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/
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.
