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Economy Archives - Institute of the Black World 21st Century

"It is transnational corporations, the stand-ins of yesterday's British empire—often aided by an enthusiastic national bourgeoisie—that have robbed the Ghanaian people of sovereignty over their resources, their wealth, and their future," writes Celina della Croce.

98.3 Percent of Ghana’s Gold Remains in the Hands of Multinational Corporations

By | News & Current Affairs

The disproportionate focus on corruption of national leaders distracts from the systemic theft of national wealth by multinational corporations By Celina della Croce — Every year, the vast majority of Ghana’s natural wealth is stolen. The country is among the largest exporters of gold in the world, yet—according to a study by the Bank of Ghana—less than 1.7 percent of global returns from its gold make their way back to the Ghanaian…

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National Museum of African American History and Culture

Debt-Free: Five Things to Know About the Billionaire Donor Behind That Morehouse Gift

By | News & Current Affairs

By Ade Adeniji, Inside Philanthropy — It’s graduation season again, as students around the country don their caps and gowns, receive cheers from family, and then scramble to move out of their dorms. At Morehouse College, the all-male historically black college founded in 1857 in Atlanta, the nearly 400-member class of 2019 watched billionaire private equity veteran Robert F. Smith deliver the commencement address and receive an honorary doctorate. Near…

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President Donald Trump talks about border security with Senate Minority Leader Chuck Schumer (D-N.Y.) and House Speaker Nancy Pelosi (D-Calif.) as Vice President Mike Pence sits nearby in the Oval Office on December 11, 2018 in Washington, D.C.

Critics Warn, $2 Trillion Infrastructure Plan ‘Another Empty Promise’ From Trump

By | News & Current Affairs

“If major tax increases are off the table, there is no way to pay for a $2 trillion infrastructure plan, it’s that simple.” By Jake Johnson, Common Dreams — With President Donald Trump and Democratic leaders set to meet Wednesday to discuss a possible $2 trillion infrastructure package, a progressive advocacy group on Monday warned that any proposal that doesn’t include significant tax hikes on the rich and corporations “will…

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Young Black Men

About that April 2019 Jobs Report

By | News & Current Affairs

Aspects of the report are disturbing. Over the last year, the black unemployment rate has risen 0.2 percentage points to 6.7 percent and the white unemployment rate has dropped 0.4 percentage point to 3.1 percent. The rise is all among black men. By Portside —  Economy Adds 263,000 Jobs in April as Unemployment Rate Falls to 3.6 Percent By Dean Baker, Center for Economic and Policy Research 45% Of Young…

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National Economic Council Director Larry Summers, Treasury Secretary Timothy Geithner, and Office of Management and Budget Director Peter Orszag look at President Barack Obama during an economic meeting in the Roosevelt Room of the White House, March 24, 2009.

Obama’s Original Sin

By | Commentaries/Opinions

A new insider account reveals how the Obama administration’s botched bailout deal not only reinforced neoliberal Clintonism, but also foreshadowed an ongoing failure to fulfill campaign promises. By Eric Rauchway, Boston Review — In November 2008, as a financial mudslide that had slowly been accelerating for months accumulated increasingly persuasive comparisons to the collapse that triggered the Great Depression in 1929, Time magazine ran a cover showing Barack Obama’s smiling face inserted in place…

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Commentary, Articles and Essays by Dr. Julianne Malveaux

How Strong Is Our Economy?

By | Dr. Julianne Malveaux

By Julianne Malveaux — The April unemployment rate, at 3.6 percent, is at its lowest rate since December 1969. Payroll employment increased by more than 250,000, outperforming expectations and reversing the disappointing job creation numbers of last month. First quarter growth was reported at 3.2 percent, a robust figure that exceeds estimates, earlier this year, that growth would be somewhat slower. This perhaps gives the man who lives in the…

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A sign posted on a construction site says, "Danger Due to Capitalism."

Beware the Soft Hand of Capital

By | Editors' Choice

Capitalism co-opts our best visions — through its soft hand, capital reforms its way out of crisis, putting forward more tolerable forms of exploitation. By Clara Mejia-Gamboa & Daniel Sullivan, Roar Magazine — These days, it seems customary to begin any political commentary with the laundry list of indicators of global decline: exploding wealth inequality, looming environmental collapse, and the resurgence of overt racial terror in far-right governments. We are…

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Rep. Alexandria Ocasio-Cortez speaks during a press conference to announce Green New Deal legislation to promote clean energy programs outside the U.S. Capitol in Washington, D.C., February 7, 2019.

The Green New Deal Must Transform the Economy

By | Commentaries/Opinions

By Ryan Gunderson & Diana Stuart, Truthout — Rep. Alexandria Ocasio-Cortez and Sen. Ed Markey introduced the Green New Deal on February 7, a resolution that deserves praise for putting forth the boldest climate change proposal in U.S. history. Considering two recent projections of catastrophic climate change — namely scientists’ warning of a runaway “hothouse Earth” scenario and the Intergovernmental Panel on Climate Change (IPCC) special report detailing the impacts of a 1.5 degree Celsius (1.5°C) rise in global temperatures…

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Buy Black and Bank Black: Movement in the US Gains International Attention

By | Video/Audio | No Comments

Atlanta, GA — The “Buy Black” movement draws the attention of a French news outlet. In this video you’ll hear from Killer Mike (Rapper, Activist), Dr. Boyce Watkins (Author, Economist), and Sharif Abdul Malik (Founder, WeBuyBlack) who withdraws money from Bank of America to deposit into a Black owned bank. This video was originally posted on France24.com, September 27, 2016 Also See:  Newark As Model City National Town Hall…

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