Twice in recent months the Star Tribune has published front-page stories about Minnesota corporate foundations and nonprofit institutions shifting the focus of their community work to "equity."
The word is relatively new in public discourse and becoming more prevalent, for good reason. Equity is increasingly understood as a desired condition that results from fixing the things that cause all our costly and interrelated inequalities: racial, economic, regional and environmental.
Equity is a more appealing word than "equality" or "charity," perhaps because of its strong business sense, and the connotation of building assets and a larger ownership share for those of us who historically have been excluded or left behind. Googling the word these days still links you mostly to the world of investing and corporate finance.
A hardheaded underlying motivation behind this new striving for equity is the realization that widening inequalities are simply not good for business or communities. That truth came through strongly in a Target Foundation statement last fall about its new equity focus, expressed as a concern that "as the demographics of our region continue to shift, the costs of inequality will continue to grow."
A second and equally important growing concern swirls around climate change as a disruptive, dis-equalizing and destructive force. There, too, the Minnesota business community is awakening to the challenge. Nine major companies with headquarters or operations in Minnesota urged state lawmakers last year to address climate change as part of final policy and spending negotiations at the Capitol. The statement said: "We support decarbonization strategies because they will help us ensure prolonged profitability, reduce risk, safeguard the resilience of our supply chains and allow us to better meet the growing demands of our customers and investors." Polling shows gradually rising consensus, in rural regions as well as metro regions, in favor of climate action.
Meanwhile, we are daily bombarded with corroborating news about the effects of inequalities and climate change, at a time when the economy supposedly has never been better. In the headlines: stubborn racial disparities in education attainment and economic condition, rising rates of impaired water in our precious lakes and streams, an uptick in crime rates, rural stagnation and climate-related declines in farm income, addiction tragedies in every neighborhood of the state, and affordability crises for health care, housing, child care and higher education.
All these headlines contradict the narrative of economic growth, precisely because that growth is so unequally shared. Although average income is increasing, in the same way it does when Jeff Bezos walks into a room, research continues to show that more than a fourth of Minnesotans are economically insecure, with little or no savings and a car breakdown or health crisis away from big trouble.
So what do we do?