The Personal Financial Wellness Scale™

Poverty is most often assessed using objective measures such as absolute and relative income levels. However, different individuals may experience different levels of financial stress at the same income level. Studies have found that the perception of income is only moderately correlated with actual income level and that it is the perception itself that relates

Growth is not enough

This op-ed was originally published in Project Syndicate.

Following the steep economic downturns brought about by COVID-19, policymakers should be asking or rethinking fundamental questions. None is more fundamental than whether rapid economic growth is the best way to drive development and help struggling communities escape poverty.

For good reason, economic growth has long been

It’s not income that determines charitable giving

The American people are no strangers to the spirit of charitable giving. A phenomenal figure from Charity Navigator shows that as many as 50 percent of American households donated money when the 2010 earthquake devastated Haiti.

This giving accumulated to $1.4 billion. Another example of American goodness was the $1.6 billion donated to victims of the

2020-11-30T04:17:54-06:00Tags: |

What the Poor Think of the Rich

The core of the American Dream — equality of opportunity and rewards commensurate with efforts and abilities — has enchanted millions of people across the globe. However, it is important to assess whether the reality bears out that ideal. Although two-thirds of Americans (69 percent) agree with the statement that “people are rewarded for intelligence

2020-09-17T08:44:42-05:00Tags: |

Inequality, poverty, and injustice; a problem of too much and not enough

Inequality occurs when there is a disproportionate distribution of resources, wealth, or legal status in a society.  When our access to resources or wealth are insufficient to meet our needs we enter a state called poverty, a lack of material wealth.  Without wealth we also lack access to justice because we can’t afford to hire

Ways to Address Poverty and Inequality Through Business: Your Comments Summary

In a recent column, I asked readers to write in with ideas about how full employment would influence the debate about inequality in the U.S. Since the column was published, eradicating poverty and trying to address inequality have been even more ever present in the spotlight as issues to be addressed in meaningful ways. Many

2020-11-11T05:04:04-06:00Tags: |

Could we eradicate poverty?

Those answering this question seem to have become more and more optimistic over the past several decades. Major advances in technology, education, healthcare and business practices have led to reduced poverty rates around the world. Although victory is still a long way off, it seems that we have a fighting chance in the battle against poverty.


2020-11-11T05:27:49-06:00Tags: |

Financial literacy combats poverty

Across the United States, it is not uncommon to see billboards and advertisements for a local lottery. These are often joined by other joint lotteries, some of which cover several states. While the variety is seemingly endless, all the ads and sponsorships of the games share one trait: a warning. Often found in the fine

2020-08-17T16:02:50-05:00Tags: |

Poverty is the virus that puts us at COVID-19 risk

Throughout American history public crises have exposed issues too long ignored in our common life. World War II, in which African-Americans from the South fought for democracy abroad, exposed the need to make democracy real at home. When the federal levees broke in New Orleans during Hurricane Katrina, the storm revealed a gross inequality that

Tackling Senior Poverty

Irene Morey begins each day with tai chi — arms flowing while gentle acoustic music plays from her television. Morey celebrated her 104th birthday with friends Saturday.

“I have good genes. My great grandmother was 105. My sister turned 102 last week,” Morey said. “And that’s that’s a gift.”

Morey knows many seniors aren’t as fortunate as

2020-03-05T17:59:55-06:00Tags: |

Philadelphia plans “moonshot” to address poverty in the city

Philadelphia City Council is rolling out a plan it’s calling its “moonshot” to address poverty in the city.

“We made the decision to go to the moon, today we’re making the decision to solve this very troublesome problem,” said Council President Darrell Clarke.

Currently, one in four Philadelphians, about 400,000 people, live below the poverty line, making

2020-03-04T06:41:43-06:00Tags: |

Fighting the Diseases of Want and Plenty

“Diseases of want” arise from poverty, while “diseases of plenty” are associated with affluence. Many of the illnesses in each category are avoidable, but stopping them will require a revolutionary change in our approach to medicine.

Diseases of want are avoidable because poverty is avoidable. We have the technical expertise to eliminate

Fighting Poverty Project by Project: Toward a Nobel Prize

The 2019 Nobel Prize in Economics was awarded to Esther Duflo, Abhijit Banerjee, and Michael Kremer for their “experimental approach to alleviating global poverty”. This is an important turn of events partly because of the enormity of the problem that they and others are trying to address. In 2019, there are still more than 550

2020-10-26T14:07:18-05:00Tags: |

52 ideas that changed the world – 9. Fairtrade

Fairtrade in 60 seconds

Fairtrade is a movement based on the principle that farmers and workers in poorer countries deserve fair prices for their produce and labour. It champions decent working conditions in the developing world, and long-term sustainability both for communities and the environment.

The largest group in the movement is Fairtrade International, which owns the

2019-08-12T03:29:43-05:00Tags: |

Cocoa farm workers aren’t reaping the benefits

Long before it hits supermarket shelves, cocoa passes through dozens, if not hundreds, of hands—many of which belong to the laborers that harvest and hack the beans from their large, leathery pods.

For years, members of the cocoa industry in Côte d’Ivoire (Ivory Coast)—the world’s leading producer of this product—have been partnering with Fairtrade International, a

2019-07-02T07:51:47-05:00Tags: |
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