Economics

OP-ED: Better Pay Comes Only When We Demand It

Published

11 years ago

May 27, 2015

Los Angeles just voted to raise its minimum wage to $15 an hour by 2020. The nation’s second-biggest city joins Seattle, San Francisco and little Emeryville, Calif., in forging the way to a decent minimum.

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Similar measures are now being considered in New York City, Kansas City, Mo., and Washington, D.C., the nation’s capital. Facebook is now paying its workers a $15 minimum and joins Apple and Microsoft in demanding that its contractors pay a $15 minimum and offer paid leave days.

These victories are a product of the demonstrations and protests of fast food and other low-wage workers. They risked their jobs to demand decency.

They put a human face on workers who labor full time but can’t lift their families out of poverty. They exposed the lie that these were transitory jobs for the young while they went to college or high school.

Their demonstrations — organized under the hashtag slogan #FightFor15 — drew national press attention. Their struggles touched the hearts of citizens of conscience. They built the coalition that forced the politicians to respond.

Dr. Martin Luther King taught us that “freedom is never voluntarily given by the oppressor; it must be demanded by the oppressed.” There are three ways to respond to repression, he told us. The first is acquiescence, adjusting quietly to injustice and becoming conditioned to it. “Been down so long it feels like up to me.”

Acquiescence, he warned, turns people into part of the problem.

The second way to respond is with physical violence and corrosive hatred. But violence never solves problems; it simply creates more difficult and complicated problems. An eye for an eye, he warned, would leave us all blinded.

The third way is nonviolent resistance. Nonviolence rejects acquiescence and violence. It confronts the oppressor, gives voice to the oppressed, and exposes the injustice. It starts always against the odds, so it requires faith. “Faith,” Dr. King wrote, “is taking the first step even when you don’t see the whole staircase.”

The #FightFor15 workers had faith. They chose to resist, not accept their poverty wages. They demonstrated for decency. And they have created a movement that surely will spread across the country.

California is one of eight states that ban the subminimum wage that is inflicted on so-called “tipped workers,” the wait staff and service workers that serve our food, clear our plates or carry our bags.

California also voted to start publishing the names of companies that have more than 100 workers on Medicaid and the costs that they force on the states. Informed customers may well prefer to do business with high-road employers rather than those profiting from a low road.

Most of our news coverage follows the frozen partisan politics of Washington. There, Republican leaders in Congress won’t even allow a vote on a modest Democratic proposal for a $12-an-hour minimum wage.

The only time Congress seems to act is when the corporate community wants a tax break or a trade deal passed, or when the Pentagon demands more money to waste.

But across the country, people are beginning to stir. Blacks and whites are joining together to demonstrate that #BlackLivesMatter.

Latinos are demanding immigration reforms that will bring millions out of the shadow economy. Gays and lesbians are demanding equal rights. Women are demanding equal pay, and men and women are insisting that the decision to have a child has to be one that they and not politicians make.

Change will come, but only when people demand it and force their politicians to salute.

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Advice

Women & Wealth: Tips for Navigating Your Lifelong Financial Journey

Published

2 weeks ago

March 15, 2026

Oakland Post

Sponsored by J.P. Morgan Wealth Management

We are in the midst of a seismic shift in wealth. This phenomenon, often referred to as the “Great Wealth Transfer,” describes the unprecedented movement of assets from the Baby Boomer generation to their heirs – an estimated $105 trillion by 2048. And women are poised to inherit most of this.

J.P. Morgan Wealth Management’s 2025 Investor Study found that women are not only set to receive significant wealth – they’re actively working to build it on their own. Ninety-three percent of women surveyed who are expecting an inheritance aren’t relying on it to reach their goals.

Here are a few tips for women to consider in their wealth-building journey:

Create a financial roadmap

A detailed, well thought out plan is important. J.P. Morgan’s study found that 90% of those surveyed with a plan feel confident about reaching their financial goals, compared to 49% without one.

Your plan should reflect your unique goals, priorities and circumstances. Consider your investment horizon and risk tolerance, and remember to revisit your plan regularly as life evolves.

Are you saving up for goals like buying a house, sending your kids off to college or retiring early? Where do you want to be in the next five, ten or twenty years? Everyone’s financial situation is unique, so it’s important to think about these questions and build a plan that is unique to your life.

Women tend to live longer than men on average. Many take career breaks or care for family members, which can influence long-term planning. It’s important to adjust your strategy with these factors in mind.

Where to start with investing

Don’t let misconceptions hold you back. Starting to invest doesn’t require a large sum, and beginning early can be beneficial. The earlier you start, the more time your money has to potentially grow over the years. Understand your overall financial situation, set clear goals and develop a long-term plan.

It’s important to also make sure you’re covered for unexpected expenses that come up before you start to invest. Build up a cash emergency fund, typically enough to cover three to six months of expenses, and pay down any high-interest debt.

Taking charge of your finances

The good news is that women are taking charge of their finances. J.P. Morgan’s research found that 75% of women respondents make financial decisions with their partner or take the lead themselves. For those who have a spouse or partner, it’s important for each person in the relationship to play an active role in the process.

Building wealth can be empowering for many women. The same survey found that 73% of women respondents said money gives them “security,” while 64% of Gen Z and Millennial women associated it with “freedom.”

The power of having a team

Some people find it helpful to work with a financial advisor, so you don’t have to tackle things alone. An advisor can help you craft a plan tailored to your needs and keep you on track throughout your lifelong financial journey. If you expect to receive an inheritance, you should also consult with estate planning and tax professionals.

No matter where you are on your wealth-building path, education is key. It’s so important to be an informed investor, and there are plenty of resources out there to help. You can find a library of free educational resources at chase.com/theknow.

As the landscape of wealth continues to evolve, women have a unique opportunity to shape their financial futures and those of generations to come. By staying informed and planning ahead, women have the tools to help them confidently navigate the Great Wealth Transfer and set themselves up for financial freedom.

The views, opinions, estimates and strategies expressed herein constitutes the author’s judgment based on current market conditions and are subject to change without notice, and may differ from those expressed by other areas of J.P. Morgan. This information in no way constitutes J.P. Morgan Research and should not be treated as such. You should carefully consider your needs and objectives before making any decisions. For additional guidance on how this information should be applied to your situation, you should consult your advisor.  

JPMorgan Chase & Co., its affiliates, and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transaction.  