Despite all of the civil rights gains of the past several decades, when it comes to economic opportunity, African Americans and Latinos still experience far more unemployment than do whites and Asians, average wages are lower, and household wealth is lower. A smaller percentage of African Americans and Latinos attend, and complete, college, than is the case with whites and Asians, and a higher percentage end up in prison. All of these are indicators of massive disparities in opportunity, and these disparities are mirrored in poverty data.

I argue that in the long run, the US would be on a far more financially secure footing if we recalibrate how we spend about two-to-three percent of the country's GNP, using state and federal taxes to create pools of money for spending on America's poor - which would, as numerous economists have argued in recent years, create virtuous spending circles, since those on lower incomes spend more of each extra dollar in their possession than do those on higher incomes.

Poverty became something one could see and experience firsthand, no matter where one was on the economic ladder; it became something you could viscerally experience through the lives of friends, family, neighbors, colleagues. I'd venture to say it's a rare person in 2013 America who knows nobody who lost a job in the recession, or knows nobody whose home went underwater or who went into foreclosure.

To really tackle poverty, politicians, activists, academics will all have to think outside their boxes, will have to start developing much more integrated approaches to these problems. And a large part of this will involve working out ways to push for living wages. Partly this will involve re-empowering the union movement, which has been massively weakened in recent decades. Partly it will involve a willingness to restructure tax codes to penalize companies that don't provide basic benefits and decent wages to employees.

When I talk about an "empathy bank," I don't mean literally opening up a bank and putting in deposits. What I mean is that the more we can, as individuals and as members of a community, empathize with, understand the pain and uncertainty economic crisis causes other people, the more we lay the groundwork for political change.

Today there are a huge number of think tanks working on poverty-related issues; there are books written on the topic; and university centers being created to study poverty. But, at the same time, the media has a terribly hard time with this issue; it's very hard to convince editors and publishers to devote resources to complex investigations of the lives of America's poor. And, as a result, too often poverty is portrayed in stereotypes, in sound bites, in a few pat images rather than in its full Technicolor complexity and diversity.

The poverty we see in America is now too widespread, and too complex, for easy fixes. But I do think we can reimagine many of our institutions and can create new ones in ways that would be effective. We could, for example, create social insurance systems, similar to social security, such as that we went through in 2008-9. We could create a financial transaction tax, oil profit taxes and a fairer estate tax system, and we could plow much of the revenue raised from these into job training programs, into better education infrastructure, into an expanded Earned Income Tax Credit.