Ten Benefits of Economic Equality For Melantated aka Black People.

 

Economic equality is a vital issue for black people, as they have historically been economically marginalized and disadvantaged. 

Achieving economic equality for black people can bring a wide range of benefits for individuals and society as a whole. Here are ten potential benefits of economic equality for black people:

1. Increased income: Economic equality would increase income for black people, helping them achieve financial stability and independence. According to a study conducted by the Economic Policy Institute (Jones, 2017), black Americans, on average, earn only 80 cents for every dollar earned by white Americans, resulting in a significant wealth gap between the two groups.
   
2. Reduced poverty: Economic equality would also reduce poverty rates among black people, as they would have more access to job opportunities and higher wages. According to the National Poverty Center (Shrider, 2021), black Americans are more likely to live in poverty than white Americans.
3. Better educational opportunities: Economic equality would allow black people to afford higher education, providing them with more professional and personal growth opportunities. According to the National Center for Education Statistics (NCES, 2019), black students are less likely to graduate from college than white students.
4. Improved healthcare: With more money and better job opportunities, black people would have better access to quality healthcare and the ability to lead healthier lives. A National Center for Health Statistics (NCHS, 2019) study found that black Americans are more likely to have chronic health conditions and less likely to have access to health insurance than white Americans.
5. More political representation: Economic equality would also give black people a more excellent voice in politics, as they would have more resources to participate in elections and advocate for their interests. According to the Brookings Institution (Ray, 2019), Black citizens are underrepresented in the political process, and voter suppression policies have hindered their participation in the electoral process.
6. Greater social mobility: Economic equality would give black people more opportunities to climb the socioeconomic ladder, leading to a more inclusive and equitable society. According to a study by the Federal Reserve Bank of St. Louis (Fazzari, 2017), black households experience less upward mobility than white households.
7. Less crime: Studies have shown that poverty and inequality can lead to higher crime rates. Economic equality would help to reduce crime in black communities. A study by the Brennan Center for Justice (Kimble, 2020) found that high poverty rates, unemployment, and lack of access to education and job training lead to a higher crime rate.
8. Greater social cohesion: When all members of society have equal access to economic opportunities, there is greater social cohesion, as citizens feel more invested in the well-being of their society and other citizens. According to a study by the National Bureau of Economic Research (Glaeser, 2016), greater economic equality leads to greater social cohesion.
9. More diverse businesses: Economic equality would give black people more opportunities to start their own businesses and participate in the economy as entrepreneurs and business owners, resulting in a more diverse business sector. According to a study by the Minority Business Development Agency (MBDA, 2020), black-owned businesses are significantly underrepresented in the economy, and lack of access to capital and other resources is a significant barrier to their growth.
10. A more equitable economy: Ultimately, achieving economic equality for black people would contribute to a more equitable economy, leading to a more fair distribution of resources and opportunities. A World Bank (2020) study found that economic inequality is negatively correlated with economic growth. 

Reference list:

Janelle J. (2017). The Racial Wealth Gap: How African-Americans Have Been Shortchanged out of the Materials to Build Wealth. Economic Policy Institute. https://www.epi.org/blog/the-racial-wealth-gap-how-african-americans-have-been-shortchanged-out-of-the-materials-to-build-wealth/

Emily S. (2021). Income & Poverty In The United States. The United States Census Bureau. https://www.census.gov/library/publications/2021/demo/p60-273.html

Emily S. (2021). Poverty In The United States.  https://www.census.gov/library/publications/2022/demo/p60-277.html

NCES. (2019). Dropout Rates. National Center for Education Statistics. https://nces.ed.gov/fastfacts/display.asp?id=16

NCHS. (2019). Health Disparities by Race and Ethnicity. National Center for Health Statistics.https://files.eric.ed.gov/fulltext/ED612069.pdf

Rayshawn R. (2019). Black citizens are underrepresented in the political process. Brookings Institution. https://www.brookings.edu/blog/how-we-rise/2019/09/12/setting-the-record-straight-on-black-voter-turnout/

Scott W. (2017). Race and Wealth Mobility in the United States. Federal Reserve Bank of St. Louis.

https://www.stlouisfed.org/community-development/publications/economic-mobility

Cameron K. (2020). Conviction, Imprisonment, and Lost Earnings: How Involvement with the Criminal Justice System Deepens Inequality. Brennan Center for Justice. https://www.brennancenter.org/our-work/research-reports/conviction-imprisonment-and-lost-earnings-how-involvement-criminal

Gradstein, M., & Justman, M. (2002). Education, Social Cohesion, and Economic Growth. The American Economic Review, 92(4), 1192–1204. http://www.jstor.org/stable/3083307

MBDA. (2020). Minority-Owned Businesses. Minority Business Development Agency. https://www.mbda.gov/

World Bank. (2020). Economic Inequality. https://www.worldbank.org/en/topic/isp

 Janelle J. (2017). https://www.epi.org/people/janelle-jones/ 

 

 Kemetic Minds. 10 Benefits Of Economic Equality For Black People. Youtube. https://www.youtube.com/watch?v=6XRGDjdRieQ