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Giving Compass' Take:
• From universal basic income to mass debt forgiveness, Fast Company has some ideas to make the economy work for more people that might go mainstream.
• What roles might philanthropists play in some of these initiatives? Which public-private collaborations would help bring more equity into the workforce?
• Read about how to make a fair economy with what we already have.
In America, unless you are already wealthy, the chances of you getting rich — or even just earning enough to live securely — are slim. This year, the nonprofit think tank Economic Policy Institute found that CEO pay grew by over 17% last year, while regular worker salaries grew .3% (or, adjusted for inflation, not at all). Meanwhile, even for people with jobs, necessities like housing, healthcare, childcare, and retirement are becoming more expensive to access.
It doesn’t have to be this way: Policymakers, activists, nonprofit leaders, and researchers have simple ideas that would help working people live more comfortably. Some feel revolutionary, some are on the cusp of adoption, but all are worth considering as we try to rebuild an economy where the stock market has soared and unemployment plummeted, while people still can’t save enough to afford to pay for a medical emergency. Here are just a few concepts that could change that in the coming year and beyond.
- Give a Basic Income to People In Need
- Help the Environment and the Economy
- Take a Equitable Approach to Benefits
- Make Housing Affordable to All
- Close the Salary Gap Between Executives and Workers
- Cancel the Debts
- Tax Financial Transactions
Read the full article about 7 bold solutions for an inclusive economy by Eillie Anzilotti at Fast Company.