Fixing systemic racism: 19 Black economists you should know about | Fortune

 

As the world grapples with uprooting systemic racism—a conversation catapulted into collective consciousness by the death of George Floyd—it is imperative that Black economists become household names. Their work will move us through the current moment to enable a long-lasting future that upends the oppression in the Black community that subsequently harms the economic system at large.

Economics—a discipline whose core focus is exploring who gets what, where, when, and why—is of great interest to Black people, who too often find themselves on the wrong side of America’s divides in wealth and income. But they’ve faced barriers in matriculating into the profession, as Lisa Cook and Anna Gifty Opoku Agyeman noted in their recent New York Times article, “It Was a Mistake For Me To Choose This Field.” The most recent data, from 2017, show that only 3.2% of doctoral degrees in economics are awarded to Black people each year. More than 52% of Black economists experience racism and/or discrimination, according to a 2019 report by the American Economics Association, and less than half of one percent of all top economics papers across a 30-year-period explicitly address race/ethnicity.

Nearly 100 years have passed, and not much has changed, since America’s first Black economist, Dr. Sadie T.M. Alexander, obtained her PhD from the University of Pennsylvania in 1921. She aimed to champion economic inclusion and justice, despite being denied the ability to practice as an economist in the pre-Civil Rights era. Even though she was deliberately excluded from the profession, she continued to use her economic expertise to recommend better policies for the working class such as the federal jobs guarantee, a concept embraced by President Franklin D. Roosevelt that has been a foundational concept in progressive politics ever since.

Scholars Julianne Malveaux and Nina Banks have been committed to unearthing Alexander’s legacy through her speeches. Her passion for using economics to serve marginalized voices through policy is a common thread that connects the earliest work of Black economists as well as current scholars in the field. Phyllis Ann Wallace, the first woman to receive doctorate of economics at Yale University, focused on racial, as well as gender discrimination in the workplace. Abram Lincoln Harris, who published major economic studies in the 1920s and 1930s, made it a point to focus on “class analysis, black economic life, and labor to illustrate the structural inadequacies of race and racial ideologies.”

To turn the tide against blatant exclusion in their field, today’s Black economists have been keen on supporting pipeline efforts through a variety of organizations including The National Economic Association, the American Economic Association, the Committee on the Status of Minorities in the Economics Profession (CSMGEP), the Women’s Institute for Science, Equity and Research, and The Sadie Collective.

The list presented here, on Juneteenth, serves as a means to center and celebrate the work of Black economic experts across various specializations—both emerging and well-established. Their research and policy analysis should inform public discourse not only on how to improve the Black community’s reality, but in turn to make policy that is better for everyone. Please note: This list is certainly not exhaustive.

Each economist’s name is followed by their main area of specialization, in parentheses.

Juneteenth-Black Economists-Dania Francis

Bryan Frank

Dania Francis (Education) is a professor at the University of Massachusetts, Amherst whose work spans from the implications of educational outcomes for Black females based on the perceptions of Black girls in the classroom to economic reparations for African Americans. Her research interests include labor economics, public finance, economics of education, and racial and ethnic economic disparities.

Juneteenth-Black Economists-Peter Blair

Courtesy of Brown Dog Studio

Peter Q. Blair (Education and the Future of Work) is on the faculty in the Graduate School of Education at Harvard University, where he co-directs the Project on Workforce. He serves as a faculty research fellow of the National Bureau of Economic Research (NBER) and the Principal Investigator of the BE-Lab, a research group with partners from Harvard University, Clemson University, and University of Illinois Urbana-Champaign. His group’s research focuses on the link between the future of work and the future of education, labor market discrimination, occupational licensing, and residential segregation.

Juneteenth-Black Economists-Williams-Jhacova Williams

EPI

Jhacova Williams (Race and Inequality) is an economist for the Economic Policy Institute’s Program on Race, Ethnicity, and the Economy (PREE). In this capacity, she explores the role of structural racism in shaping racial economic disparities in labor markets, housing, criminal justice, higher education, and other areas that have a direct impact on economic outcomes. Williams’s research has focused on Southern culture and the extent to which historical events continue to impact the political behavior and economic outcomes of Southern Blacks.

Juneteenth-Black Economists-Kristen Broady

Courtesy of Kristen Broady

Kristen Broady (Race and Inequality) is the dean of the College of Business and Barron Hilton Endowed Professor of Financial Economics at Dillard University. She is also the proprietor of KBroad Consulting. Her most recent publications include “Passing and the Costs and Benefits of Appropriating Blackness,” “Dreaming and Doing at Georgia HBCUs: Continued Relevancy in Post Racial America” and “Race and Jobs at High Risk to Automation.”

Juneteenth-Black Economists-WILLIAM DARITY

Justin Cook for The Wall Street Journal

William Darity, Jr.(Race and Inequality) is the Samuel DuBois Cook Professor of Public Policy, African and African American Studies, and Economics and the director of the Samuel DuBois Cook Center on Social Equity at Duke University. He has served as chair of the Department of African and African American Studies and was the founding director of the Research Network on Racial and Ethnic Inequality at Duke. With well over 300 publications, Darity launched the sub-field of stratification economics in 2005. Darity’s research focuses on inequality by race, class and ethnicity, schooling and the racial achievement gap, North-South theories of trade and development, skin shade and labor market outcomes, the economics of reparations, the Atlantic slave trade and the Industrial Revolution, the history of economics, and the social psychological effects of exposure to unemployment. His most recent book, co-authored with A. Kirsten Mullen is From Here to Equality: Reparations for Black Americans in the Twenty-First Century.

Juneteenth-Black Economists-Darrick Hamilton

Courtesy of Darrick Hamilton

Darrick Hamilton (Race and Inequality), one of the country’s leading economists examining racial disparity, will serve as the founding director of the newly created Institute for the Study of Race, Stratification and Political Economy at The New School. His research spans the gamut from stratification economics through economic and social policy, race, ethnicity and colorism, education, health, labor, asset and debt markets and family formation. His TED Talk, with over 1.5 million views, incited much conversation during the past presidential election season about how to end inequality in America.

Juneteenth-Black Economists-Trevon Logan

Courtesy of Trevon Logan

Trevon Logan (Economic History) is the Hazel C. Youngberg Trustees Distinguished Professor in the Department of Economics at The Ohio State University. As the youngest president of the National Economic Association to date, he specializes in economic history and applied demography. He obtained his PhD in Economics from the University of California, Berkeley.

Juneteenth-Black Economists-Willene Johnson

Courtesy of Willene Johnson

Willene Johnson (International Economics) is president of Komaza, Inc., a consulting firm that offers instruction and advice on economic and financial development, including microfinance, security sector resource management, and the role of economics in conflict management. Johnson has worked extensively in Africa, where she was first a volunteer teacher and more recently the U.S. executive director at the African Development Bank. She worked for twenty years in the Federal Reserve System, where her assignments included both research and operational responsibilities in international financial markets.

Juneteenth-Black Economists-Peter Blair Henry

Courtesy of NYU Leonard N. Stern School of Business

Peter Blair Henry (International Economics) is a former dean of New York University’s Leonard N. Stern School of Business, where he is now the William R. Berkley Professor of Economics and Business. He’s the author of TURNAROUND: Third World Lessons for First World Growth. His research interests include international finance, emerging markets, international economic policy, globalization & trade, and macroeconomics.

Juneteenth-Black Economists-Susan Collins

Austin Thomaso/Michigan Photography

Susan Collins (International Economics) is the interim vice provost at the University of Michigan. She joined the Michigan faculty in 2007, serving as the Joan and Sanford Weill Dean of the Gerald R. Ford School of Public Policy until 2017. Before coming to Michigan, she was on the economics faculty at Georgetown University and Harvard University, and a senior fellow at the Brookings Institution (where she retains a nonresident affiliation). She is an international economist whose research interests center on understanding and fostering economic growth in industrial, emerging market, and developing countries.

Juneteenth-Black Economists-Sandile Hlatshwayo

Courtesy of Sandile Hlatshwayo

Sandile Hlatshwayo (International Economics) has research interests in the areas of international trade, international finance, and macroeconomics. She is an economist at the International Monetary Fund, where she helps identify and evaluate global risks through predictive modeling, text-based analytics, and strategic foresight tools (e.g., scenario planning). She also sits on the board of Black Professionals in International Affairs and serves as an inaugural member of the American Economic Association’s Committee on the Status of LGBTQ+ Individuals in the Economics Profession.

Juneteenth-Black Economists-ebonya washington

Michael Marsland

Ebonya Washington (Public Finance), a professor at Yale University, specializes in political economy. Her work explores the formation of political attitudes and how marginalized populations use the political system to attain economic needs. In a recent paper she turns her lens on her own profession, asking what economists can do to increase racial and ethnic diversity in their ranks.

Juneteenth-Black Economists-Damon Jones

Courtesy of University of Chicago

Damon Jones (Public Finance) is an associate professor at the University of Chicago Harris School of Public Policy. He conducts research at the intersection of three fields—public finance, household finance, and behavioral economics—and focuses on topics of inequality. He was a post doctoral fellow at the Stanford Institute for Economic Policy Research (2009–2010) and is a Faculty Research Fellow at the National Bureau of Economic Research.

Courtesy of Julianne Malveaux

Julianne Malveaux (Public Finance) has long been recognized for her progressive and insightful observations. As a labor economist, Malveaux has been described by Cornel West as “the most iconoclastic public intellectual in the country.” Her contributions to the public dialogue on issues such as race, culture, gender, and their economic impacts are shaping public opinion in 21st century America. She is the 15th president of the historically Black all women’s school Bennett College. Her notable works include writings on race, class, and Black women’s economics.

Juneteenth-Black Economists-William Spriggs

Courtesy of William Spriggs

William Spriggs (Labor Economics) is the former assistant secretary for the Office of Policy at the U.S. Department of Labor. He currently serves as the chief economist to the AFL-CIO and has been professor of economics at Howard University since 2012. Spriggs’s economic expertise lies in workforce issues, labor, tax and public policy. Prior to his position at AFL-CIO, he led economic policy development at several think tanks such as the Economic Policy Institute and the National Urban League. He has also held roles at the Department of Commerce, the Small Business Administration and the Economic Committee of the U.S. Congress.

Juneteenth-Black Economists-Ellora Derenoncourt

JM Photo

Ellora Derenoncourt (Labor Economics) is an economist with research interests in labor economics, economic history, and inequality. She is currently a postdoctoral research associate in the Industrial Relations Section in the Department of Economics at Princeton University. In July 2020, she will join the University of California, Berkeley, as an assistant professor in the Department of Economics and the Goldman School of Public Policy.

Juneteenth-Black Economists-Michelle Holder

Courtesy of John Jay College City University of New York

Michelle Holder (Labor Economics) is an assistant professor of Economics at John Jay College, City University of New York. Prior to joining the John Jay faculty, she worked as an economist for a decade in both the nonprofit and government sectors. Her research focuses on blacks and women in the American labor market, and her economic policy reports have been covered by the New York Times, the Wall Street Journal, the New York Amsterdam News, and El Diario. Her first book, African American Men and the Labor Market during the Great Recession, was released in 2017.

Juneteenth-Black Economists-Valerie Wilson-EPI

Valerie Wilson (Labor Economics) is the director of the Economic Policy Institute’s Program on Race, Ethnicity, and the Economy (PREE), a nationally recognized source for expert reports and policy analyses on the economic condition of America’s people of color. Prior to joining EPI, Wilson was an economist and vice president of research at the National Urban League Washington Bureau. She has written extensively on various issues impacting economic inequality in the United States—including employment and training, income and wealth disparities, access to higher education, and social insurance.

Juneteenth-Black Economists-Dr. Lisa Cook

Courtesy of Dr. Lisa Cook

Lisa Cook (Macroeconomics) is a professor in the Department of Economics and in International Relations at Michigan State University. Among her current research interests are economic growth and development, financial institutions and markets, innovation, and economic history. She was a National Fellow at Stanford University and served in the White House as a Senior Economist at the Council of Economic Advisers under President Obama. She also served as President of the National Economic Association and is currently Director of the American Economic Association Summer Program.

Fanta Traore is an MPP and MBA candidate at Yale University. She co-founded the Sadie Collective, which addresses the underrepresentation of Black women in economics and related fields. Follow her on Twitter and Instagram @TheFantaTraore.

Proud to note that of these 5 are OUR COMMON GROUND Voices (guest on our broadcast).

Drs. Lisa Cook,William Darity, Darrick Hamilton,Peter Blair Henry, Willene Johnson and William Spriggs.

 

Source: Fixing systemic racism: 19 Black economists you should know about | Fortune

Economic Mobility For African Americans May Be A Myth l Pew Report Finding

Economic Mobility For African Americans May Be A Myth, Pew Report Shows

The Huffington Post  |  By  Posted: 07/17/2012

Economic Mobility

The fine line between the American Dream and the African-American Dream is becoming more distinct, according to a recent report by the Pew Charitable Trusts, a nonprofit research organization.

The survey of economic mobility across generations compared the income and wealth of Americans with that of their parents at the same age, and it offered a promising outlook for most Americans — 84 percent to be exact — who were shown to have higher incomes than their parents, when adjusted for inflation.

African Americans, however, haven’t had the same success, with just 23 percent of blacks raised in the middle class surpassing their parents’ family wealth, compared to 56 percent of whites.

The study’s project manager, Erin Currier, said the results aren’t far off from what a simliar 2008 survey found. “With this newest update to the data, we can see that not much has changed with a few more years of data added in,” Currier told The Huffington Post. “Specifically, African Americans are much more likely than whites to be stuck at the bottom of the income ladder over a generation, and also at the bottom of the wealth ladder,” she said. They’re also more likely to fall from the middle.

Currier and her team analyzed income data over five years from the University of Michigan’s Panel Study of Income Dynamics (PSID), a nationally representative sample of more than 18,000 individuals living in 5,000 families in the United States. During the years they chose — 1967, ’68, ’69, ’70 and ’71 for the parents; 2000, ’02, ’04, ’06 and ’08 for their kids — both groups were at a common age (in their early to mid 40s) and at similar positions of marriage, income parity and post-secondary education, Currier said.

“It is the case that African-American families manage to get to the middle class and they have some sense of economic security, but their ability to pass that on to their kids is not as high as the white families,” she said.

And while this particular study didn’t delve into specific reasons for this gap, Currier pointed to previous research showing the impact neighborhood poverty has had on maintaining wealth disparities over time. “Two thirds of African-American children born between 1985 and 2000 are being raised in high poverty neighborhoods,” compared to just six percent of white children, Currier noted, proportions that haven’t shifted much over the last 30 years. “It isn’t the case that two thirds of African-American families are poor, but a lot of even middle-class African-American families are living in high poverty neighborhoods and research shows that, that environment in childhood increases a person’s chance of downward mobility by 52 percent,” she added.

A study published in May by the National Bureau of Economic Research may have hinted at one of the barriers to moving out of those poverty-stricken neighborhoods, revealing that black and Hispanic homebuyers pay as much as 3 percent more for their homes, regardless of their income, wealth or credit profiles.

Pew research has also examined the roles that marital status andincarceration have played in the black-white economic mobility gap in recent years. Meanwhile, others have looked at the roles of higher education and even differences by region. (Those with a college degree and those who live in the Northeast U.S. have a higher chance of moving up, researchers say.)

Since 2006, Currier and her team have set out to examine the health and status of the American Dream, which she says is more than a cliche, but rather a part of our national fabric based on the notion that your children can do better than you did.

“Our research shows a pretty mixed view of the degree to which that’s true,” she said. “On one hand, there has been significant economic growth over the last generation, [wealth that] has been broadly, equally shared. But at the same time, we see some lack of movement on the ladder as a whole.” So even though Gen Xers may have greater incomes than their parents did within a certain income bracket, they may not make enough to move to the next bracket up, Currier explained.

That finding contradicts what is said to be the crux of the American Dream, that all Americans have equality of opportunity regardless of their economic status at birth.

“A defining factor of the American dream is that a person’s family background or income has no bearing on where he or she ends up, but the study shows otherwise,” Currier said in an interview with the Poughkeepsie Journal.