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Bold Policies for Economic Justice

Author

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  • William Darity
  • Darrick Hamilton

Abstract

The U.S. is characterized by a longstanding pattern of large structural racial inequality that deepens further as a result of economic downturn. Although there have been some improvements in the income gap up until around the mid 1970s, the employment gap, and the racial wealth gap - two dramatic indicators of economic security - remains exorbitant and stubbornly persistent. We offer two race-neutral programs that could go a long way towards eliminating racial inequality, while at the same time providing economic security, mobility and sustainability for all Americans. The first program, a federal job guarantee, would provide the economic security of a job and the removal of the threat of unemployment for all Americans. The second program, a substantial child development account that rises progressively based on the familial asset positioning of the child’s parents, would provide a pathways towards asset security for all Americans regardless of their economic position at birth. Copyright Springer Science + Business Media, LLC 2012

Suggested Citation

  • William Darity & Darrick Hamilton, 2012. "Bold Policies for Economic Justice," The Review of Black Political Economy, Springer;National Economic Association, vol. 39(1), pages 79-85, March.
    • Handle: RePEc:spr:blkpoe:v:39:y:2012:i:1:p:79-85
    DOI: 10.1007/s12114-011-9129-8
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    References listed on IDEAS

    as
    1. Maury Gittleman & Edward N. Wolff, 2004. "Racial Differences in Patterns of Wealth Accumulation," Journal of Human Resources, University of Wisconsin Press, vol. 39(1).
    2. William Darity, 2010. "A Direct Route to Full Employment," The Review of Black Political Economy, Springer;National Economic Association, vol. 37(3), pages 179-181, September.
    3. Darrick Hamilton & William Darity, 2010. "Can ‘Baby Bonds’ Eliminate the Racial Wealth Gap in Putative Post-Racial America?," The Review of Black Political Economy, Springer;National Economic Association, vol. 37(3), pages 207-216, September.
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    Citations

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    Cited by:

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    3. Robert H. Scott & Kenneth Mitchell & Joseph Patten, 2022. "Intergroup disparity among student loan borrowers," Review of Evolutionary Political Economy, Springer, vol. 3(3), pages 515-538, October.
    4. Jermaine Toney, 2022. "Is there wealth stability across generations in the U.S.? Evidence from panel study, 1984–2017," Contemporary Economic Policy, Western Economic Association International, vol. 40(4), pages 551-567, October.
    5. Gregory N. Price, 2022. "Incarceration risk, asset pricing, and black‐white wealth inequality," Social Science Quarterly, Southwestern Social Science Association, vol. 103(5), pages 1306-1319, September.
    6. E. Klein & E. Fouksman, 2022. "Reparations as a Rightful Share: From Universalism to Redress in Distributive Justice," Development and Change, International Institute of Social Studies, vol. 53(1), pages 31-57, January.
    7. John Komlos, 2019. "Estimating Labor Market Slack, U.S. 1994-2019," CESifo Working Paper Series 7941, CESifo.
    8. Chunhui Ren, 2020. "A Framework for Explaining Black-White Inequality in Homeownership Sustainability," Demography, Springer;Population Association of America (PAA), vol. 57(4), pages 1297-1321, August.

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