The Weekly Slice April 27, 2023

?Inclusive Economy

A More Deeply Shared Prosperity

The “Inclusive Economy” is no easy thing to explain, because it is no single thing. Look over the agenda for the?Global Inclusive Growth Summit?held earlier this month in DC, and you’ll see discussions on racial equity, climate change, refugee employment, women’s empowerment, digital access, job quality, indigenous knowledge, corporate initiatives, investment, philanthropy, policy, social impact, and trust. It’s a lot. (FYI, you can view recordings of those sessions?here.)

Because economic inequality requires a big-picture approach, it’s important to refocus every once in a while.?Ida Rademacher?of the?Aspen Partnership for an Inclusive Economy?helped us do just that when she sat for a post-Summit interview with?Ramona Schindelheim?for?WorkingNation's?Work in Progress?podcast.?

It’s 18 minutes that’s well worth the listen. Rademacher gives her thoughts on education, jobs, bias, financial security, access to capital, and dozens of other facets of inclusive economic thought. Perhaps most importantly, she reminds us that what counts in the end is results. “If the ways that we’re trying to make the economy work for more people doesn’t show up in actual improvements in household net worth and the ability to manage your everyday life,” she said, “then we’re not there yet.”

Find the podcast (and a few choice quotes) here.?

Educational Approaches?

Value-Driven Excellence: The Transformative Power of Community Colleges

In the sage advice of “Go to college and get a good job,” there’s an awful lot that gets glossed over between step one and step two.?

The best colleges understand that mere enrollment is not a ticket to prosperity, and they work to help students succeed during college—and after. They don’t just create plans of study and offer passive support, but work proactively to keep students on productive paths to graduation and then to career paths that will allow them to thrive.

Two such colleges were honored last week by the Institute’s?College Excellence Program?with the?2023 Aspen Prize, and will split a $1 million award. The Aspen Prize is the nation’s leading recognition for community colleges, and aims to elevate the entire sector while also lifting up the practices that work to deliver better and more equitable student outcomes. The program’s?Josh Wyner?explained what makes these community colleges so special in a?recent post to the Institute website.?

The winner:?

• Amarillo College, Texas?

The approach:

• Develops workforce programs for in-demand fields in the region, from agriculture to nursing.?
• Prepares students for jobs in cybersecurity and other technical fields in 10-week sprints.
• Set a goal to remove at least one poverty-based barrier for every student.

The results:

• “Amarillo students, on average, earn over $41,000 the year after graduation, 37% more than other new hires in the region.”

The winner:?

• Imperial Valley College, California

The approach:

• Prioritizes paths to bachelor’s degrees in a region with low bachelor’s attainment.?
• Starts with dual enrollment in high school, helps students make a college plan early, and supports them as they transfer into partner four-year institutions.
• Schedules classes for times when students can more easily attend, rather than around faculty needs.

The results:

• “Transfer rates are steadily increasing, and over half of Imperial Valley students who transfer complete bachelor’s degrees within six years, well above the national average.”?

Read more about the winning community colleges here.?

Environmental Effects?

Climate Change is a Growing Threat to Household Financial Security—We Need to Prepare

Climate change is an existential issue and one that ought to be considered whenever the subject of household financial security is discussed.?Joanna Smith-Ramani?of the?Financial Security Program?and?Greg Gershuny?of the?Energy and Environment Program?show how tightly the two are intertwined in?a recent op-ed for?The Hill.?

?“Many American households [are] financially unprepared to weather even a modest disruption, such as an unplanned medical or vehicle bill,” they write, “much less the massive economic upheaval that climate change is already beginning to unleash on our lives.” They call on leaders in the two realms to unite their networks and expertise to ensure that all households can better recover from the impacts of natural disasters—both in the short-term and the increasingly unpredictable long-term.

Read the whole piece here.