This is the link to the Grand Challenge – Reversing Extreme Economic Inequality
We need to identify a new social contract with social innovations that increase income at bottom of society
We need to improve strategies for social and economic development, as we address injustice and reform policy
-Increase earning from low-skilled jobs (raise minimum wage)
-Make part-time, shift, and variable work more humane
-Expand the EITC (Earned Income Tax Credit)
-Expand active employment creation
-Strengthen unemployment insurance
-Stop privileging income from capital over income from labor in the tax system
-Redeploy wealth-building subsidies in retirement
-Redeploy wealth-building subsidies for shelter
-Create a new lifelong policy of inclusive and progressive wealth building
-Reduce the role of income and wealth in building human capital
Key Issue:
-Misguided public policies have fostered inequality. Partial remedies lies in design and implementation of more positive policies
-Will require advances in policy design and changes in public will.
-There is a need to craft and execute political changes within legislative system that is too often beholden to interests of the wealthy