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How Bankruptcy Bias Contributes to the Racial Wealth Gap

How Bankruptcy Bias Contributes to the Racial Wealth Gap

Initial data indicates that the wealth gap between Blacks and whites is widening, and a new study from Wharton shows how racism plays a key role in keeping minorities from reaching financial equality.

How Bankruptcy Bias Contributes to the Racial Wealth Gap

Originally posted by Wharton finance professor Sasha Indarte on September 20, 2021

https://knowledge.wharton.upenn.edu/

Wharton finance professor Sasha Indarte is part of a team of researchers looking at bias in bankruptcy, which is a significant source of debt relief for Americans. In their study, Indarte and her co-authors found that Black bankruptcy filers are far more likely than whites to have Chapter 7 and Chapter 13 cases dismissed by the court.

“When a case is dismissed, this means someone goes through all the hassle of trying to file for bankruptcy, but they don’t actually get the debt relief by the end of the process,” Indarte said during an interview with Wharton Business Daily on SiriusXM. (Listen to the podcast above.) “When we see that Black filers are much more likely to get their cases dismissed, that means they’re getting access to debt relief at a much lower rate.”

The Net Positive Manifesto

The Net Positive Manifesto

The Net Positive Manifesto

Is the world better off because your company is in it? 

Originally Punlished in the Harvard Review Magazine (September–October 2021)

Both practically and morally, corporate leaders can no longer sit on the sidelines of major societal shifts or treat human and planetary issues as “someone else’s problem.” For their own good, they must play an active role in addressing our biggest shared challenges. The economy won’t thrive unless people and the planet are thriving.  In this bold manifesto, consultant and author Andrew Winston and former Unilever CEO Paul Polman describe their vision of a “net positive” company—one that grows by helping the world flourish. Drawing on examples from Unilever and other leading companies, they outline four critical paths businesses can take to prosper today and win in the future. They can operate first in service of multiple stakeholders—which then benefits investors (as opposed to putting shareholders above all others); take full ownership of all company impacts; embrace deep partnerships, even with critics; and tackle systemic challenges by rethinking advocacy and the relationship with governments.  No company has yet reached the ambitious goal of becoming net positive. But a growing number have begun the journey—unlocking greater value for their businesses while helping solve larger problems for the benefit of all.

New Research Busts Popular Myths About Innovation

New Research Busts Popular Myths About Innovation

Introduction by Dan Yurman, goProdigii Advisory Board Member

  • Innovation for mature industries, like automobile manufacturing, frequently comes from the supply chain rather than being developed inhouse. The problem is that large bureaucracies stifle innovation as a means of self-preservation. See Max Weber, a 19th century sociologist, who accurately predicted modern day conflicts between “charismatic individuals” and large organizations. This is especially true for disruptive technological change.
  • Large scale adoption of new technologies takes decades. While the Internet went commercial in the very early 1990s, it took another 20 years for Google to rise to a dominant role.
  • The transition of energy for process heat and power took nearly a century to move from wood, to coal, to oil, to natural gas. Now we’re seeing natural gas (hydrogen) being used for fuel cells for cars & trucks and trains. The main barrier is safe distribution and storage in the vehicle which was also an early problem for the automobile and gasoline.
  • The replacement of one technology with another can be limited over time due to the sunk costs in the older technology. For instance, the replacement of manure as a field fertilizer by liquid products was delayed by decades because farmers couldn’t get their heads wrapped around the idea of replacing their horse drawn mechanical spreaders with tractors until farms started to be consolidated into much larger tracts of land that required the tractors and the liquid spreaders.
US DOE Solar Futures Study

US DOE Solar Futures Study

DOE Releases Solar Futures Study Providing the Blueprint for a Zero-Carbon Grid

New Report Shows Solar Energy Rapidly Expands, Generating More Electricity in 2035 than All Homes Consume Today and Creating Economic Opportunities Across America

The Solar Futures Study explores solar energy’s role in transitioning to a carbon-free electric grid. Produced by the U.S. Department of Energy Solar Energy Technologies Office (SETO) and the National Renewable Energy Laboratory (NREL) and released on September 8, 2021, the study finds that with aggressive cost reductions, supportive policies, and large-scale electrification, solar could account for as much as 40% of the nation’s electricity supply by 2035 and 45% by 2050. 

The Trillion-Dollar Fantasy

The Trillion-Dollar Fantasy

Linking ESG Investing to Planetary Impact

  • It is hard to overstate the change in fund flows that this win-win narrative delivered. Just five years ago, the term ESG investing was still fairly new. Now, according to the Global Sustainable Investment Alliance (GSIA), one in three dollars invested globally is invested in ESG assets.