How Crowdfunding Can Reduce Economic Inequality

As we celebrate the 50th anniversary of the March on Washington for Jobs and Freedom, many have expressed their opinion as to the strides made since then, and how much more work Americans have to do in realizing Martin Luther King Jr.’s dream. However, I want to reflect on the vision of A. Phillip Randolph and Bayard Rustin, who intended to focus the March on economic inequality. Randolph inspired the “Freedom Budget,” which aimed to deal with the economic problems facing the black community, particularly workers and the unemployed. As we look at the current economic conditions of New York City on the eve of the 50th Anniversary of the March On Washington for Jobs and Justice on August 28th, 1963, there’s no question that much needs to be done to achieve the Freedom Budget. By almost any measure, New York is among the most successful 21st century world cities. At the same time, 20% of the city’s 8.2 million residents are living below the federal poverty line—more than the entire rest of the state. New York City had a higher level of income inequality than any other metropolitan area in the country, according to the U.S. Census Bureaus report: […]

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