COVID19, Coronavirus, Racial Wealth Gap

Building on an idea developed and long championed by economists Darrick Hamilton and William “Sandy” Darity Jr., as well as 15 years of practice and research around children’s savings programs, A Birthright to Capital outlines the case for why the United States government should provide an account, with up to $60,000 held in public trust, to every one of the four million children born each year in the United States, and why this economic right to wealth, often referred to as a Baby Bond or a Baby Trust, should be calibrated to the economic position of a child’s family.
 
This is a joint publication between the Center for American Progress and the Kirwan Institute for the Study of Race and Ethnicity at The Ohio State University, The column was co-authored with Darrick Hamilton of the Kirwan Institute. Author's Note: CAP uses "Black and African American" interchangeably throughout many of our products. We chose to capitalize "Black" in order to reflect that we are discussing a group of people and to be consistent with the capitalization of "African-American."