economic inequality

5 posts
Want to Fight Poverty? Give Women Financial Equality.

It seems hard to believe, but as recently as the 1970s, it was still legal for U.S. banks to refuse to issue a credit card to a woman because of her gender, and to require a husbands’ permission before married women could get credit or start a business. Keep that context in mind as you consider the following statistics about women’s financial and economic rights and access in the developing...

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Overcharging the Poor: Why Do We Accept Banks’ Pricing Double Standard?

Consider this shopping horror story: You go to the supermarket to buy groceries, selecting your usual items. But when you arrive at the checkout line, the clerk asks for your annual income. Though the question seems rather intrusive, you tell her. As she begins scanning your purchases, you notice that each item has two price tags on it, one white and one red. The white tags reflect the regular prices,...

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An Optimistic Statistic that Could Unlock Greater Happiness for Millions of Americans

The following quotes were taken from a website where people can anonymously share their life experiences. Try to guess which experience they’re describing: “Every time I tell someone … they disappear from view and [I] never hear from them again.” “The one thing that bothers me the most is the lying and covering up I have to do.…I'm too embarrassed to tell my friends - but on the other hand I want...

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The $17 Trillion Stimulus: 3 Key Reasons to Fight Poverty Among Women

The question of how to help the poor is the subject of endless debate. But there’s a topic within the debate that should inspire universal agreement: the importance of reducing the toll of poverty among women and girls. In a world where females comprise the majority of the over 1 billion people living in extreme poverty, and 1 in 3 American women are either poor or living on the brink,...

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Raising the Stakes: Borrowing to Save

If you’ve ever had a hard time sticking to a diet, quitting a bad habit or finishing a project, you might recognize yourself in the scrolling list of user-submitted goals found on People have committed to losing weight, to spending more time with their families, to stop biting their nails, and to finish writing their novels. Ranging from mundane to poignant – and sometimes uncomfortably familiar – these resolutions...

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The Credit Scoring Industry is Ripe for Disruption

Last fall, a few months after leaving his job as chairman of the Federal Reserve, Ben Bernanke tried to refinance his mortgage. In spite of his prior position, a recent seven-figure book deal and the ability to earn a quarter-million dollars for giving a single speech, the bank turned him down for the loan. The amount: less than what he’d earn with three speeches. Bernanke’s experience highlights flaws in a...

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The Perils of Debt

When Americans hear the words “debt crisis,” they tend to think of public debt. With regular headlines and perpetual finger-pointing over which party or politician is responsible for it, America’s national debt is a well-known $18 trillion problem. However some analysts are more disturbed by a parallel debt crisis that often flies under the radar – the country’s spiraling household debt. The statistics are formidable. Americans have well over $11...

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Economic Inequality

Economic inequality is an issue that has global Impact. Those living paycheck to paycheck are typically excluded from formal sector opportunities. They live and work in the informal economy—not by choice, but by necessity. They are both producers and consumers, (more…)

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