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Economics Archives - Page 2 of 10 - Institute of the Black World 21st Century

Virus Outbreak Unemployment Funds

Black Americans are bearing the brunt of coronavirus recession – this should come as no surprise

By Commentaries/Opinions, COVID-19 (Coronavirus)

When the shuttered economy reopens, how many black Americans will be left out in the cold? By William M. Rodgers III — As the COVID-19 pandemic worsened in April, many Americans were shocked by the extent that black Americans were being disproportionately impacted: higher infection rates, more deaths and greater job loss. But many black Americans were not surprised. This is not new. The same dynamic has been going on at times of…

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A fruit vendor waiting for customers during lockdown in Prayagraj, India. About 2 billion people worldwide work in the informal economy

Half of world’s workers ‘at immediate risk of losing livelihood due to coronavirus’

By COVID-19 (Coronavirus), News & Current Affairs

By Phillip Inman, The Guardian — Almost half the global workforce – 1.6 billion people – are in “immediate danger of having their livelihoods destroyed” by the economic impact of Covid-19, the International Labour Organization has warned. Of the total global working population of 3.3 billion, about 2 billion work in the “informal economy”, often on short-term contracts or self-employment, and suffered a 60% collapse in their wages in the…

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Commentary, Articles and Essays by Dr. Julianne Malveaux

What Do You Have to Lose? Your Health or Your Job

By COVID-19 (Coronavirus), Dr. Julianne Malveaux

By Dr. Julianne Malveaux — A little less than four years ago, the president tried to get Black votes with the question, “What do you have to lose.” The coronavirus offers a bleak answer. Trump was notified of the danger of the pandemic in January, but didn’t begin to address the issue until late February. Hospitals ran short on supplies like gowns, masks and tests. Governors had to ask, then…

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Homeless in NYC Subway

Inequality and the Coronavirus, Or How to Destroy American Society From the Top Down

By Commentaries/Opinions, COVID-19 (Coronavirus)

By Liz Theoharis — My mom contracted polio when she was 14. She survived and learned to walk again, but my life was deeply affected by that virus. Today, as our larger society attempts to self-distance and self-isolate, my family has texted about the polio quarantine my mom was put under: how my grandma fearfully checked my aunt’s temperature every night because she shared a bedroom with my mom; how they…

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International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., as IMF Managing Director Christine Lagarde meets with Argentine Treasury Minister Nicolas Dujovne September 4, 2018.

IMF Sees Caribbean Economy Shrinking 6.2% in 2020 Due to Pandemic

By COVID-19 (Coronavirus), News & Current Affairs

WASHINGTON (Reuters) — A sudden stop in tourism caused by border closures and lockdowns aimed at containing the coronavirus pandemic will cause a 6.2% contraction of the Caribbean economy in 2020, the deepest recession in over half a century, the IMF said on Wednesday. In a blog on its website, the International Monetary Fund warned that lost output from firms and the high costs associated with managing local outbreaks could…

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COVID-19 and the Crisis of Racial Capitalism

COVID-19 and the Crisis of Racial Capitalism

By COVID-19 (Coronavirus)

By K. Sabeel Rahman, Demos — The escalating COVID-19 pandemic impacts all of us, but for Black and brown people in particular, the combined health and economic devastation is truly terrifying. Communities of color have higher rates of asthma, less access to health care centers, are more likely to live in food deserts, and are among the most vulnerable in the face of this virus. The workers most on edge…

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Tourists wearing mask on an empty street during COVID 19 pandemic lockdown in Singapore. Bars are closed.

World Bank sees plunge in Latin America, Caribbean economies

By COVID-19 (Coronavirus), News & Current Affairs

The World Bank says that the new coronavirus pandemic could send economies tumbling by 4.6% this year across Latin America and the Caribbean, and that could force governments to take ownership stakes in struggling major businesses. By John Rice, AP — The new coronavirus pandemic could send economies tumbling by 4.6% this year across Latin America and the Caribbean, forcing governments to take ownership stakes in struggling…

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Commentary, Articles and Essays by Dr. Julianne Malveaux

City finances are hard-hit by the Coronavirus

By COVID-19 (Coronavirus), Dr. Julianne Malveaux

By Julianne Malveaux — Cities depend on density.  They depend on people milling around downtown, or at neighborhood parks, or street fairs and restaurants.  Not only does this milling about bring energy to urban areas, but it also contributes dollars to city coffers.  Now with the coronavirus causing some cities to issue “shelter at home” orders, close restaurants except for pick up and delivery, and order the use of facial…

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Unemployment

Whither the United States of America? The “American Dream” has become a “Nightmare”

By Editors' Choice

Image: Unemployment By Ernest Neuschul 1931. By Massoud Nayeri, Global Research — The least expectations of all hardworking families are simple and noble. They want to raise their children to be educated, content and prosperous in a safe environment. This is a universal aspiration. From Baghdad to Boston, working families share the same hopes and expectations; only the degree of suffering separates them. When one part of a body is in strain,…

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Trump, FDR

The Shame, it took a Virus for America to Finally Bail out Its Workers and the Poor

By Commentaries/Opinions, COVID-19 (Coronavirus)

By Earl Ofari Hutchinson — Moments before the House took a final vote on the COVID stimulus package, a handful of progressive House Democrats railed that the bill gave the heavy cash to the major corporations. While workers and the poor, they said, got crumbs. This was also pretty much the attack line from Bernie Sanders, Elizabeth Warren and other progressive Democrats in the days before the final vote on…

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