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About Portland observer. (Portland, Or.) 1970-current | View Entire Issue (Sept. 11, 2019)
HOUSING September 11, 2019 Special Edition Opinion articles do not necessarily represent the views of the Portland Observer. We welcome reader essays, photos and story ideas. Submit to news@portlandobserver.com. O PINION Page 9 MCS Still in Business Martin Cleaning Service Carpet & Upholstery Cleaning Residential & Commercial Services Minimum Service CHG. $50.00 A small distance/travel charge may be applied CARPET CLEANING 2 Cleaning Areas or more $30.00 each Area Pre-Spray Traffic Areas (Includes: 1 small Hallway) 1 Cleaning Area (only) $50.00 Includes Pre-Spray Traffic Area and Hallway Stairs (12-16 stairs - With Other Services) : $30.00 Heavily Soiled Area: $10.00 each area (Requiring Pre-Spray) Stark Economic Divides around Race No more band-aids J essiCah p ierre Four hundred years ago this sum- mer, the first en- slaved people from Africa arrived in Virginia. Slavery is often reduced to a crime of America’s long-ago past. But enslaved labor created the backbone for America’s capitalis- tic economy, allowing it to grow into — and remain — the world’s leading economy today. The effects of this reliance on unpaid African slave labor is still felt in America’s current racial wealth divide. Today the racial wealth divide is greater than it was nearly four decades ago, and trends point to its continued wid- ening. Although slavery officially ended in 1865, the unequal treat- ment of African Americans con- tinued through Jim Crow, red lining, and mass incarceration, among many public policies. Our country’s historic racial wealth disparities continue to be perpet- uated and increased by the trend by towards extreme inequality in the United States. To further paint a dire pic- ture, a report released earlier this year by the Institute for Policy Studies found that between 1983 and 2016, the median black family saw their wealth drop by more than half, compared to a 33 percent increase for the median white household. Our economy is still thriving off the backs of African Ameri- cans and other poor people. While black wealth plummets, the num- ber of households with $10 mil- lion or more skyrocketed by 856 percent during those years. On the other end, 37 percent of black families have zero or “neg- ative” wealth, meaning their debts exceed the value of their assets. Just 15 percent of white families are in the same position. The racial wealth divide is an issue that affects all Americans — and the overall health of our economy. As the black population increas- es, low levels of black wealth play a key factor in the overall decline in American median household wealth — from $84,111 in 1983 to $81,704 in 2016. Across all races, the number of households experiencing negative wealth has increased from one in six in 1983 to one in five households today. Many conversations around the depletion of black wealth point towards false narratives about the work ethic of African Americans. This is a myth — studies show that college-educated black fam- ilies have less wealth than high school-educated white families. And single-parent white families are twice as wealthy as two-parent black families. The Institute for Policy Studies concludes that these outcomes are not the result of individual behav- ior, but the result of black Amer- icans having fewer resources to begin with — resources they’ve been denied for 400 years, ever since the first slaves were kid- napped from Africa and brought to America to provide free, strenu- ous, and valuable labor. Employment, income, home- ownership, stock ownership, en- trepreneurship, and virtually all other economic indicators show stark divides around race. To truly overcome these divides, we need a massive, targeted investment simi- lar to the massive, targeted invest- ments that historically appropriat- ed wealth to white communities. It’ll take bold structural reform and the political will to finally achieve economic justice for Af- rican Americans, because clearly ending slavery wasn’t enough. By creating a formal commis- sion to study the issue, lawmakers can take a serious look at what reparations for descendants of en- slaved Africans in America could look like. Inaction — or worse, repeating the same mistakes that led to this situation — will simply widen the divide and create great- er economic instability for the country at large. Four hundred years later, it’s time to stop putting a temporary bandage on the painful and relevant history of American slavery. It’s time to heal the deep wounds of racism and inequity once and for all. Not only to finally provide Af- rican Americans with the econom- ic equity they deserve, but to en- sure the health of our economy for generations to come. Jessicah Pierre is the inequali- ty media specialist at the Institute for Policy Studies. Distributed by OtherWords.org. Area/Oriental Rug Cleaning Regular Area Rugs $25.00 Minimum Wool Oriental Rugs $40.00 Minimum UPHOLSTERY CLEANING Sofa: $70.00 Loveseat: $50.00 Sectional: $110 - $140 Chair or Recliner: $25.00 - $50.00 Throw Pillows (With Other Services) : $5.00 ADDITIONAL SERVICES • Auto/Boat/RV Cleaning • Deodorizing & Pet Odor Treatment • Spot & Stain Removal Service • Scotchguard Protection • Minor Water Damage Services Call for Appointment (503) 281-3949
