Working Women and Ray Dalio

Ray Dalio is an American billionaire investor, hedge fund manager, and philanthropist. Dalio is the founder of investment firm Bridgewater Associates. Here are some of his thoughts on our delicate economic stability, particularly as it effects working moms.

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“Another indicator of how the U.S. is failing its most vulnerable residents is that clear tactical remedies that would truly get to the root of inequality are not difficult to see and yet continue to be ignored. Perhaps the most shocking indicator that the government's policies are failing those at the bottom is that 22 million women live below the poverty line and by some accounts just as many live near the edge. Many of these women work minimum-wage jobs with no paid sick days, and they're single moms. The magnitude of this is just staggering.

If a woman making minimum wage without childcare can easily slip into a desperate situation just by her kids getting the flu, it is easy to understand that it is impossible for her to lift herself out of poverty by the only way possible--that is, investing time in her education. The policy solution that would target the root of this problem is a nationwide system of childcare that is open 24 hours, 7 days a week, 365 days a year from when a child is born. Target the neighborhoods with the highest concentration of single mothers living in poverty. These are not difficult to find. Without childcare that allows women to be gone for longer than the workday, women living in poverty have no chance to pull themselves out. This is a policy solution that can actually move the needle on inequality.”

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