For much of the 1990s and early 2000s, elected leaders on both sides of the aisle argued that making our systems "colorblind" was the best way to address racism in America. We could achieve economic equality, the argument went, if our institutions simply removed race as a factor from the decision-making process.

But this colorblind, race-neutral approach has only exacerbated economic inequality over the past 50 years. In a new paper from the Roosevelt Institute, President and CEO Felicia Wong and Deputy Director of Race and Democracy Kyle Strickland argue that we need a new way to address economic injustice along racial lines.

"True equity isn't just about accepting that there's a promise of opportunity within a system that continues to exclude. It actually means a more equitable distribution of resources," Strickland said in our Pitchfork Economics podcast.

Simply offering, as former President Obama put it, "ladders of opportunity" to people of color isn't enough. "Access and opportunity alone is not sufficient" to fully address America's long history of racism, Strickland said. A colorblind economics system doesn't take into account the massive disparities in intergenerational wealth between white families and families of color and the countless ways that our economic systems, including our tax code, penalize families of color by prioritizing white wealth.

To address the racial wealth gap, we need to focus on building more equitable material outcomes. Strickland says economists have developed policies like job guarantees, guaranteed basic income, and baby bonds for working Americans that would help cut into the racial wealth gap and even the playing field when it comes to wealth inequality. 

Unfortunately, this paper has been published at a time when conservative pundits are taking up arms against even having a conversation about repairing racism in America.

"[The right wing is] ushering in a politics of white grievance to push back on anything doing with racial justice. This has been a tried and true method that they continue to do," Strickland said. "But we will only fail if we refuse to address it."

The truth is, when you repair the racial inequality in an economy, you're actually making that economy work for everyone, rather than solely benefiting the wealthy few at the top. When more people can fully participate in the economy, that's great news for everyone.

Thanks for reading, 

Paul Constant
Team Civic Action

Are you fired up to finally build an economy that works for all Americans? Ready to learn more from the world’s leading economic and political thinkers? Listen to the Pitchfork Economics podcast now!

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