“The takeaway is that we have a history that so many Chicagoans are really not aware of that has really shaped the city and shaped the racial politics of the city. It shaped the economy of the city. In order to move forward and address issues that confront us in terms of poverty and racial discrimination, we have to have a common understanding of what happened in the past,” said Duke University’s Bruce Orenstein, the study’s project director who is doing a documentary series on Chicago’s housing segregation.That past has roots 100 years ago with white people not understanding that they created black ghettos, he said.”
INCREASING PUBLIC POWER TO INCREASE COMPETITION: A FOUNDATION FOR AN INCLUSIVE ECONOMY
ISSUE BRIEF BY WILLIAM DARITY JR., DARRICK HAMILTON, AND RAKEEN MABUD
The United States needs an economy grounded in justice and morality, where everyone, free of undue resource constraints, can prosper. To achieve this, citizens ought to have universal access to undeniable economic rights, such as the right to employment, medical and health care, high quality education, sound banking and financial services, or a meaningful endowment at birth (Paul, Darity, Hamilton 2018). Currently, our system provides these rights primarily through the “free market” by private providers, but these private companies often fail to meet the following criteria:
• Quantity: Are goods adequately supplied?
• Quality: Are the goods high quality?
• Access: Do people have adequate access to these goods?
Because of the failure of America’s markets-first approach to policy, the federal government should intervene by introducing public options that provide these essential goods and services in direct competition with private firms. Doing so will set “floors” on wages and quality and “ceilings” on price for private actors who are intent on providing important economic rights at a cost. In employment, this might mean providing a federal jobs guarantee (FJG); in financial services, this could mean access to bank accounts and safe, nonpredatory loans. Throughout this issue brief, we explore what public options might look like in employment, health, housing, education, and financial services. We argue that in these sectors, public options are necessary to combat high-cost, low-quality provision by private actors and ensure universal and better quality access to all Americans.
Full Report here. https://rooseveltinstitute.org/wp-content/uploads/2019/04/RI_Increasing-Public-Power-to-Increase-Competition-brief-201905.pdf
CREATIVE COMMONS COPYRIGHT 2019 | ROOSEVELTINSTITUTE.ORG
The report features the work of OUR COMMON GROUND Voices, Drs. William “Sandy” Darity and Darrick Hamilton
“Credit reports and scores directly impact Americans’ economic security and opportunity. Credit history can affect the way Americans are treated by lenders, landlords, utility companies, hospitals and employers. Having a poor credit history or a “thin file” with insufficient credit information to generate a credit score can mean a consumer will end up paying more for loans and insurance (or have trouble even getting them in the first place). Misuses of credit history are prevalent and harmful: Job seekers can be denied work based on their credit history, and the Trump administration has even proposed using credit history to determine whether immigrants should be eligible for permanent residency. Most harmfully, our credit system is built on—and continues to reinforce and expand—deep racial inequities. Generations of discrimination in employment, lending, education and housing have produced significant racial disparities in credit history. Past discrimination is baked into current determinations of creditworthiness: Credit scores and other lending algorithms disproportionately represent black and Latino loan applicants as “riskier” customers. As a result, decisions drawing on credit data reproduce and spread existing racial inequality, making it harder to achieve true economic equity.”
Today there are just 45,000 African American farmers. One man is fighting to save them.
To understand racism in America, one must first disabuse themselves of the idea that race is a social construct—an idea that has been created and accepted by the people in a society.
“At the heart of Edward Baptist’s The Half Has Never Been Told is the claim that the profits and accumulations of slavery contributed to the formation of contemporary capitalism. Like Beckert, he turns to the history of the cotton industry, though he focuses on the United States from the colonial era to the end of the Civil War. Yet if Beckert’s story is the world the slave owners made, Baptist’s is the world made by the slave. “Enslaved African Americans built the modern United States,” he declares, “and indeed the entire modern world, in ways both obvious and hidden.” We know the claim that enslaved African Americans built the modern United States is not new. This “half” has, in fact, been told—multiple times and more often than not by black writers, some of whom are fleetingly mentioned in Baptist’s footnotes. But the claim that African Americans built the world is simply wrong. Baptist’s book is marked by such rhetorical excesses, which lend themselves to a blinkered and narcissistic American exceptionalism. The result is an oversimplified view of capitalism and slavery that ignores the historical contributions to modernity of Africans in the Caribbean and in Africa itself.”
The deep and persistent racial wealth divide will not close without bold, structural reform. It has been created and held in place by public policies that have evolved with time including slavery, Jim Crow, red lining, mass incarceration, among many others. The racial wealth divide is greater today than it was nearly four decades ago and trends point to its continued widening.