Overdue reparations is the key to closing the racial wealth gap II Dr. William “Sandy”Darity

Overdue reparations is the key to closing the racial wealth gap

Dr. William Darity‘s congressional testimony lays a path to fix historic inequity that produces unequal outcomes for blacks

Dr. Willliam “Sandy” Darity, Samuel DuBois Cook Center on Social Equity at Duke University.

The case for black reparations must be anchored on three phases of grievous injustice inflicted upon enslaved blacks and their descendants. First is the atrocity of slavery itself.

The case for black reparations must be anchored on three phases of grievous injustice inflicted upon enslaved blacks and their descendants. First is the atrocity of slavery itself. Second are the atrocities exercised during the nearly century-long period of legal segregation in the U.S. (the “Jim Crow” era). Third are the legacy effects of slavery and Jim Crow, compounded by ongoing racism manifest in persistent health disparities, labor market discrimination, mass incarceration, police executions of unarmed blacks (de facto lynchings), black voter suppression, and the general deprivation of equal well-being with all Americans. Therefore, it is a misnomer to refer to “slavery reparations,” since black reparations must encompass the harms imposed throughout American history to the present moment — both slavery and post-slavery, both Jim Crow and post-Jim Crow — on black descendants of American slavery. It is precisely that unique community that should be the recipients of reparations: black American descendants of persons enslaved in the U.S.

Second are the atrocities exercised during the nearly century-long period of legal segregation in the U.S. (the “Jim Crow” era).

In a 2003 article written with Dania Frank Francis, and, more recently, in work written with Kirsten Mullen, we have proposed two criteria for eligibility for black reparations. First, an individual must demonstrate that they have at least one ancestor who was enslaved in the U.S. Second, an individual must demonstrate that for at least 10 years prior to the onset of the reparations program or the formation of the study commission, whichever comes first, they self-identified as black, Negro or African-American. The first criterion will require genealogical documentation — but absolutely no phenotype, ideology or DNA tests. The second criterion will require presentation of a suitable state or federal legal document that the person declared themselves to be black.

iStockphoto.

… it is a misnomer to refer to “slavery reparations,” since black reparations must encompass the harms imposed throughout American history to the present moment

I also recommend, like the Commission on Wartime Relocation and Internment of Civilians, the commission on reparations proposals commission should be appointed exclusively by the Congress. The commission appointees should be experts in American history, Constitutional law, economics (including stratification economics), political science and sociology. These appointees must have expert knowledge on the history of slavery and Jim Crow, employment discrimination, wealth inequality, health disparities, unequal educational opportunities, criminal justice and mass incarceration, media, political participation and exclusion, and housing inequities. The commission also should include appointees with detailed knowledge about the design and administration of prior reparations programs as guidelines for structuring a comprehensive reparations program for native black Americans.

Where do we go from here?

What would it take to bridge the black-white wealth gap?
A Q & A with Duke University economist William ‘Sandy’ Darity, who has some radical—yet doable—ideas
mlk50.com
Reparations well-intentioned, but insufficient for the debt owed
City of Memphis gives $50,000 each to the 14 living black sanitation workers from the 1968 strike
mlk50.com
The Loebs : Exploited black labor and inherited white wealth
Penny-pinching Loeb ancestors kept wages flat for 25 years as black laundresses did “miserable” work
mlk50.com

Source: Overdue reparations is the key to closing the racial wealth gap

Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership : Keeanga-Yamahtta Taylor

Recommended Reading: Keeanga-Yamahtta Taylor

(Justice, Power, and Politics reading)

By the late 1960s and early 1970s, reeling from a wave of urban uprisings, politicians finally worked to end the practice of redlining. Reasoning that the turbulence could be calmed by turning Black city-dwellers into homeowners, they passed the Housing and Urban Development Act of 1968, and set about establishing policies to induce mortgage lenders and the real estate industry to treat Black homebuyers equally. The disaster that ensued revealed that racist exclusion had not been eradicated, but rather transmuted into a new phenomenon of predatory inclusion.

Race for Profit uncovers how exploitative real estate practices continued well after housing discrimination was banned. The same racist structures and individuals remained intact after redlining’s end, and close relationships between regulators and the industry created incentives to ignore improprieties. Meanwhile, new policies meant to encourage low-income homeownership created new methods to exploit Black homeowners. The federal government guaranteed urban mortgages in an attempt to overcome resistance to lending to Black buyers – as if unprofitability, rather than racism, was the cause of housing segregation. Bankers, investors, and real estate agents took advantage of the perverse incentives, targeting the Black women most likely to fail to keep up their home payments and slip into foreclosure, multiplying their profits. As a result, by the end of the 1970s, the nation’s first programs to encourage Black homeownership ended with tens of thousands of foreclosures in Black communities across the country. The push to uplift Black homeownership had descended into a goldmine for realtors and mortgage lenders, and a ready-made cudgel for the champions of deregulation to wield against government intervention of any kind.

Narrating the story of a sea-change in housing policy and its dire impact on African Americans, Race for Profit reveals how the urban core was transformed into a new frontier of cynical extraction.

ABOUT Keeanga-Yamahtta Taylor @KeeangaYamahtta

Keeanga-Yamahtta Taylor is Assistant Professor of African American Studies at Princeton University. Taylor’s writing and scholarship engage issues of contemporary Black politics, the history of Black social movements and Black radicalism, and issues concerning public policy, race and racial inequality. Taylor’s writing has been published in New York Times, The Guardian, Los Angeles Times, Boston Review, The Paris Review, The New Republic, Al Jazeera America, Jacobin, In These Times, New Politics, Souls: A Critical Journal of Black Politics, Culture and Society, and beyond. Taylor is also author of the award-winning From #BlackLivesMatter to Black Liberation published by Haymarket Books in 2016. She is also author of How We Get Free: Black Feminism and the Combahee River Collective which won the 2018 Lambda Literary Award for LGBTQ Nonfiction. Taylor’s forthcoming book with the University of North Carolina Press, titled Race For Profit: How Banks and the Real Estate Industry Undermined Black Homeownership will be published in October of 2019.

Taylor received her PhD in African American Studies at Northwestern University in 2013.

We Have the Means to Fund Reparations. Where Is the Political Will?

. . . Between 1983 and 2016, the median net worth for Black Americans actually went down by 50 percent. Paired with a growing Latinx population that also lags far behind whites in household wealth, the U.S.’s overall median wealth trended downward over those decades, even as median white wealth increased.These trends go hand-in-hand with the rigging of the overall economy. Over the last 30 years, the wealthiest 20 percent of households have captured almost 97.4 percent of all increases in wealth, leaving only scraps for the rest.To repair these breaches — between Black and white, as well as between the rich and the rest — we must restore the wealth of communities that were literally used as a foundation of the nation’s wealth, while being prohibited from building their own.

As Ta-Nehisi Coates wrote in his groundbreaking case for reparations in The Atlantic, reparations are “the price we must pay to see ourselves squarely.”It won’t be an easy task. But it’s by no means insurmountable.”

Source: We Have the Means to Fund Reparations. Where Is the Political Will?

Ten Solutions to Bridge the Racial Wealth Divide – Inequality.org

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.

Source: Ten Solutions to Bridge the Racial Wealth Divide – Inequality.org