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
for 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 the American
Dream when some kids start five feet from the finish line and others can’t even
get in to the Stadium.Through baby bonds and cash programs, Cory addresses
these systemic disadvantages while preserving the strengths of capitalism. And
in a 21st Century Economy where knowledge is King, setting up our kids for
success is just about the best way for America to preserve our competitive advantage.

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