I strongly recommend: How
the Poor Can Save Capitalism a book by John Hope Bryant. The nature of the book means that he could have said: and
vice-versa. At 150 pages it is a
quick read and very interesting.
I believe that the disparity of incomes is a serious and growing
problem. It is inextricably bound up with race, but not entirely a
problem of race. I like what he does in that Bryant accepts both of these
aspects of the problem. As many have noted before, there are more poor whites than blacks in America. A main theme is that if the only role models you
have are sports stars, movie stars and drug dealers, then your prospects are
not very good.
He rejects both: the mantra
that the poor just need to change their culture
and
the theme that the poor only need for the rich to give them more
money.
He notes that the poor do not know how to deal with finance and
how that drags them down from the outset.
He says that the poor need self-confidence, role models, and
opportunity. He proposes private and public initiatives to deal with this -
hitting first on financial literacy as a root cause of the problem. For
more on this see: operation hope
With the support of a number of bankers for his capitalistic approach
(which gives him credibility on the right) and Bill Clinton and Andrew Young (who
give him credibility on the left) he represents an attempt to solve a problem
by reaching across the great divide.
Even the effort is refreshing.
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