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How The United States Has Criminalized Poverty And How To Change That Now

Over the past several weeks and months, I’ve been thinking and talking a lot about the intersection of social justice issues and financial issues. They go hand in hand. One always influences the other. And that’s because without access to money and other resources, there aren’t many options. That applies whether you’re talking about housing,

Many around the world were pessimistic about inequality even before pandemic

The coronavirus outbreak stopped much of the world in its tracks in early 2020 and continues to cast doubt on the well-being of households and communities around the globe. But even before the pandemic, many people around the world felt pessimistic about income inequality, governance and job opportunities, according to a survey conducted by Pew Research Center

What’s Behind the Rising Inequality of Everything?

However you parse the data, capitalism increasingly appears to disproportionately benefit the very top performers. Jeff Bezos, the CEO of the company millions depended on for deliveries during coronavirus lockdown, is reportedly set to become the world’s first trillionaire. As forecast by business platform Comparisun, his unique status isn’t due to the current crisis. It is based on

The Basic Facts About Women in Poverty

In the United States, more women than men live in poverty. According to U.S. Census Bureau data, of the 38.1 million people living in poverty in 2019, 56 percent—or 21.4 million—were women.1 The coronavirus pandemic has put individuals and families at an increased risk of falling into poverty in the United States, as they face greater

Growing Wage Inequality Is Caused by Growing Skill Inequality

In recent years, the gap between the highest and lowest income brackets has become an area of growing concern for economists and policymakers, not to mention the low-wage workers who have been left behind. In late 2013, President Obama said that inequality was the defining issue of our time. Growing inequality, however, is neither a new phenomenon

Life and Death in Our Hot Future Will Be Shaped by Today’s Income Inequality

It’s one of the scariest questions facing billions of humans on a hotter planet: How many of us will die from extreme heat in the decades ahead? Your future risk of dying from heat will be determined more than anything else by where you live and the local consequences of today’s economic inequality. That’s the

How U.S. Poverty Could Spike in the Last Half of the Year

Millions more Americans will be thrown into poverty if Congress fails to enact three policies meant to help families get through economic hardships related to the pandemic, according to a new study by the Urban Institute. The report finds that the poverty rate for the last five months of 2020 will rise to 11.9% if expanded unemployment-insurance benefits,

The great reset must place social justice at its centre

Wealth needs to be more broadly redistributed. Governments will need to intervene more to ensure better and fairer outcomes from private sector investments. New institutions need to incorporate profound reforms to ensure better racial integration. Capitalism as we know it needs to be reformed. The growing discontent at the ideology that has created so much

New Research Shows Covid-19’s Impact On Gender Inequality And Mothers’ Mental Health

As the epicenter of Covid-19 continues to drift around the globe, leaving death and depression in its wake, it’s become increasingly difficult for even the most naive to defend a whimsical assertion favored by the privileged in the early days of the pandemic. Coronavirus is not a great leveller. It never was. Data made available to The

Pandemic underscores inequality

Analysts and investors like to use letters to describe the condition of the U.S. economy and markets. V-Shaped, which is a sudden drop followed by a surge; W, the ultimate fake out, where output sinks, rises and then falls again; U, where after a sudden shock, the economy meanders and then starts to rise; and

A cap on income might seem radical — but it was once a mainstream idea in American politics

Five months after the attack on Pearl Harbor, President Franklin Roosevelt delivered a radio address that has unfortunately faded into obscurity. Embedded within that 1942 speech, Roosevelt laid the ideological foundations for establishing a cap on the annual income that the wealthiest Americans should be allowed to earn, and which structurally comes at the expense of everyone

The stark reality of health and wealth racial inequality in the US

Economic inequality in America makes for stark reading with white families having a net worth ten times more than the average Black family. These are the findings of the latest Top of the Mind report by Goldman Sachs (GS) which addresses Investing in Racial Economic Equality. The wealth gap is being driven by the ability

‘Oil on the inequality fire’: How slashing jobless aid could widen the wealth gap

How Congress decides to help the tens of millions of unemployed workers during the pandemic could determine whether the stark gap between America’s rich and poor will continue to widen amid a crisis that has already hit the lowest earners the hardest. Economic downturns historically have been more damaging for the poor. But in the

The rich in the US are adding more years to their life than the poor

Life expectancy got much higher for most everyone in rich countries over the last several decades. But in the US, the rich are adding years to their life faster than the poor—and probably faster than the rich in other countries. For example, take a look at the differences between the US and Denmark. A new study looking

The COVID-19 gender gap

The COVID-19 pandemic threatens to roll back gains in women’s economic opportunities, widening gender gaps that persist despite 30 years of progress. Well-designed policies to foster recovery can mitigate the negative effects of the crisis on women and prevent further setbacks for gender equality. What is good for women is ultimately good for addressing income

Fixing America’s racial economic divide could add $400 billion to US GDP

The social arguments for erasing the racial economic divide are clear. Systems and institutions have been stacked against Black people and others who are not white and the initial conditions of slavery and segregation and other racist policies still exert forces on the finances of many Americans. According to a lengthy note from Goldman Sachs

Covid-19 has revealed a pre-existing pandemic of poverty that benefits the rich

Poverty is suddenly all over the front page. As coronavirus ravages the globe, its wholly disproportionate impact on poor people and marginalised communities is inescapable. Hundreds of millions of people are being pushed into poverty and unemployment, with woeful support in most places, alongside a huge expansion in hunger, homelessness, and dangerous work. How could the poverty narrative

‘Inequality defines our time’

Mr. Guterres was delivering the 2020 Nelson Mandela Annual Lecture, held online for the first time, in light of the ongoing COVID-19 pandemic. The lecture series, held annually by the Nelson Mandela Foundation, on the birthday of the first democratically-elected President of South Africa, aims to encourage dialogue by inviting prominent personalities to discuss major international challenges.

Teleworking is widening the income gap around the world

Teleworking is widening income inequality all over the world, according to a new study from the International Monetary Fund. The ability to work remotely has become a make-or-break factor for many workers during the coronavirus pandemic. Unless their jobs are deemed essential, people who can’t telework face a much higher possibility of cutbacks in hours or pay,

Exclusive communities deepen inequality in every metro area

Economic opportunity is not distributed equally across places. The COVID-19 pandemic and recent protests for racial justice have drawn attention to the stark gaps between Black and white communities in health, life expectancy, job quality, homeownership, and wealth, among many metrics of well-being. A growing body of evidence demonstrates that where children grow up profoundly impacts their lifetime outcomes. For most of