Make It Visible: A social experiment to raise awareness about the racial wealth gap
By Jordan Stroman
The murder of George Floyd and the subsequent Black Lives Matter protests have made it clear that comprehensive criminal justice reform must sweep this country. But while we have rightfully zeroed in on criminal justice reform, an even wider conversation is taking place about the many other racial inequalities this country has yet to remedy.
In order to tackle these persisting inequalities, I believe bold public policies must be implemented. To pave the way for these bold policies, I also believe a greater degree of public consensus much be reached about what the most pressing racial inequalities are, and what form the solutions to these inequalities should take.
So through what I'm calling a “social experiment” I hope to raise awareness and build consensus around one particular inequality…..the racial wealth gap.
I hope to build this awareness and consensus by making the racial wealth gap and its history visible to all DC residents by creating accurate and eye opening charts, and then displaying these charts on yard signs.
After achieving local awareness and consensus, I plan to turn “Make it Visible” into targeted demands of the DC government. The District of Columbia 2020 Comprehensive Plan should include steps that would eliminate the racial wealth gap in the city in a 20-year time frame.
If successful, I hope this can be a model for other cities and regions.
I have compiled a list of 7 reasons why the racial wealth gap should be prioritized. Below are 3 of the most important reasons.
This country has an obligation to close the racial wealth gap as the wealth gap that exists today can be directly linked to the wealth gap that existed prior to 1963. The most recent research indicates that the median white household held about 10X the wealth of the median black household in 1963. Today the white households still hold about 10x the wealth of black households. The “starting wealth conditions” of 1963 were very unequal and thus a “baseline” correction is OWED to African Americans.
The wealth gap can realistically be closed in a “short” time frame-a combination of Child Trust accounts (baby bonds), universal basic income, and aggressive policies to increase black home ownership rates would significantly and realistically close the median wealth gap in a 20-year time span.
The impacts of eliminating the racial wealth gap will be broad and long lasting- Wealth provides people with the initial capital to purchase an appreciating asset, which in turn, generates more wealth. Accumulated wealth and all its benefits can then be passed on to future generations. (The term “appreciating assets” is broad and includes things such as down-payment on a house, the initial funds for a business or retirement fund, as well as tuition for college education.
I was born in the district, raised in the district, and currently live in the Ward 4 Shepherd Park neighborhood. I attended DC Public Schools and received a B.A in Economics and Physics from the University of North Carolina at Chapel Hill. I have always been drawn to the intersection of math, science and storytelling. So as we find ourselves in the midst of racial and economic unrest reminiscent of the Great Depression and the Civil Rights Movement, I felt I owed it to those who came before me to use my skills and passions to try and make the story of wealth inequality in this country “visible” for all to see.
