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The William T. Grant Foundation was established in 1936, originally as the Grant Foundation, by American businessman and philanthropist William Thomas Grant.In 1938, the Foundation funded its first major research project, the Grant Study at Harvard University, in which some of the subjects were followed for over 75 years. [4]
He retired from both the W. T. Grant Company and the Grant Foundation at age 90, yet still served in an honorary capacity until his death in 1972 in Greenwich, CT at age 96. By that time his nationwide empire of W. T. Grant Co. (Grants) and Grant City stores had grown to almost 1,200, although the company failed in 1975 and was soon liquidated.
A particular focus of his research has been school structure, educational inequality, and school reform. [3] In 2013 he became the president of the William T. Grant Foundation, which funds social science research meant to improve the lives of young people. [3]
Understanding the process of social inequality highlights the importance of how society values its people and identifies significant aspects of how biases manifest within society. In simple societies, those that have few social roles and statuses occupied by its members, social inequality may be very low.
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Buildings in Rio de Janeiro, demonstrating economic inequality. Effects of income inequality, researchers have found, include higher rates of health and social problems, and lower rates of social goods, [1] a lower population-wide satisfaction and happiness [2] [3] and even a lower level of economic growth when human capital is neglected for high-end consumption. [4]
Reducing poverty and economic inequality in the UK should be an “urgent public health necessity” as these are “toxic” to mental and physical health, a report warns.
Writing in the Harvard Business Review in September 2014, William Lazonick blamed record corporate stock buybacks for reduced investment in the economy and a corresponding impact on prosperity and income inequality. Between 2003 and 2012, the 449 companies in the S&P 500 used 54% of their earnings ($2.4 trillion) to buy back their own stock.