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A Social Work Grand Challenge: Reducing Extreme Economic Inequality
Science for Action Kickoff University of Denver October 25, 2018 Dr. Trina R. Shanks University of Michigan School of Social Work
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Overview Extreme Economic Inequality in the United States
A theoretical framework for thinking about economic security and child outcomes Potential Policy Considerations
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A Social Work Grand Challenge: Reducing Extreme Economic Inequality
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Income Inequality Source: Emmanuel Saez, UC Berkeley
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Income Inequality Source: Emmanuel Saez, UC Berkeley
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Income Inequality Source: Congressional Budget Office
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Earnings Inequality Source: Bureau of Labor Statistics
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Source: Institute for Policy Studies and AFL-CIO
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Source: Economic Policy Institute
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Median Income by Race/Ethnicity
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Wealth Inequality Top .1%Wealth Share in the United States, The figure plots the share of total household wealth owned by the richest .1% of families in the United States from 1913 to The unit is the family (either a single person aged 20 or above or a married couple, in both cases with children dependents if any). The top .1% is defined relative to the total number of families in the population. In 2012, the top .1% included about 160,000 families with a net wealth above $20.6 million. Source: Online Appendix Table B1 . From: Wealth Inequality in the United States since 1913: Evidence from Capitalized Income Tax Data * Q J Econ. 2016;131(2): doi: /qje/qjw004 11
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Wealth Inequality
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The Racial Wealth Gap is Not Improving
“The Road to Zero Wealth: How the Racial Wealth Divide is Hollowing out America’s Middle Class” (Prosperity Now and Institute for Policy Studies)
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Economic Inequality and Implications for Children
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Source: ECLS-B, when children were 9-months
Percentages of Children Born in 2001 who Live in Advantaged and Disadvantaged Households by Race Advantaged Disadvantaged Source: ECLS-B, when children were 9-months Taken from: Shanks, T. & Simonton, S. (2011). Diverging Pathways: How Wealth Shapes Opportunity for Children. Oakland, CA: Insight Center for Community Economic Development.
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What better predicts long-term outcomes for children: a developmentally appropriate assessment of ability as a young child or their economic and social advantage?
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Aspects of social and economic advantage
Financial security Secure Family Safe Neighborhood Quality School System
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Shanks, T. R. & Robinson, C. (2013)
Shanks, T.R. & Robinson, C. (2013). Assets, economic opportunity and toxic stress: A framework for understanding child and educational outcomes. Economics of Education Review
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Shanks, T. R. & Robinson, C. (2013)
Shanks, T.R. & Robinson, C. (2013). Assets, economic opportunity and toxic stress: A framework for understanding child and educational outcomes. Economics of Education Review
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Shanks, T. R. & Robinson, C. (2013)
Shanks, T.R. & Robinson, C. (2013). Assets, economic opportunity and toxic stress: A framework for understanding child and educational outcomes. Economics of Education Review
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Key Takeaway While claiming the mantra of ‘land of opportunity’, we have drifted from a collective infrastructure that serves all to segregated spaces with distinct opportunity sets where families and individuals are expected to fend for themselves. Consider: Education, Health Care, Child Care, Housing, Access to Food and Transportation
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Potential Policy Considerations
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Possibilities for Change -- Income
Increased earnings (minimum wage, UBI, child allowances) Make part-time, shift and variable work more stable and humane Expand the Earned Income Tax Credit Expand child care to enable stable employment Expand active employment creation Strengthen unemployment insurance
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Possibilities for Change -- Wealth
Reduce the role of wealth and income in building human capital Stop privileging income from capital over income from labor Re-deploy wealth-building subsidies in retirement Re-deploy wealth-building subsidies for shelter Create a new lifelong policy of inclusive and progressive wealth-building (starting with CDAs)
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You can reach me at trwilli@umich.edu
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Types of Policies and Programs
Individual Level (matching, incentives) Low-Income Households Middle-Income Households Upper-Income Households Collective Level (modeling, infrastructure) Faith-based Institutions Neighborhood Resident Associations Civic Organizations Sororities and Fraternities or HBCUs
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Institutional Continuum
Working Model for a Continuum of Asset-Building Activity Trina Shanks and Stephanie Boddie Institutional Continuum Faith-based Neighborhood Resident Civic Sororities/Fraternities Institutions Associations Organizations HBCUs Community Level Shared Risk Pools for Insurance Housing Co-ops Investment Clubs Micro-enterprise Co-ops Community Development Corporations ( CDC) Limited Liability Corporation (LLC) Venture Capital Partnerships Foundations Household Individual Development Accounts (IDAs) Investing EITC Refunds Homeownership Employer-based Programs (401K, 403B) State College IRAs plans Real Estate Trust Funds Estate Planning Family Endowments Low-Income Middle-Income High-Income Households Households Households Income Continuum
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