Pulitzer Prize-winning author, journalist and Columbia Journalism School professor Dale Maharidge crossed the country to chronicle the lives of today's working poor, from farmworkers in southern California fighting against low wages and a devastating drought, to heroin stricken communities in northern Maine that have been abandoned by industry. His story, “American Ballad: A Photographic Chronicle of America's Working Poor,” marks the 75th anniversary of James Agee’s Let Us Now Praise Famous Men. It was published in the December issue of Smithsonian Magazine...listen here
As cities wrestle with the growing challenge of wealth inequality, more and more leaders are looking to broad-based ownership models as tools to create jobs and build community wealth. These models are highly effective, with a positive impact for low- and moderate-income individuals and communities. This report looks at six such models—ESOPs, Worker Cooperatives, CDFIs, Social Enterprises, Municipal Ownership, and Emerging Hybrids—with examples of best practices, and explores how these models can be used in community economic development.
Although the notion of building wealth through home ownership has taken a beating in recent years due to the Great Recession, ownership more broadly is still seen as a key factor in building wealth. So says the Greenlining Institute. So finds a recent study authored by Thomas Shapiro and colleagues at Brandeis University’s Institute on Assets and Social Policy. Even the Housing and Economic Development Commission of the National Baptist Convention agrees.
Our research director Steve Dubb is joined by REDF's Carla Javits for a conversation around "Big Ideas for Job Creation" at the Aspen Institute, focusing on transforming anchor institution procurement to strengthen local economies and using social enterprise to create employment opportunities.Read more about Creating Jobs by Building Community Wealth...
As real income levels have stagnated and traditional politics remains deadlocked, communities are looking for new avenues to educate and employ themselves, from social enterprises and cooperatives to community development corporations and credit unions. Democracy Collaborative co-founder Gar Alperovitz reviews the impact of these community wealth building organizations as well as the challenges of supporting these organizations and structuring new local and national institutions that foster efficient, effective, stable, and equitable local economies.
Crossposted from Policy Network, and later published on the London School of Economics website, this blog is part of a debate event hosted by Policy Network in London, UK, that was reviewed in OurKingdom by grassroots activist James Doran:
Five years after the financial crisis economic inequality in the United States is spiraling to levels not seen since the Gilded Age. While most Americans are experiencing a recovery-less recovery, the top one per cent of earners last year claimed 19.3 per cent of household income, their largest share since 1928. Moreover, income distribution looks positively egalitarian when compared to wealth ownership.