Baby Stocks
How America’s Equities Could Heal Its Inequities
Bibliographic Data
| ID | 21619573 |
|---|---|
| Authors | Michael Miovic (0000-0001-9546-6046, MD, Medical Director, Primary Care Behavioral Health, VA Boston Healthcare System, West Roxbury, MA, USA, corresponding author) |
| Year | 2024 |
| Volume | 105 |
| Issue | 2 |
| Pages | 238-251 |
| Publication date | 2024-06-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Families in Society The Journal of Contemporary Social Services (JOURNAL) |
| Journal identifiers | ISSN: 1044-3894 • E-ISSN: 1945-1350 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/10443894231165605 |
| OpenAlex | W4383551331 |
| Language | EN |
| References cited | 28 |
This article reviews economic and financial evidence that explains why the U.S. stock market should be viewed as a social determinant of health. Because U.S. stocks return more than other assets, over time compound interest concentrates wealth in the hands of wealthy, white, and foreign investors who own most of the U.S. market. In contrast, lack of equity ownership sustains financial hardship and racial inequities for the bottom half of the population and worsens their health through socioeconomic effects on medical outcomes. To address these problems with wealth and health disparities, the author reviews potential models for democratizing market ownership and then argues the United States should give an index fund of its whole market to every child at birth (i.e., baby stocks) and ensure long-term holding to build wealth for all citizens
Business · Economic growth · Economics · Financial economics · Financial market · Geography · Health care · Health equity · Political science · Population · Socioeconomic status · Stock market · Employment and Welfare Studies · Global Health Care Issues · Health disparities and outcomes · Finance
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Democratizing Investment
| Highly cited | No |
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