Equity: The Superior Growth Model
The nation’s economic model is broken and the problem is not just the recent downturn, as pressing and important as that may seem. Over several decades now, economic growth has slowed, racial and income inequality has spiked, and the middle class has withered. The United States needs a new strategy to bring about robust growth that is widely shared by all who live here.
The nation is undergoing a major demographic transformation, in which racial and ethnic groups excluded in the past are becoming a larger portion of the population. The new growth model must embrace these new demographics and make the necessary investment for the next generation to reach its full potential.
By 2042, a majority of the population will be people of color, which is the reason for the growing racial gap between America’s oldest and youngest—whites make up 80 percent of seniors but only 54 percent of those under 18. Too many elders and decision-makers do not see themselves reflected in the next generation and they are not investing in the same educational systems and community infrastructures that enabled their own success. The racial generation gap not only puts youth of color at risk, it threatens the wellbeing of all children and the nation as a whole.