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- Feb. 28, 2021
-- Today, large emerging markets such as China, India and Africa continue to accelerate growth with greater economic prosperity and robust innovation in healthcare, technology, aerospace, manufacturing, agriculture and finance. We'll have reached a global population saturation point beyond 8 Billion people in 2023; that's propelling large emerging markets such as China and India toward a technological quantum leap for the next 25 years. So, America needs every citizen to reach maximum potential and generate innovation in order to compete in the future, particularly as technology has leveled the economic playing field.
America has done a poor job at maximizing every citizen's potential. Research shows the U.S. has lost $16 Trillion in economic productivity and innovation in the last 20 years, due to racial inequality and wealth gaps for Hispanic, Black and Asian demographics being denied equal wages, high quality education, home ownership financing investment and small business access to venture capital reports BrightNovaMedia.com.
The Inconvenient Truth. Historically efforts by Black Americans to build wealth can be traced back. But these efforts have been systematically impeded in a host of ways, beginning with 246 years of chattel slavery and followed by Congressional mismanagement of the Freedman's Savings Bank (which left 61,144 Black depositors with losses of nearly $3 million in 1874), the violent massacre of nearly 300 Blacks decimating Tulsa's Greenwood District in 1921 (a population of 10,000 that thrived as the epicenter of African American business and culture, commonly referred to as "Black Wall Street"), and discriminatory policies throughout the 20th century including the Jim Crow Era's "Black Codes" strictly limiting opportunity in many southern states, the GI bill, the New Deal's Fair Labor Standards Act's exemption of domestic agricultural and service occupations, and redlining. Wealth is taken from Black communities before it's able to grow (Brookings Institute Feb. 2020).
Blacks and those lacking resources experience poor education, inaccessible health care, big wage gaps, under-employment and the broken U.S. criminal justice system that denies equal rights and due process making it unaffordable. Blacks and those lacking resources become easy targets of widespread corruption such as coercive "charge stacking" to force spurious plea deals which occurs now in 97% of all criminal case, a shockingly high rate.
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