Economic Dignity

The definition of economic dignity has three parts, to be able to take care of your family, having the ability to reach your potential and being free from domination and humiliation. It’s from an article by economist Gene Sperling in the journal Democracy. Sperling worked with both presidents Clinton and Obama. He believes that economic dignity should drive economic policy and that metrics like GDP can be misleading and not produce the right results. In other words economic policy need to make sure for example that people can have jobs with living wages or that corporations not contribute to decreasing upward mobility. Here is how he ends his article: “Government cannot guarantee happiness. But there is little question that with wise and just policy, we do have the power to say to all our people that if you do your part, you care for your family, pursue potential and purpose without ever feeling that you have been given up on, and participate in our economy with a degree of fairness and respect as opposed to domination and humiliation. That much—that basic promise of economic dignity for all—is something that is within our grasp.”

If economic equality means anything to us, then economic dignity is a concept both powerful and useful. And as we begin to ponder national elections, gauging candidates by how closely their rhetoric to combat inequality mirrors this concept may be essential.

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