New York City Comptroller Brad Lander shared that there is a “real opportunity to build a more inclusive economy, but we are going to have to be more courageous and more disciplined about it,” while speaking at the opening panel of the second day of the Robert F. Kennedy Human Rights Compass Summer Investors Conference.

Lander asserted that the moment was right for pension funds, private equity firms, and the companies they invest in to pay more attention to human capital management and support workers’ right to organize, pay fair wages, and support labor standards that align with human rights.

Joining Lander for the panel discussion was Illinois State Treasurer Michael Frerichs, who shared that to create long term value, it is important for companies to treat their employees with respect. He said private equity firms can play a positive role in expanding the economy, as long as they infuse capital and fresh ideas to help stagnant companies thrive. 

Lander and Frerichs agreed that the business case to support diversity, equity, and inclusion is clear.

“Diversity is good for business,” said Frerichs. “When you get people of different backgrounds and different life experiences around a table, you produce better decisions.” Lander pointed to the words of Robert F. Kennedy from a speech at the University of Kansas in 1968, offering a vision of a more inclusive economy that wasn’t just focused on growth. A healthy economy, he said, can thrive more when workers and consumers can share in economic gains. 

Darrick Hamilton, Henry Cohen Professor of Economics and Urban Policy at The New School, advocated for “baby bonds” alongside Connecticut Treasurer Erick Russell. Baby bonds can help position children for future economic prosperity, “regardless of your gender, your race, or your class status,” said Hamilton. Russell, who pioneered a first-in-the-nation baby bonds program, said the initiative could help address the state’s wealth gap.

“We know the biggest indicator in someone’s ability to build wealth over time is having some access to capital to start with,” said Russell.

Connecticut was the first state to approve baby bonds in 2021, rolling out a program that deposits $3,200 for each child whose birth is covered by the state’s Medicaid program. When these children reach adulthood, they can access the funds for various wealth-building activities, such as buying a home or starting a business in Connecticut, or to fund their education or job training. 

In a separate discussion at the conference, Vermont Treasurer Mike Pieciak shared his reflections on statewide programs he advanced, supporting retirement, affordable housing, climate change, and investments in the state’s youth.

“Every person has value, everyone matters, and you have to find a way to give back to your community to look out for those who are less fortunate than you,” Pieciak said. 

The 2024 RFK Summer Compass Investors Conference was held from June 10-13 in Chatham and Hyannis Port. The 2025 Compass Conference will be held on June 9-12 at the Chatham Bars Inn.