Hard work, resilience and grit lead to success, right? This narrative
pervades the way we think, says economist Darrick Hamilton, but the
truth is that our chances at economic security have less to do with what
we do and more to do with the wealth position we're born into. Enter
"baby bonds": trust accounts of up to $60,000 for every newborn,
calibrated to the wealth of their family. Learn how this bold proposal
could help us reduce inequality -- and give every child personal seed
money for important things like going to college, buying a home or
starting a business. "Without capital, inequality is locked in,"
Hamilton says. "When it comes to economic security, wealth is both the
beginning and the end."
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