Grant could help more in ABQ climb economic ladder

“Give a man a fish, and you feed him for a day. Teach a man to fish and you feed him for a lifetime.”

The origin of the above quote is highly contested, according to Quoteinvestigator.com, with claims that cover the ages and the globe — from Chinese to biblical to Native American. But the principle of alleviating poverty by facilitating selfsufficiency is often attributed to 12th-century philosopher Maimonides, who said of the eight degrees in the duty of charity, “The most meritorious of all, is to anticipate charity by preventing poverty . ... ”

And that can be done in many ways, from teaching a trade to financial literacy. That time-honored and worthy concept makes it an extremely positive development that Albuquerque has been selected as one of 10 cities to receive a grant aimed at finding effective ways to do something about declining economic mobility and income inequality.

“Children’s outcomes in adulthood vary sharply across neighborhoods that are just a mile or so apart,” said Andrea Coleman of Bloomberg Philanthropies in Tuesday’s Journal. “That’s significant, because there is a very strong narrative in this country that if you work hard, you’ll get ahead.” But there are factors that make upward mobility difficult no matter how hard you work, which brings us back to Maimonides. New Mexico is eighth among states with the highest proportion of people who don’t have a savings or checking account. If they need to cash paychecks, they often have to pay fees that can amount to hundreds of dollars a year. It follows that without a bank account, getting credit is difficult and often expensive. And it’s just one example of hard-working people shelling out their hard-earned cash for expenses many of us don’t have to deal with — a dynamic that helps lock them into poverty.

The city’s grant of up to $150,000 is part of a $12 million initiative sponsored by Bloomberg Philanthropies, the Bill & Melinda Gates Foundation, the Ballmer Group and other partners. Cities will focus on different issues and share data with the goal of coming up with data-driven strategies to help people better manage their affairs and take advantage of the opportunities this country offers, especially now with a hot economy where most anyone who wants a job can find one.

Brittany Ortiz, deputy director of Albuquerque’s Office of Equity and Inclusion, says the city will focus on financial literacy training — a concept championed by former Lt. Gov. Diane Denish — financial empowerment and “making sure people get banked and they understand what the options are.”

It’s an example of helping people work smarter, with more long-term potential than handing out fish.