The 400 richest American billionaires have more total wealth than all 10 million Black American households combined. There is a vital and vibrant conversation in America today about reparations programs and other expenditure-based approaches to close the racial wealth gap. These investments are a moral imperative and an urgent economic necessity.
Diversity wins is the third report in a McKinsey series investigating the business case for diversity, following Why diversity matters (2015) and Delivering through diversity (2018). We took a close look at our data set’s more diverse companies, which as we have seen are more likely to outperform financially.
This report contains the main findings from the research that comprises the 2018 Prosperity Now Scorecard. It is a departure from the tone and format of our past Scorecard reports, but a necessary departure if we are to make a meaningful contribution to current national and state policy discussions.
The COVID-19 pandemic has wreaked havoc across the globe. It has upended the lives of hundreds of millions of people, decimated economies, and brought the hustle and bustle of daily life to a standstill. While much of the U.S. focus has been on the erratic stock market, steep business losses, stay-at-home orders, and the scope and pace of legislative and administration responses, too little attention has been paid to the daily impacts on communities and the needs of families across the country. Women of color, in particular, play a vital role in maintaining the economic stability of their families and communities—and therefore, understanding COVID-19’s impact on this group is critical to overcoming the current crisis. Yet the public discourse about the most-needed interventions has largely overlooked the pandemic’s cascading effects on women of color, leaving them out of policy debates on what actions must be taken moving forward to sustain families while reinvigorating the economy.
By Jocelyn Frye April 23, 2020
https://www.americanprogress.org/issues/women/reports/2020/04/23/483846/frontlines-work-home/
Dreams Deferred presents a snapshot of the racial wealth divide in the United States today, looking at the current state of household wealth, income, homeownership, debt, and other economic factors. It also reviews long-term trends that led to this current moment, as well as, the historical policies and contributors to this deepening divide.
A new research report out today from the Center for Effective Philanthropy (CEP), titled Nonprofit Diversity Efforts: Current Practices and the Role of Foundations, shares nonprofit leaders’ views on their diversity pursuits — and how their foundation funders are interacting with or supporting them in this area.
A new report from the World Bank Group shows that inequality is gendered — and the global economy is losing out on $160 trillion by allowing the gender wealth gap to persist.
Yes, women today earn less than men, but according to a recent SoFi study, they’re also investing their earnings less—which means they’re missing out on the opportunity to grow their wealth on a much larger scale.
In this opinion piece, Damon Young (@DamonYoungVSB), founder and editor in chief of the online magazine/blog/website Very Smart Brothas talks about going from struggling blogger to successful writer and the anxiety about still feeling broke.
Through a six-month process of deep learning convened by the Boston Fed and facilitated by external consultant Cynthia Silva Parker, senior associate at the Interaction Institute for Social Change, the working group studied the root causes of racial wealth inequalities, prioritized possible solutions, and created a shared agenda.
This report by Equity in the Center and ProInspire identifies the personal beliefs and behaviors, cultural characteristics, operational tactics, and practices that accelerate measurable progress toward race equity. It offers a roadmap for making racial equity a core focus for organizations working for positive social change.
