The Economic Effects Of Economic Advancement Among African Americans

1758 Words 8 Pages
African Americans have been economically disadvantaged in the United States for generations because of factors that are beyond their reach. Economic Advancement among African Americans has improved over time but the wealth gap is still too large to ignore. The lack of black wealth can be attributed to several factors the main one being slavery. Other factors that had huge impact are the G.I Bill, red lining by banks and real estate agents, and high incarceration rates.
Slavery in the United States drove the economy in the country. With the advent of the cotton gin the United States was producing more cotton than ever before all at the hands of African slaves. It is well known that slaves were never paid or compensated for their labor while
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Because of racism and Jim Crow laws many African Americans found themselves with no educational institution admitting them. An article in the The Journal of Economic History highlighted the educational roadblocks returning African Americans faced after returning home, “At the conclusion of World War II, blacks wanting to attend college in the South were restricted in their choices to about 100 public and private institutions delineated in the Office of Education publications as “Colleges for Negroes,”11 as segregation in public higher education remained a legal mandate in many southern states. The public institutions for blacks were founded largely under the Second Morrill Act in 1890, which specifically prohibited the distribution of federal funds to states that did not provide separate accommodation for blacks if the primary state institution denied admission to blacks.” The article highlights the lack of educational institutions willing to accept African Americans in the South. Many colleges and universities could expand to meet the demand and needs of the large amounts of students enrolled because of the G.I Bill. However, many institutions set up for African Americans being educated, did not have the capacity to enroll many African Americans that wanted to take advantage of the educational benefits of the G.I …show more content…
The benefits of closing the wealth gap between African Americans and whites far outweigh the harm they can do so it’s time for American society to push for reforms and regulations that benefit the entire population and not just a particular race. When it comes to housing polices and homeownership, stricture enforcement of laws and regulations that prohibits predatory lending and housing policies would go a long way in closing the gap. Diversity in neighborhoods across the United States should be encouraged so we do not have overwhelmingly white suburbs and majority minority urban neighborhoods. Americans should push for a higher federal minimum wage. The current federal minimum wage of $7.25 an hour is no longer livable with our rising cost of living. Just to make ends meet on that wage alone would require people to have more than one job just to survive in America. Tougher enforcement of discrimination laws would allow African Americans and other minorities to enter more white dominated career fields, receive promotions more often, and most importantly making sure they are receiving equal pay for their work. Education must be reformed so that there is public Pre-K and full day kindergarten. Schools in urban areas must be equipped and maintained so they can carry their student from their early grade school years all the wat to college, so they too can have equal footing

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