The Racial Wealth Divide
The Racial Wealth DivideDedrick Asante-MuhammadChief of Race, Wealth and CommunityNational Community Reinvestment Coalition
Racial Wealth Divide asThe Foundation of Racial Inequality“The foundation of racial inequality is racialized economic inequality and thefoundation of economic inequality is wealth inequality.” Race and Economics in the US:Racial Inequality has always had economic inequality at its foundation.
“The majority of whiteAmericans considerthemselves sincerelycommitted to justice forthe Negro. Theybelieve that AmericanSociety is essentiallyhospitable to fair playand to steady growthtoward a middle-classutopia, embodyingracial harmony. Butunfortunately this is afantasy of selfdeception andcomfortable vanity.”–Dr. Martin LutherKing JRNarratives Shape OurUnderstanding of RealityThe MYTH:The TRUTH:There is a system that works,and communities of color aredoing something wrongOur economy is designed toreward the wealthy and leaveothers behindIn their financesAn upside down tax systemOn the jobResidential economicsegregationPersonaldecisionsLack of investment indisenfranchised communities
The Growing Racial WealthDivide
Income and WealthEducation & Wealth
The Negative Feedback Loop of Black Asset PovertyLACK OF HOUSEHOLDASSETSGREATER FINANCIALRESPONSIBILITIESDebts, pent-up demand & need forfinancial support from family &community means increased incomego toward consumption then57% of Blacks are in liquid assetpoverty. (Do not have enoughliquid savings to replace income atthe poverty level for 3 months)Median household income is 36,651.asset developmentSEGREGATED FROMSOCIO-ECONOMICOPPORTUNITY:Living wage jobs and socialnetworks are located outside ofthe communities asset-poor Blackslive in.INFERIOR PUBLICASSETSBlack communities most often livein areas with inferior public assets:public schools, public safety, publichealth, public transportationINFERIOR SERVICEFROM THE MARKET:Products sold in communities ofasset poverty are inferior and oftentimes more expensive than similarproducts available to high incomecommunities.6
Categories of AssetsHousing: Housing is an asset that helps one secure, capitalize and save. Housing should provide a safeand supportive place for a household to reside. Housing is most often at the center of all other forms ofassets .EmploymentChildcareIncomeEducationFamily/Social RelationLegalFood SecurityHealth CareCommuniy ResourcesTransportationCommunity InvolvementFinance and Financial ResourcesSaftey
Need a multifaceted approach, a betterunderstanding of wealth and economicdevelopment, and a progressive economyto address racial wealth divide.1.2.3.4.5.6.7.8.9.10.Baby BondsGuaranteed Employment & a Higher Minimum WageInvest in Affordable HousingMedicare for AllPostal BankingRaise Taxes on the Ultra - WealthyTurn Upside Down Tax Expenditures Right Side UpCongressional Committee on ReparationsImprove Data Collection on Race and WealthRacial Wealth AnalysisThe Freedom Budget: Abolition of poverty; Full employment; Fullproduction / high economic growth; Adequate minimum wage; Farmincome parity; Guaranteed income for those who can’t work; Decent homesfor all; Modern health services for all; Full educational opportunity for all;Better social security and welfare; and Equitable tax and money policies
Local Learnings: Racial economic inequality is largethroughout cities regardless of sizeor strength of the economy There is very little in shared bestpractices to address racialeconomic inequality A comprehensive and long termapproach is necessary forcommunity economicdevelopment that address racialeconomic inequality
6 Steps to Addressing Racial Economic Inequality atthe Local Level1. recognize the racial economic divide within the organizations and institutions that are supposed toaddress economic insecurity2. organize a cohort of institutions of color who through coalition can strengthen advocacy andprogrammatic work3. develop a project that will keep these institutions of color engaged4. strengthen and share understanding of racial economic inequality and the challenges of financialsecurity for communities of color5. use research of racial economic inequality to attract local resources to address the deep economicinsecurity in communities of color including strengthening institutions of color6. integrate the goals of addressing racial economic inequality and strengthening institutions of colorinto the non-profit community, business leaders and associations, city leaders and agencies,foundations, and community leaders and InstitutionsRacial economic inequality is never addressed unless it is explicitly addressed.
STAY CONNECTEDBridging the Racial Wealth ty.org/topics/racial-wealth-dividencrc.org
SOCIO-ECONOMIC OPPORTUNITY: Living wage jobs and social . understanding of wealth and economic development, and a progressive economy to address racial wealth divide. . 1. recognize the racial economic divide withi
May 02, 2018 · D. Program Evaluation ͟The organization has provided a description of the framework for how each program will be evaluated. The framework should include all the elements below: ͟The evaluation methods are cost-effective for the organization ͟Quantitative and qualitative data is being collected (at Basics tier, data collection must have begun)
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and historical racial gaps in wealth, income, entrepreneurship, mobility, and beliefs about risky returns. We explore how the future trajectory of the racial wealth gap might change in response to various policies. Wealth transfers to all Black dynasties that eliminate the average wealth gap today do not lead to long-run wealth convergence.
Chính Văn.- Còn đức Thế tôn thì tuệ giác cực kỳ trong sạch 8: hiện hành bất nhị 9, đạt đến vô tướng 10, đứng vào chỗ đứng của các đức Thế tôn 11, thể hiện tính bình đẳng của các Ngài, đến chỗ không còn chướng ngại 12, giáo pháp không thể khuynh đảo, tâm thức không bị cản trở, cái được
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