The Part III webinar presenters Onaje Muid, Jerry Mitchell, and Antoine Thompson will discuss Developing Urban and Rural Economic Development and Wealth Building Policies for Black Communities.
The Part III webinar session will discuss what actions can be taken to create generational wealth for the Black community, where the current trajectory has Black families averaging $0 in wealth by 2053. Black Americans have always known that America has disproportionately treated Blacks from Whites in an economic sense and that America has not been the land of opportunity. Government backed entitlement programs built the White middle class and helped grow their wealth. Historically, wealth building has been drawn based on race. Institutional racism was an economic decision, and one that continues to harm all of us, regardless of ethnicity.
Over the past 30 years, the average wealth of White families has grown by 84%—1.2 times the rate of growth for the Latino population and three times the rate of growth for the Black population. It will take 228 years for the average Black family to catch up to the wealth of an average White family today, and that is only if conditions improve immediately.
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Male Commissioner, N'COBRA Health Commission and Sufi social worker/activist.
CEO, Alabama Black Chamber of Commerce.
National Executive Director, National Association of Real Estate Brokers.