 I am Dara Camelton, the Henry Cohen Professor of Economics and Urban Policy, and the Founding Director of the Institute on Race, Power, and Political Economy at the New School. Wealth determines one's ability to dictate terms in marketplace. To purchase big ticket items, to make financial decisions as it relates to their well-being, a baby bond is a birthright to capital. A baby bond is grounded in the understanding that the ways in which most people generate wealth is capital as a foundation. Regardless of whether you're born poor, wealthy, black, white, you as an individual will have set aside for you a nest egg so that you can get into a vehicle of asset accumulation like a home as opposed to being a renter. The difference between a worker and an entrepreneur is often grounded in capital. The difference between a worker with a 401k versus one without is often a college degree without the albatross of student debt. So what Baby Bonds does is it provides that capital foundation so that people can get into an asset that passively appreciates over their life and gives them the security and the wherewithal that comes along with wealth itself. You know, I think a wrong way to think about Baby Bonds is a cost. The right way to think about Baby Bonds is government investing in our most treasured resource and that is people. Sadly, in our society, when government resources are directed towards firm, we consider that investment and when it's directed towards people, it's considered a cost. Perhaps we should flip that equation. So to the extent that we don't create a society grounded in investments in people in an egalitarian way, we remain vulnerable to political moments of fascism. Baby Bonds show that the state can actually improve people's lives, can invest in something that's dear to that mother or father, their child. Arguably, the most successful public policy is social security. What we don't have is something for individuals that are just starting out for a young adult that's just beginning so that they have that capital foundation where they can choose to invest in their education, their home ownership, their entrepreneurship. It creates intergenerational opportunity so a complete picture of human rights includes economic rights. So when people question, you're just going to give people money? You're just going to provide capital for people? The answer is yes. All the financial literacy in the world may be valuable, but it's limiting and perhaps even useless if you don't have capital with which to manage in the first place.