Published by the policy center Demos and the Institute on Assets and Social policy, this report is based on the Middle Class Security Index which uses government data and measures the financial security of the middle class by rating household stability across five core economic factor assets, educational achievement, housing costs, budget and healthcare. According to the new report, 76% of American middle class households are not financially secure at this time.
View report
View fact sheet for the report
IASP Associate Director Janet Boguslaw publishes chapter in Sustainable Challenges and Solutions at the Base of the Pyramid: Business, Technology and the Poor.
IASP's Middle Class Work Featured on NBC Nightly News
IASP's work on the middle class was featured on NBC Nightly News with Brian Williams Wednesday night, October 29th. NBC used the findings from our recent Economic (In)Security report - in collaboration with Demos - to provide insight into how the middle class is faring in the current economic downturn, particularly African-American and Latino households. The segment included graphics showcasing our findings and an interview with Jennifer Wheary, Demos Senior Fellow and co-author of the report.
IASP Director Thomas M. Shapiro publishes article in The American Prospect
IASP Director and Heller School's Professor of Law and Social Policy along with Melvin L. Oliver wrote "Sub-Prime as a Black Catastrophe" published in The American Prospects's October special report on narrowing racial divides. Despite legal gains in civil rights, asset inequality in America has been growing rapidly over the last twenty years. As minorities received a disproportionate share of sub-prime mortgages, they are suffering a disproportionate share of the burden and losses as well.
IASP Receives Rockefeller Foundation Innovation Award to Strengthen Social Security for Vulnerable Groups
A proposal submitted by IASP's Tatjana Meschede, Laura Sullivan, and Thomas Shapiro is among twelve policy projects selected by the National Academy of Social Insurance (NASI) to compose policy papers identifying specific ways to improve Social Security for a range of vulnerable groups. Specifically, the IASP team will study and recommend innovative policies to strengthen Social Security for low-wage workers. Final papers of all selected policy scholars will be synthesized and made available to policy makers, congressional staff, executive branch transition teams, and other stakeholder communities.
Strategy Meeting for Asset-Building Coalitions in States
Over 60 individuals representing 28 different state coalitions, national intermediary organizations and several foundations gathered in St. Louis to share coalition achievements and challenges, learn about successful tactics and available resources and technical assistance, and begin to develop strategies to sustain and advance the work. Under the sponsorship of the Annie E. Casey Foundation, IASP teamed up with the Center for Social Development (CSD) at Washington University and CFED to plan and facilitate the first-ever strategy meeting for emerging and developed statewide asset building coalitions.
FDIC Alliance for Economic Inclusion Forum at Brandeis
IASP Director Tom Shapiro joined Timothy Delessio, FDIC Community Affairs Officer, in welcoming participants at the joint Boston and Worcester Alliances for Economic Inclusion General Forum on Innovation in Saving and Wealth-Building. Lisa Lynch, incoming Dean of the Heller School, presented opening remarks on "The Importance of Savings and Financial Security." Peter Tufano, Professor of Financial Management and Senior Associate Dean, Harvard Business School, addressed "Financial Innovations to Support Savings: From Coercion to Excitement." The morning's agenda also included the presentation "Wealth Inequity, Debt, and Savings: Implications for Policy and Financial Services," by Sandra Venner, IASP Program Director. Read the full story
Massachusetts Asset Development Commission
The first meeting of the Massachusetts Asset Development Commission was held on March 13th. IASP Director Thomas Shapiro was invited to make the introductory presentation to his fellow commissioners. Undersecretary Tina Brooks and Rep. James Eldridge were selected as co-chairs by the Commissioners who had been appointed by the Massachusetts legislature and the Governor. The Commission will conduct research, engage constituencies, and make policy recommendations to ensure low and moderate income Massachusetts residents have opportunities to develop assets throughout life for sustainable economic security and improved quality of life. IASP will assist the Commission in achieving its mission through supporting research and community engagement. The network of organizations involved in IASP's Massachusetts Asset Policy Initiative will work with state and national officials to see through implementation of the recommendations of the Commission.
Visit the Asset Development Commission's web site
"Economic (In)Security: The Experience of the African-American and Latino Middle Classes"
IASP and Dēmos released a second report in the "By A Thread" report series on the state of the African-American and Latino middle class and its ability to achieve the American Dream. This landmark study is based on the new "Middle Class Security Index." Major findings demonstrate that three out of four African-American and four out of five Latino middle class families are either borderline or at high risk of falling out of the middle class altogether. Download the document
The Boston Globe cited IASP and the "By a Thread" report in this article about middle-class families© 2009, Institute on Assets and Social Policy, The Heller School for Social Policy and Management, Brandeis University. All rights are reserved.
