- Sep 2022
To truly alleviate poverty on a large scale, we must fix a system in which normallife experiences such as childbirth can translate into economic insecurity. Mostof the poor are not unexplainable anomalies in an otherwise well-functioningsociety. Instead, they are the normal consequence of structural arrangementsguaranteed to produce economic insecurity.
This sort of institutionalized economic insecurity seems bound up in institutionalized racism and may have a relationship with recent abortion bans. Can we tease out the ways these ideas are tied together or compounded?
How can alleviating the perceptions of these effects help create societal changes and greater flexibility and more resiliency?
These are potential national security issues were the country to come to war with other major powers.
Consider another example—education. It is true that in most countries, asin the United States, a higher level of educational attainment is typically as-sociated with a lower risk of economic insecurity. But the penalties associatedwith low levels of educational attainment, and the rewards associated with highlevels of attainment, vary significantly by country. Full-time workers without ahigh school degree in Finland, for instance, report the same earnings as thosewith a high school degree. In the United States, however, these workers ex-perience a 24 percent earnings penalty for not completing high school.23 InNorway, a college degree yields only a 20 percent earnings increase over a highschool degree for full-time workers, versus a much higher 68 percent increase inthe United States.24 The percentage of those with a high school degree earningat or below the poverty threshold is more than 4 times higher in the UnitedStates than in Belgium.25
The US penalizes those who don't complete high school to a higher degree than other countries and this can tend to lower our economic resiliency.
American exceptionalism at play?
Another factor at play with respect to https://hypothes.is/a/2uAmuEENEe2KentYKORSww
Indicative of howclose many Americans are to poverty, a recent study by the Federal ReserveBank found that 37 percent of Americans do not have enough savings put asideto protect them from a $400 emergency.20
- Federal Reserve Bank, “Report on the Economic Well-Being of U.S. Households in 2019” (Washington DC: Board of Governors of the Federal Reserve System, 2020).
economic insecurity will strike a majorityof the population but will do so for a relatively short period of time.
- Federal Reserve Bank
- economic well-being
- income inequality
- economic insecurity
- penalizing poverty
- American exceptionalism
- poverty spells
- national security
- unexpected expenses
- childbirth poverty
- high school graduation rates
- Sep 2020
Covid-19 has exposed the reality of Britain: Poverty, insecurity and inequality | Richard Horton. (2020, September 8). The Guardian. http://www.theguardian.com/commentisfree/2020/sep/08/covid-19-britain-poverty-insecurity-inequality-fairer-society
- disproportionate impact
- economic impact
- government response
- Aug 2020
Enriquez, D., & Goldstein, A. (2020). Covid-19’s Socio-Economic Impact on Low-Income Benefit Recipients: Early Evidence from Tracking Surveys [Preprint]. SocArXiv. https://doi.org/10.31235/osf.io/hpqd5
- tracking survey
- low income
- economic crisis
- systematic evidence
- socioeconomic impact
- early evidence
- debt accrual
- Oct 2019