Browse posts tag by economic inequality

RACIAL BARRIERS OF ECONOMIC OPPORTUNITY

October 15, 2020 By dwayman

In a compelling move by the Business Roundtable, leaders in major corporations are recognizing, accepting, and taking action to bring justice into the lives of all people, particularly those who have been hindered from economic growth.

Graphically exploring the reality between People of Color and those who are white the evidence speaks volumes for the underlying injustice of the economic systems of the United States:

“Despite some significant strides over the generations, the events of 2020 have illustrated how far we still have to go to ensure that every person can fully realize opportunity and justice in America.

As some of the country’s largest employers, Business Roundtable CEOs believe they have a role to play in driving real change. On June 5, 2020, Business Roundtable Chairman Doug McMillon of Walmart established a Special Committee of the Board to identify meaningful steps Business Roundtable companies can take to advance racial equity and justice. On July 1, 2020, the Special Committee outlined proposals for federal policing reform legislation and launched an effort to persuade Congress to pass a bipartisan bill.”

(Graphs Omitted)

These Chief Executive Officers of major US companies have gone on record with these encouraging statements:

CEO PERSPECTIVES ON RACIAL EQUITY & JUSTICE

“The racial inequities that exist for many Americans of color are real and deeply rooted. These longstanding systemic challenges have far too often prevented access to the benefits of economic growth and mobility for far too many,

WHITES HAVE HUGE WEALTH EDGE OVER BLACKS (but Don’t Know It)

November 5, 2017 By

The economic inequality between white and black families is not only a grave injustice but it is not perceived by the whites.  Here is an article in the NY Times that says in part:

Psychologists at Yale recently asked hundreds of Americans these two questions:

For every $100 earned by an average white family, how much do you think is earned by an average black family?

$0-$25 – $26-$50 – $51-$75 – $76-$100 – $100+

For every $100 in wealth accumulated by an average white family, how much wealth has the average black family accumulated?

$0-$25 – $26-$50 – $51-$75 – $76-$100 – $100+

The Yale researchers suspected that many people would not get the answers right.

“I’m a person who studies inequality, who should really know how inequality looks,” said one of the psychologists, Michael Kraus, who researches the behaviors and beliefs that help perpetuate inequality. “And I look at the black-white gap, and I’m shocked at the magnitude.”

Black families in America earn just $57.30 for every $100 in income earned by white families, according to the Census Bureau’s Current Population Survey. For every $100 in white family wealth, black families hold just $5.04.

If Mr. Kraus, of all people, is taken aback by these numbers, what are the odds that most Americans have a good understanding of them? The answer, he and his colleagues fear,