Ford Foundation president: Here's how business can fix inequality

In a conversation with Yahoo Finance's Andy Serwer, Darren Walker explains how short-termism in business can exacerbate income inequality and how the Ford Foundation is working to alleviate the many forms of inequality around the world. 

Published in Yahoo Finance | August 23, 2016

Ford Foundation president: Here's how business can fix inequality

By Darren Walker

The gap between rich and poor is by some measures as wide as its been in nearly a century. According to tax data tracked by Emmanuel Saez, an economics professor at the University of California, Berkeley, the average income for the top 1 percent of households in the US climbed 7.7 percent last year to $1.36 million. That group saw pay climb at almost twice the rate of income growth for the other 99 percent whose pay averaged a mere $48,768. Pretty stunning, no?

The implications are certainly being felt politically with polarized elections here and around the globe and economically as well with companies for instance changing up what they sell and where they operate.

Read the complete article and watch Darren's interview here

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The Ford Foundation is an independent, nonprofit grant-making organization. For more than 80 years it has worked with courageous people on the frontlines of social change worldwide, guided by its mission to strengthen democratic values, reduce poverty and injustice, promote international cooperation, and advance human achievement. With headquarters in New York, the foundation has offices in Latin America, Africa, the Middle East, and Asia.