Can the economic disparity gap in America ever be closed?

Slavery may have been abolished in 1865, but the consequences of centuries of oppression are still being felt in the 21st century. We are experiencing a form of modern slavery where people of color still struggle to have equal access to opportunities to create wealth and economic freedom. The system was designed as a tool for control; create a system that people depend on, and you can control how much (or how little) they can achieve. 

We’ve seen some progress over the last several years, and some of it is very encouraging. For example, according to data from the U.S. Census Bureau, the number of Black-owned businesses with employees increased by 31.2% from 2002 to 2017. 

But is it enough?

Because it’s also a fact that white-headed households are nearly 6.5 times more wealthy than Black-headed households. 

How do we bridge this gap? How can we bring about actual progress and change so that such vast disparities no longer exist? 

Critics like to throw out the phrase “just pull yourself up by your bootstraps,” -- meaning that if you work hard, you can improve your position with your own efforts. But what they don’t understand is that many people in the Black community aren’t wearing any boots. They exist within a system that’s still inherently racist and oppressive; it has created a cycle of dependency that makes it infinitely more difficult even to get access to a pair of boots, especially compared to their white counterparts. It’s not a matter of not having the will or the talent to improve the lives of their families and communities. It’s a matter of navigating a system that isn’t designed for Black success.