The link between capitalism and systemic racism has been with us even before the founding of the United States, as using people for profit is one of our country’s original sins. The compounding and cumulative impact of discrimination in housing, education and employment, displacement of people off their land facilitated by policies like urban renewal and the disinvestment in urban communities brought about by redlining are just a few ways in which there has been a long history of attack on BIPOC prosperity.
From the wealth gap to the lack of venture and loan capital available to BIPOC businesses, the economic opportunities of BIPOC people in this country have been purposely limited. The authors in this section offer us some purposeful ways to disrupt these patterns and invest in the economic empowerment of Black and Brown people, communities and businesses.
From Red Lines to Brown circles, Again
Shekinah Mitchell
The Role of the Business Community in Creating a More Equitable Richmond
Brian Anderson
Interview with Kim Young
Kim Young
1. What connections do you see, if any, between capitalism and racism? What role, if any, people see in government expanding economic empowerment? reparations?
2. Shekinah Mitchell argues that “Our goals must grow beyond increasing bankability into financial systems built on capitalism corrupted by racism and instead stretch to create inclusive, communal pathways to economic liberation.” What are your thoughts on Shekinah’s Brown Circles model which supports the creation of Black and Brown community LLC’s and Black-owned banks and credit unions? Do you have other ideas that would provide pathways to economic liberation?
3. Brian Anderson believes that the business community has a role to play in advancing racial equity through changing their policies in practices, supporting students of color and removing barriers to supplier diversity. What role do you see the business community playing in advancing racial equity? Would you have anything to add to Brian’s recommendations?
4. How do the ideas of justice and liberation that Iman discusses, connect with economic empowerment?
https://www.liscstrategicinvestments.org/black-economic-development-fund
https://www.inclusiv.org/about-us/
https://jacksonwardcollective.com/
The Daughter of a Slave Who Did the Unthinkable: Build a Bank. Back in Business
Jason Zweig, The Wall Street Journal (September 25, 2020)
Minority entrepreneurs at a tipping point as Black-owned banks dwindle in the U.S.
Cameron Costa, Our New Future (August 25, 2020)
Mighty Deposits Guide (2022
From commitments to action: How CEOs can advance racial equity in their regional economies
Amy Liu and Reniya Dinkins (March 11, 2021)
The Case for Reparations
Ta-Nehisi Coates (June, 2014)
Read our original publication, "24 Visions of Racial Equity in Richmond," first published in 2021, which delves into the unique insights on race and equity in Richmond.
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