxford Business Poverty Conference

Why Do the Poor Remain Poor?

Inclusive Growth: Profitable Strategies for Tackling

Following Up On The Link Between Poverty And Mental Illness

It almost goes without saying, sometimes a person’s mental health problems can lead to poverty. And sometimes mental health problems don’t correlate with poverty. But, often, one comes with the other. The World Health Organization has made it fairly clear that the two interact closely (and correcting one might lead to impacting the other for

2020-12-07T06:07:27-06:00

It’s not income that determines charitable giving

The American people are no strangers to the spirit of charitable giving. A phenomenal figure from Charity Navigator shows that as many as 50 percent of American households donated money when the 2010 earthquake devastated Haiti.

This giving accumulated to $1.4 billion. Another example of American goodness was the $1.6 billion donated to victims of the

2020-11-30T04:17:54-06:00Tags: |

Net-zero carbon emissions won’t be sustainable if social inequalities aren’t addressed

With COP26, the UN’s climate change conference, on the horizon next year in Glasgow, all eyes are on securing the decarbonisation of the global economy. What this will mean and how it will be achieved will be hotly debated before, during and after the conference.

Thanks to COVID-19, the world has experienced an extraordinary simulation of

17 U.S. Ballot Initiatives to Reduce Inequality

While the presidential race has dominated the 2020 election, there are many other important decisions facing American voters. Here are 17 proposals on ballots around the country that, if approved, would go a long way towards reducing economic inequality.

Tax increases on the wealthy and corporations

  1. One of the biggest fights over fair taxation is raging

Algorithms Are Making Economic Inequality Worse

The risks of algorithmic discrimination and bias have received much attention and scrutiny, and rightly so. Yet there is another more insidious side-effect of our increasingly AI-powered society — the systematic inequality created by the changing nature of work itself. We fear a future where robots take our jobs, but what happens when a significant

Which aspect of US economic inequality is most worrying?

Inequality has been seizing ever more of the public’s attention in recent years, reflected everywhere from papal encyclicals and economic tomes by French socialists to technical academic debates and the demotic language of politicians and pundits. The health and economic effects of the Covid-19 pandemic have further elevated

How Does Socioeconomic Inequality Affect Social Class, Especially for People of Color?

Socioeconomic inequality is one of the most pressing issues American society is grappling with. How does it play out over generations and how have those inequalities led to discrepancies in wealth, especially for people of color?

This year’s Boston University Diversity and Inclusion (D&I) annual Learn More series focused on an exploration of social class,  featuring

What Digital Banks Can Do To Help Narrow The Racial Wealth Gap

In 2018, two professors and a Ph.D. candidate in economics from the University of Bonn designed a study to investigate long-term income and wealth inequality in the United States. They were specifically interested in how the financial crisis of 2008 had exacerbated existing inequalities and disproportionately affected

At least half of people who have a job fear they’ll lose it in the next 12 months

  • New survey shows more than half of working adults fear for their jobs.
  • But two thirds of workers are optimistic about retraining on the current job.
  • Employment concerns and perceived opportunities to learn new skills vary greatly between countries.

A new Ipsos survey, conducted on behalf of the World Economic Forum,

Economic inequality made the US more vulnerable to the pandemic

The impact of the coronavirus pandemic in the United States and the resulting recession is best understood in the context of what has happened to the U.S. economy over the past 40 years. These four decades marked a period of growing economic inequality and slower growth that left the economy and our workers and

The surprising facts about family finances from 2016–2019

Every three years, the Federal Reserve conducts a survey of consumer finances, collecting information about family income, net worth, balance sheet components, credit use and other financial outcomes. The results of this survey were published in late September with some surprising results.

During the three years covered, real gross domestic product grew at an

It would cost just $330 billion to end global hunger by 2030

In 2019, nearly 690 million people around the world went hungry. The pandemic could make that number grow by another 95 million people. But a series of new reports argues that it’s still possible to meet the U.N.’s Sustainable Development Goal of ending hunger by 2030—and lays out what’s needed to make that happen.

The amount

Coronavirus pandemic plunges millions of Americans into poverty

As Congress remains deadlocked on a new coronavirus economic stimulus package, two new studies show at least 6 million more people in the US are in poverty due to the effects of the Covid-19 pandemic.

study from Columbia University published on Thursday found that the number of Americans in poverty grew by

Pandemics and inequality: A historical overview

There is growing concern about the possible distributive consequences of the ongoing Covid-19 pandemic, which has prompted many to look at past experiences for insights. After all, recent studies of long-term tendencies in wealth and income inequality have underlined the role played by major pandemics (Alfani 2020a, 2020b). Much of this literature has focused mostly

Wealth gap costs over last two decades: $2.7 trillion in Black income, $16 trillion to U.S. economy

America’s persistent racial income and wealth gaps are the result of four intertwined factors: housing, education, business ownership and access to credit. Closing these gaps would facilitate inter-generational wealth creation for Black America and also expand the nation’s economy by $5 trillion over the next five years. These findings come from an extensive report newly-released

Unemployment, Job Losses And Covid: Inequality And Unequal Power

As we stagger into the seventh month of the pandemic, the labor market remains deeply troubled.  But while the coronavirus is hurting working people, especially lower-income workers, it is exacerbating underlying inequalities in the economy, not fundamentally reshaping the job market. Our labor policies need to restore worker power and encourage greater equality, pandemic or no