The end of tax season means everyone is concerned about finances and the economy, but have you thought about economic inequality? Women and people of color are currently at a disadvantage in the economy. access is limited. Married women are better off than single women, even though social advances have made it unnecessary for women to get married. Many barriers impede equal access to the economy, and to analyze these barriers and how to overcome them, Daniel Schutes (’08) and City Councilmember Shontel Lewis from the University of Denver Participated in a course to promote women’s empowerment in business and hosted a public discussion.
Through discussion, Schutz and Lewis uncovered the causes of these economic inequalities. The American economy was built on slavery, and a system built on free labor struggles to continue functioning even when labor is no longer free. Women and BIPOC individuals were barred from participating in the economy at its creation, which reduces their access to the economy today. According to Schutz, the flaws in the current health care system stem from the inability of Medicaid and Medicare to negotiate with private health insurance companies. The inability to negotiate means the government cannot compete with health care providers, and health care costs remain high.
However, it’s not all doom and gloom. While there are many possible solutions, both Lewis and Schutz believe positive change can be made. Mr. Lewis doubts capitalism’s ability to bring about good and believes government programs such as public housing can help rebuild the economy. Low-income housing often concentrates the poor, but public housing, or mixed-income housing, allows people to pay a percentage of their income for the purchase of the home.
Schutz said companies need to start investing in their employees. In some cases, it can be profitable to exploit workers, but this weakens the workforce and is not sustainable. By investing in workers through services like free child care, commuter reimbursement, and mental health support, companies can build strong, loyal workforces.
The gunman also recommended bringing the workforce back into the country. The United States has exported labor in search of lower prices, but continuing to do so will further complicate the problem. Bringing the workforce back will take a short-term financial hit, but doing so will help build the foundations for a healthier economy. To solve problems within the health care system, Schutes believes that by putting the government in charge of insurance and private companies in charge of health care, we can create a system where families no longer have to worry about rising medical costs. Masu. Mr. Schuetz and Mr. Lewis agreed that government and private industry must adhere to standards of transparency and accountability.
Mr. Lewis and Mr. Schuetz agreed that it was time to make these changes. “We have to choose between racism and sexism and the economy,” Schutz said. Without reform, the system will collapse. But change is on the horizon. Gen Z, the most diverse generation, is entering the workforce in droves and ready to make the changes needed to sustain our future.