Eddie C. Brown is the founder, chairman, chief executive and senior portfolio manager of Brown Capital.
I was raised in the Jim Crow South, when the railroad tracks separated whites from blacks and African Americans were considered second-class citizens. Raised by common laborers who worked hard in Florida’s citrus groves, I had my world widened by weekend excursions to Orlando, where seeing white men in suits and ties behind desks left an impression. It was there where possibility was seeded.
I began my investment career as the first African American portfolio manager at T. Rowe Price in 1973, not because of some quota or the good graces of white executives, but because the meritocratic model made me visible and managers were supportive. After 10 years in the business, I became an entrepreneur.
Source: WAPO
My Comments: I found Mr. Brown’s piece in the Washington Post to be very insightful, timely and important reading for African Americans still trying to eek out a piece of the American dream.
Christine Benz
Attribution: This article was posted on Morningstar.com by the veritable Christine Benz. I could not help but post it on my blog because this is the clearest I have ever seen the numbers laid down that describes in pure detail what racism looks like.
Income and wealth disparities along racial lines have repercussions for all aspects of life in the U.S.: education, health, homeownership, retirement, and life expectancy.
Racial inequality in the United States has many dimensions, but one of the most impactful and broad-ranging is economic. On average, people of color experience significantly
lower levels of income, retirement savings, and rates of homeownership than white Americans. Those shortfalls contribute mightily to other ill effects: poorer healthcare outcomes, lower educational attainment, and shorter life expectancies, for example.
Making strides toward improving these issues, let alone solving them, is far from simple. But a key first step is acknowledging and understanding the magnitude of the problem. And if there’s a single positive associated with financial inequality along racial lines, it’s that it’s incredibly easy to demonstrate with data.
Here are some key statistics about the impact of the racial divide for income, savings, and overall financial well-being.
If you see police choking someone to death – such as Eric Garner, the 43-year-old black horticulturalist wrestled down on the streets of New York City in 2014 – you might choose to pepper-spray them and flee. You might even save an innocent life. But what ethical considerations justify such dangerous heroics? (After all, the cops might arrest or kill you.)I
Source: Aeon
My Thoughts: Well beautifully well put.
Black boys raised in America, even in the wealthiest families and living in some of the most well-to-do neighborhoods, still earn less in adulthood than white boys with similar backgrounds, according to a sweeping new study that traced the lives of millions of children.
Source: Extensive Data Shows Punishing Reach of Racism for Black Boys
My Comments: Not too surprised by this at all. The struggle continues and standing by to be blamed for being in our condition.
The national conversation in the U.S. is focused squarely on improving the lives of people in the working class. The debate revolves around exactly how to do that. Politicians and pundits have all sorts of ideas, from efforts to save jobs, create tax cuts, subsidize housing, and provide universal healthcare. Thing is, people don’t even agree on how to define the working class, much less how their living conditions stack up across the country. We created a data visualization to illustrate this complex situat
Source: The Working Class Can’t Afford the American Dream
My Comments: Pretty sobering revelations about the direction of the country. Living in Jacksonville, it appears I am in a relatively good position for now.
Next year will mark the 50-year anniversary of the Civil Rights Act of 1968, also known as the Fair Housing Act.
Our nation’s capital and, for many people, the physical representation of unity and freedom in the United States, Washington D.C. is also one of the most segregated cities in the United States. About one-quarter of the population is black, a relatively large share compared to both
Source: 16 Most Segregated Cities in America
My Comments:
A really eye opening piece of the legacy of racism in our beloved country.
