Showing posts with label race and wealth. Show all posts
Showing posts with label race and wealth. Show all posts

Friday, January 20, 2012

Opportunity disparity

The following article appeared in the Atlanta Journal Constitution.  The author, Margaret C. Simms is a senior fellow and director of the Low-Income Working Families project at the Urban Institute, a nonpartisan policy research organization based in Washington, D.C.

Opportunity still has racial hue

At the march on Washington, Martin Luther King Jr. spoke these now famous words: “I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character.”

While King made the statement about racial equality and racial justice, at some level, it is a sentiment to which all parents can relate. All parents want their children to reach their potential and not be held back by anything other than their willingness to work hard.

Children are more likely to succeed if they have a stable home environment, adequate nutrition and the opportunity to get a good education. Unfortunately, nearly 50 years after the march on Washington, opportunity still has a racial dimension. That is not to say that progress hasn’t been made in breaking racial barriers. Advancement can be seen in every dimension of American life — education, politics and economic achievement. The percentage of African-Americans that have a college education has gone up from 3.5 percent to 18 percent. The number holding political office, including the presidency, has risen from about 1,400 to more than 10,500. Black men and women have held corporate CEO positions.

Yet in many areas, African-Americans have made little progress relative to their white counterparts. Median household income for African-Americans is only 58 percent of the median white household income, little different from the ratio in the late 1960s. This disparity reflects the fact that African-Americans are more likely to be unemployed regardless of how the economy is faring and that African-American families are more likely to be headed by women. Even when you compare households with the same family structure and educational level, African-Americans aren’t as well off.

A recent Pew Research Center study showed the recession and housing market crash hit African-Americans hard, as those with any assets at all were most likely to have them in the form of homeownership. The Pew report shows that between 2005 and 2009, African-American wealth fell by 53 percent compared with a 19 percent drop for white households. As a result, the typical white household had 20 times the net worth of the typical black household in 2009, up from 11 times in 2005. This is the biggest gap seen in the 25 years that the data have been collected.

To read the entire article click here

As always, reactions invited. 

Tuesday, June 01, 2010

D Magazine, Race and Dallas

So, Wick Allison, top guy at D Magazine. certainly not known as a liberal or socially "on the edge" rag in these parts, published a stunning essay in his June 2010 issue on race and the rich in Big D.  His questions and his concerns should be addressed by political and religious leaders.  In fact, Allison calls both groups out on the matter.  Here's how he begins: 

Why are the Best Neighborhoods in Dallas Still Segregated?

The homogenous Park Cities, Preston Hollow, and Greenway Parks could hurt the city's future.
by Wick Allison
From D Magazine JUN 2010

Tom Leppert, Dick Davis, and Bill Seay are the three mayors of the four most prestigious neighborhoods in Dallas: Preston Hollow, Greenway Parks, University Park, and Highland Park. These neighborhoods—still, in 2010—are almost entirely lily white. In Dallas, usually we talk about race and the poor. It’s time to talk about race and the rich. Race is the one thing that could derail Dallas from becoming the nation’s No. 1 center of corporate headquarters.

In 2009, New York had 94 Fortune 500 companies, California had 98, and Texas had 118, of which 46 are in North Texas. If a relocation decision is based purely on costs, taxes, convenience, and labor, Dallas wins hands down. But as we found with Boeing, other factors can come into play. Would a CEO move to downtown Dallas if his top executives only felt comfortable living in Trophy Club or Grapevine? Why not go to Atlanta instead?

It’s time to face some serious questions. Why don’t successful upper-income black families live in the most affluent neighborhoods nearest downtown Dallas? If it is because they don’t feel comfortable raising their families there, why don’t they?

To read the entire essay click here

I understand not everyone is so keen on Allison's questions and point of view.  I'm proud of him.  It's a conversation long overdue in this city.  What do you think?