When someone looks at the video with the young woman that is going around social media I was thinking that we have to do better. When I began to take a closer look at what she was saying and her mentality is no different than the young entrepreneur who creates a start up in a new industry, a stockbroker on Wall Street, a young athlete training hard to go into the NBA or NFL. The mentality is the same and The Hamilton Institute wants to redirect their efforts in the right direction. The benefits of redirecting the economy from indirect to formal will unleash untold benefits not only these communities but for the economy in the whole.
Transforming the community’s economy from indirect to formal will help these communities being able to reduce poverty, repair schools, reduce crime and generally improve the outlook for the members of the community. The products of an indirect economy (drug, gun running, prostitution, numbers, and others items) become the first and sometimes last option for many underserved communities.
The Hamilton Institute offers options that create a better alternative than going to prison, horrible runs in with police, and the criminal justice system.
This is the best way to combat inequalities.
Founding Purpose: “We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity.”
The mechanism for achieving this goal is Capitalism and Democracy.
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