Town & Country: Meet The Rich Kids Who Want To Give Away All Their Money

Town & Country, Sept. 27, 2019: Meet The Rich Kids Who Want To Give Away All Their Money

It’s a Sunday in July, and this is the weekly status meeting of the Action Committee of the New York chapter of Resource Generation (RG), an organization founded on the belief that young wealthy people should give away most or all of their inherited money or excess wealth. Or, in the group’s words, “As part of a coordinated strategy to systematically redistribute wealth and repair the harm created by wealth extraction, RG asks our members to take bold action with the resources currently under our and our families’ control, moving toward greater alignment with humanity and the planet.”

RG has 15 chapters across the country. It’s made up of wealthy ­individuals between 18 and 35 who are among the top 10 percent in wealth in the U.S., and its primary goal is to “redistribute all or almost all inherited wealth and/or excess wealth to social justice movements.” To help redistribute the power that goes with having money, RG recommends giving to organizations in which people in the target community (in other words, not just the donor), get to decide how it’s used.

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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