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Economy Archives - Institute of the Black World 21st Century

March on Washington

The myth of class-reductionism

By Commentaries/Opinions

The fight for racial and gender justice has always been about economic inequality, too. By Adolph Reed Jr., New Republic — Ever since Bernie Sanders’s insurgent run for the Democratic presidential nomination in 2016, a specter has haunted left-liberal debate: the specter of “class reductionism.” Left-identitarians and centrist liberals have used this oversimplified charge not merely to dismiss Sanders but also to cast suspicion on the broad array of universally…

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Diepsloot in South Africa

South Africa: The fault-lines of the world’s most unequal society

By Editors' Choice

By John Allen, All Africa — Cape Town — Amid the explosive cocktail of ingredients which contributed to the outbreak of looting and burning in South Africa this week, new fault-lines running through a society divided by class as well as by race were on display as never before. The unrest may have been triggered by the jailing of former president Jacob Zuma and exacerbated by factors ranging from orchestrated…

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Commentary, Articles and Essays by Dr. Julianne Malveaux

The Road to Recovery Has Potholes

By Dr. Julianne Malveaux

By Dr. Julianne Malveaux — There is lots of great news in the June Employment Situation report. Eight hundred and fifty thousand jobs were created! And while the unemployment rate remained essentially unchanged at 5.9 percent, the labor market is showing signs of life. The Biden-Harris administration doesn’t mind crowing about it, either, noting that the three million jobs that have been created since they took office in late January…

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Mayor Baraka launches ambitious two-year economic recovery plan with $8.8 million first year budget.

Mayor Baraka launches ambitious two-year economic recovery plan with $8.8 million first year budget

By Editors' Choice

Investment will focus on small businesses, equitable development, and neighborhoods; Funding comes from 2021 American Rescue Plan legislation to create affordable commercial space. Mayor Ras J. Baraka announced last week that Newark is launching an ambitious two-year economic recovery program at a press conference at Kleen Kutz Unisex Beauty Salon at 1011 Bergen Street. The program will help small businesses like Kleen Kutz connect to grants, technical assistance and other…

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Slaves on Edisto Island, South Carolina in 1862

Reparations would shake up American capitalism – and that’s a good thing

By Reparations

Paying compensation to the descendants of slaves would not just right a historic wrong, it would transform the US economy for the better. By Aaron White, openDemocracy — When I was a child, I used to visit my Viennese grandmother in the rent-controlled apartment on New York’s Upper West Side that she had been living in for nearly 50 years. I remember the intoxicating smells of sizzling schnitzel and her…

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Commentary, Articles and Essays by Dr. Julianne Malveaux

When Will Workers Get A Break?

By Dr. Julianne Malveaux

By Julianne Malveaux — Now that the impeachment trial of the 45th President is over, perhaps our legislators can turn their attention to working people, or more accurately, those who used to work and are not now working. There were 18 million more unemployment insurance claims now than a year ago, and nearly 10 million fewer jobs than before the pandemic. The first Friday report that the unemployment rate has…

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The decline and fall of the American Empire

By Editors' Choice

Instead of opening doors for American big business or supporting America’s diplomatic position in the world, the U.S. war machine has become a bull in the global china shop, wielding purely destructive power to destabilize countries and wreck their economies. By Medea Benjamin, Nicolas J.S. Davies— In 2004, journalist Ron Suskind quoted a Bush White House advisor, reportedly Karl Rove, as boasting, “We’re an empire now, and when we act, we…

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Eric Yuan became a billionaire 2019 for zoom

Even in a Pandemic, the Billionaires Are Winning

By Commentaries/Opinions

While many Americans suffered, the richest among us kept getting richer. By Farhad Manjoo— When I called up Chuck Collins on Tuesday afternoon, I found him glued to one of the grimmest new metrics documenting America’s economic and social unraveling. Collins is a scholar of inequality at the Institute for Policy Studies, a progressive think tank, and since March he has been tracking how the collective wealth of American billionaires has…

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CARICOM’s economic recovery and transformation – Need for serious collaboration and coordination

By News & Current Affairs

By: Kendol Morgan— G20 Summit Declaration: We remain determined to support all developing and least developed countries as they face the intertwined health, economic, and social effects of COVID-19, recognising the specific challenges in Africa and small-island developing states. Many of us remain fascinated by the ongoing crisis of democracy and governance which is taking place in the USA as COVID-19 is increasing there unchecked. President-elect Joe Biden has named his…

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Commentary, Articles and Essays by Dr. Julianne Malveaux

COVID Halts Women’s Workplace Progress

By Dr. Julianne Malveaux

By Dr. Julianne Malveaux — Economic recovery will be a long time coming. The Federal Reserve Bank says our corona recession will last into 2021, and perhaps even into 2022. If a vaccine is developed, a distribution plan still needs to be worked out, and there is still so much we don’t know about COVID. We do know that our economy has slowed and is only inching toward normalcy. We…

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Small Business

National Small Business Leaders Release Five-Point Plan to Save the Small Business Sector

By News & Current Affairs

Leading nonprofit executives, former senior federal officials and top public policy experts release the most comprehensive analysis of small business ever undertaken in the US and lay out a five-step plan that over 10 years would generate a net new 1.5 million small businesses and grow small businesses’ share of U.S. employment by 25%. WASHINGTON, D.C. — With Congress at an impasse on a new stimulus package and permanent business…

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Stressed Black Man

White Workers Are Getting Hired Back Twice As Fast As Black Workers

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

Nearly all the improvement in the unemployment rate over the past few months has been for white workers. By Emily Peck, HuffPost — At first glance, the unemployment rate seems a lot less terrible than it did a few months ago. In April, at the start of the COVID-19 shutdown, the jobless rate was a record-high 14.7%. This month, the Labor Department announced that the unemployment rate had dropped to 8.4%. But…

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