Tag

Economy Archives - Institute of the Black World 21st Century

People march towards the Washington Monument at the Black Lives Matter protest in Washington DC 6/6/2020

Why racism is an essential tool for maintaining the capitalist order

By Editors' Choice

By Richard D. Wolff, Independent Media Institute — U.S. capitalism survived because it found a solution to the basic problem of its instability, its business cycles. Since capitalism never could end cyclical downturns and their awful effects, its survival required making those effects somehow socially tolerable. Systemic racism survived in the post-Civil War United States partly because it helped to achieve that tolerability. Capitalism provided conditions for the reproduction of…

Read More

BET founder calls for $14 trillion of reparations for slavery

By Reparations, Video/Audio

Robert Johnson, founder of RLJ Companies and BET, tells CNBC’s “Squawk Box” America must make reparations for slavery in order to address racial inequality. Robert Johnson, founder of Black Entertainment Television, told CNBC on Monday the U.S. government should provide $14 trillion of reparations for slavery to help reduce racial inequality. The wealth divide and police brutality against blacks are at the heart of protests that have erupted across the…

Read More

Vantage Point: Check Black On the Census • Life and Legacy of Dick Gregory

By Vantage Point Radio, Video/Audio

Vantage Point Radio May 25, 2020 — On this African Liberation Day edition of Vantage Point, host Dr. Ron Daniels aka The Professor talks with guests Laurie Daniel Favors, Esq. and Rev. Mark Thompson. Premium Dick Gregory Compilation CD from Pacifica Archives Topics Check Black on the Census The Life and Legacy of Dick Gregory Guests Laurie Daniel Favors, Esq. Interim Director, Center for Law and Social Justice, Medgar Evers,…

Read More
Commentary, Articles and Essays by Dr. Julianne Malveaux

What About the Children?

By Dr. Julianne Malveaux

By Dr. Julianne Malveaux — Do you see the light at the end of the coronavirus tunnel? With all 50 states and the District of Columbia) either lifting “shelter in place” orders or relaxing them, with restaurants opening, albeit at half capacity, things seem to be slowly returning to “normal” whatever that is.  Many of us are still “social distancing,” as defined by the Centers for Disease Control as staying…

Read More
Armed protesters provide security as demonstrators take part in an "American Patriot Rally," on the steps of the Michigan State Capitol in Lansing, on April 30, 2020

For many cautious African Americans, the move to reopen America is not a ‘black friendly’ campaign

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

“Nothing about this movement is really black friendly.” By Nick Charles, NBC News — As protests erupt over stay-at-home orders and the clamor to reopen the economy becomes louder, the coalition of people storming state Capitols — some armed with semi-automatic weapons and most not wearing masks or observing social distancing guidelines — have had one thing in common: Almost all of them are white. African Americans, for the most…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More
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…

Read More