ECONOMIC SECURITY PROJECT INC
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Mission Statement
The Economic Security Project (ESP) mobilizes resources and people behind ideas that build economic power for all Americans. As an ideas advocacy organization, we legitimize our issues by supporting cutting-edge research and elevating champions, win concrete policy victories for the communities that need to see change now, and provoke the conventional wisdom to shift what’s considered possible with narrative interventions. Our team of academics, organizers, practitioners, and culture makers disburse grants, run issue campaigns, develop creative interventions and research products to support the field, and coordinate events to encourage investment and action from others.
About This Cause
We live in a time of historic economic uncertainty. The dramatic increase in unreliable work and the concentration of wealth in too few hands threaten to undermine the foundation of a modern social contract: the idea that if you work hard and play by the rules, you can get ahead in America. Low-income Americans are struggling to pay bills and make rent, and many middle-income earners live on the financial brink as skyrocketing housing, childcare, and medical costs overwhelm stagnant incomes. Even before the pandemic, nearly 40 percent of Americans did not have enough savings to cover a $400 emergency. Now, as families are exhausting their COVID cash relief and facing inflation, many Americans are teetering on the financial edge. Without new, bold thinking, we risk leaving millions of people behind. We owe it to Americans to combine big thinking with rigorous evidence to do what we know works, and an increasing body of research points to one key intervention: cash. Studies worldwide have shown time and time again that when given unconditional cash, people take care of their needs and focus their energy on climbing up the economic ladder. Also, their educational achievement increases, they report greater well-being, and their health outcomes substantially improve, all with no effect on labor market supply, a commonly cited concern. During the pandemic, we have seen first-hand how cash can supplement the current social safety net and give people the freedom to meet their most urgent needs, such as food. When regularized, unconditional cash’s impact is even greater, as a steady, predictable cash flow allows people to plan for their future and take steps to improve their financial situation – for example, instead of taking a lower-paying job out of desperation, holding out for a higher-paying one that better matches their goals and skills. Given these benefits and the fragility of too many Americans’ financial position today, the idea of cash as a powerful intervention has been gaining popularity and support – a movement ESP has been seeding and leading over the past five years.