Gathering of Financial Experts Focused on the Wealth Divide Held at Lender Center, New York
In the heart of New York City, the Lender Center for Social Justice at Syracuse University recently hosted a community-based convening to discuss and explore solutions for addressing wealth inequality in America. The event, supported by a $2.7 million grant from MetLife Foundation, brought together thought leaders, academics, and community organizers to share insights, best practices, and innovative ideas.
Among the esteemed participants were Gregory Price, JP Morgan Chase professor of minority and emerging business at the University of New Orleans, and Marcelle Haddix, Lender Center co-founder and dean of the University of Wisconsin-Madison School of Education. Erasmo Giamboda, professor of finance in the Martin J. Whitman School of Management, and Karac Aral, associate professor of supply chain management in the Whitman School, were also in attendance.
The event, which was the latest in a series of talks, symposia, and convenings organized by the Lender Center over the past three years, focused on the wealth gap in America. Kendall Phillips, Lender Center director and professor of communication and rhetorical studies, spoke at the event, while Thomas M. Shapiro, Pokross Professor of Law and Social Policy and director of the Institute on Assets and Social Policy at Brandeis University, shared his expertise.
The discussions at the event were far-reaching, touching upon the root causes of the wealth gap and offering innovative ideas for addressing the problem. One such idea was leveraging cooperative finance, intentional capital flow, and community ownership as a pathway to economic empowerment.
Pablo Mitnik, assistant research scientist at the University of Michigan’s Center for Inequality Dynamics, and Seyeon Lee, associate professor and associate dean for strategic initiatives and research in the College of Visual and Performing Arts (VPA), were among those who spoke about the importance of local control, collective ownership, and redistributing capital intentionally to build lasting institutions that foster abundance rather than scarcity.
The event also featured presentations from Willie Reddic and Susan Albring, faculty members from Whitman School, who spoke about their research perspectives in "Mapping Communities of Opportunities." Abigail Tick '22, one of the Lender Center's first student fellows, was present at the event, alongside Brice Nordquist, a faculty member from College of Arts and Sciences, and dt ogilvie, former dean at the Rochester Institute of Technology.
In addition to the discussions, the event facilitated dialogues and networking events with around 80 regional community-based organizations to share best practices, build partnerships, and reimagine economic development that centers equity and community power. This reflects a broader vision highlighted in allied discussions about moving capital with intention, supporting Black-owned businesses authentically, and funding community-rooted organizations to sustain long-term wealth building.
The MetLife Foundation played a role by supporting capacity building for partners like the Local Initiatives Support Corporation (LISC), which aligns with the Lender Center’s goals by offering flexible financing and investments in affordable housing, small business, and economic development to uplift under-resourced communities. Their collaboration helps channel philanthropic and investment dollars towards programs that address systemic economic disparities and build financial opportunity infrastructures that are community-guided.
In summary, the Lender Center and its thought leaders propose leveraging cooperative finance, intentional capital flow, and community ownership to close the wealth gap, while the MetLife Foundation contributes by funding and capacity building that supports these inclusive economic efforts. The event in New York City marks another step forward in the Lender Center's mission to foster social justice and economic empowerment.
- The Lender Center's event focused on the wealth gap in America, with discussions centered on leveraging cooperative finance, intentional capital flow, and community ownership as a pathway to economic empowerment, which is aligned with the goals of the MetLife Foundation, who supported capacity building for partners like the Local Initiatives Support Corporation (LISC).
- Among the esteemed participants at the event were academics like Gregory Price, who focuses on minority and emerging business, Marcelle Haddix, an education and self-development expert, Erasmo Giamboda, a professor of finance, and Karac Aral, an associate professor of supply chain management, all of whom shared insights and best practices.
