Hard cultivate, resilience and grit lead to success, right? This narrative pervades the space we picture, 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 abundance berth we’re born into. Enter “baby bonds”: cartel accountings of up to $60,000 for every newborn, gauged to the wealth of their family. Learn how this bold proposal could help us reduce prejudice — and utter all the children personal grain money for important things like going to college, to purchase a home or starting a business. “Without capital, prejudice is locked in, ” Hamilton says. “When it comes to fiscal protection, rich is both the beginning and the end.”
Read more: ted.com.