INCREASING PUBLIC POWER TO INCREASE COMPETITION: A FOUNDATION FOR AN INCLUSIVE ECONOMY

INCREASING PUBLIC POWER TO INCREASE COMPETITION:  A FOUNDATION FOR AN INCLUSIVE ECONOMY

ISSUE BRIEF BY WILLIAM DARITY JR., DARRICK HAMILTON, AND RAKEEN MABUD
MAY 2019

Executive Summary

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

Darity Hamilton

11 Warning Signs of Gaslighting | Psychology Today

  

“Gaslighting is a tactic in which a person or entity, in order to gain more power, makes a victim question their reality. It works much better than you may think. Anyone is susceptible to gaslighting, and it is a common technique of abusers, dictators, narcissists, and cult leaders. It is done slowly, so the victim doesn’t realize how much they’ve been brainwashed.”

What is the price that a people pay for 400 years of “gaslighting”. Personal engagement, cruel punishment without question, severe poverty, newspapers, government policy, TV, media, music . . . . ?

Source: 11 Warning Signs of Gaslighting | Psychology Today

Cornel West and the Intellectual Dishonesty of the ADOS Movement

 

Cornel West recently expressed support for the ADOS movement . . . not surprising… Martin Luther King, whom West has written about, was not a Pan-Africanist, but he clearly saw the connection between the African struggle for freedom and the African American struggle for freedom. King said:

The masses of people are rising up. And wherever they are assembled today, whether they are in Johannesburg, South Africa; Nairobi, Kenya; Accra, Ghana; New York City; Atlanta, Georgia; Jackson, Mississippi; or Memphis, Tennessee — the cry is always the same: “We want to be free.”

In embracing ADOS, West is embracing the opposite of King’s vision.

Source: Cornel West and the Intellectual Dishonesty of the ADOS Movement

The Cases For Reparations: How 2020 Presidential Candidates Address The Issue | On Point

Democratic presidential hopefuls are talking about reparations for slavery. They’re talking seriously, but with few specifics. What would a reparations policy actually look like?

Source: The Cases For Reparations: How 2020 Presidential Candidates Address The Issue | On Point

America’s Moral Debt To African Americans l Smithsonian.com

America’s Moral Debt To African Americans

SLAVERY
 As a historian, I know slavery has left a deep scar on America. The reasons are many. I have found wisdom in the words of Cornelius Holmes, a former slave, interviewed in 1939, a man who saw brutality and separation of families. Holmes shared the dreams and melodies before freedom and then witnessed the reality of freedom.

One reason for my current retrospection is the fine essay by Ta-Nehisi Coates in the June issue of the Atlantic arguing that reparations are deserved and long overdue. He has gathered an amazing array of facts about racism, economics, violence and the role of the U.S. government, implicit and explicit. With pinpoint clarity, Coates has focused a scholarly light that shines into all the dark corners of this shameful chapter in our history.

Read the whole story at Smithsonian.com

Print Article

 

OCG Reparations Page

The Economics of Reparations: Why Congress Should Meet Ta-Nehisi Coates’s Modest Demand

MAY 21, 2014

The Economics of Reparations: Why Congress Should Meet Ta-Nehisi Coates’s Modest Demand

By  @dannyvinik

IIn the newest issue of The Atlantic, Ta-Nehisi Coates makes the case for slavery reparations. “The idea of reparations is frightening not simply because we might lack the ability to pay,” Coates writes. “The idea of reparations threatens something much deeper—America’s heritage, history, and standing in the world.” The piece is provocative, but short on details: It doesn’t put a number to what black Americans are owed, and it doesn’t provide a specific prescription for how to make reparations. Rather, Coates simply recommends that Congress passRepresentative John Conyers’s bill for a “Congressional study of slavery.”

But now that Coates has re-ignited this debate, it’s worth considering the practical implications. How much money, for instance, is due to black America? How should that money be distributed? Who should be eligible for it? Perhaps those are questions that a Congressional study could answer. What academic evidence we have provides an incomplete but sobering assessment of the costs of centuries of slavery, Jim Crow, and state-sanctioned discrimination.

How much should reparations be?

As Coates explains in his piece, reparations must compensate African Americans for more than just the centuries of slavery in the United States. After slavery was abolished, whites frequently lynched black Americans and seized their property. A 2001 Associated Press investigation, which Coates cites, found 406 cases where black landowners had their farms seized in the early-to-mid 20th century—more than 24,000 acres of land were stolen. Housing discrimination, which has been one of the largest obstacles to African Americans’ building wealth, still exists today.

Larry Neal, an economist at the University of Illinois, calculated the difference between the wages that slaves would have received from 1620 to 1840, minus estimated maintenance costs spent by slave owners, and reached a total of $1.4 trillion in 1983 dollars. At an annual rate of interest of 5 percent, that’s more than $6.5 trillion in 2014—just in lost wages. In a separate estimate in 1983, James Marketti calculated it at $2.1 trillion, equal to $10 trillion today. In 1989, economists Bernadette Chachere and Gerald Udinsky estimated that labor market discrimination between 1929 and 1969 cost black Americans $1.6 trillion.

These estimates don’t include the physical harms of slavery, lost educational and wealth-building opportunities, or the cost of the discrimination that persists today. But it’s clear the magnitude of reparations would be in the trillions of dollars. For perspective, the federal government last year spent $3.5 trillion and GDP was $16.6 trillion.

 

What form should reparations take?

In a 2005 article, economists William A. Darity Jr. and Dania Frank proposed five different ways to make reparations. The first approach is lump-sum payments. This is the most direct form of reparations, but it does not correct for the decades of lost human capital. The second is to aggregate the reparation funds and allow African Americans to apply for grants for different asset-building projects. These projects could promote homeownership or education, for instance. Under this thinking, reparations should be more than one-time payments, but should build the human and wealth capital that black Americans struggled to gain over the past few centuries.

A third approach would be to give vouchers for a certain monetary value to black Americans. This mirrors the goal of the second approach, but with a focus on building financial assets. “Thus reparations could function as an avenue to undertake a racial redistribution of wealth akin to the mechanism used in Malaysia to build corporate ownership among the native Malays,” Darity and Frank write. “In that case, shares of stock were purchased by the state and placed in a trust for subsequent allocation to the native Malays.”

Fourth, the government could give African Americans in-kind reparations—free medical insurance or guaranteed college education, for instance. Finally, the fifth approach “would be to use reparations to build entirely new institutions to promote collective well-being in the black community.” Darity and Frank don’t elaborate on the potential structure for those institutions. Congress could also combine any or all of these approaches.

Who should be eligible to collect reparations?

READ THE FULL ARTICLE

OCG Read Recommendation: ” Dry Bones” Screenplay by Deadria Farmer-Paellmann

Dry Bones – A Screenplay Based on a True Story

eBook (PDF), 108 Pages
An 18th Century burial ground is discovered on modern-day Wall Street filled with the bones of enslaved Africans. A young woman wages a cutthroat battle to unearth the role that corporations played in slavery and to make them pay. Inspired by a true story. Winner of the Women In Film and Video of New England Screenwriters Award, Finalist in the Beverly Hills Film Festival Screenwriters Competition

Formats for this Ebook

PDF
Required Software Any PDF Reader, Apple Preview
Supported Devices Windows PC/PocketPC, Mac OS, Linux OS, Apple iPhone/iPod Touch… (See More)
# of Devices Unlimited
Flowing Text / Pages Pages
Printable? Yes

Buy ebook HERE

About Deadria Farmer-Paellmann

Author Image

Deadria Farmer-Paellmann is a legal strategist and human rights advocate. In 2002, she filed a landmark class action lawsuit for slavery reparations against blue-chip corporations.

Farmer-Paellmann is credited with popularizing the slavery reparations movement through her groundbreaking research exposing corporate complicity in slavery. In January of 2000, she exposed Aetna Incorporated for writing insurance policies on the lives of enslaved Africans with slaveholders as the beneficiaries in the 1800’s. Her research linking JP Morgan Chase/Bank One to slavery led to the company making a public apology in January 2005, and committing to pay $5 million in reparations over the next five years in college scholarships to slave descendants residing in Louisiana.

She earned her B.A. in Political Science at the CUNY Brooklyn College in 1988; her M.A. in Lobbying from The George Washington University in 1995; and her J.D. from New England School of Law in 1999.