On Capitalism and Child Poverty
Our American Dream is defined by the idea that if you work hard, you get ahead. I know too many people working too hard to just get by. While capitalism is the best way to allocate resources so far discovered, it has several inadequacies. Capitalism is short-sighted, acts on imperfect information, does not account for externalities, and makes it incredibly difficult for people without generational wealth to get ahead. Senator Cory Booker plans to address these problems and alleviate child poverty through baby bonds. By investing in our kids so they have a head start on paying f or wealth building activities like getting a college education, buying a house, or starting a business, Senator Booker accounts for one of capitalism’s shortcomings, sets millions of kids up for success, and levels the field for kids growing up with fewer resources. Our current system of capitalism does not support competition or t...