A lesson in economic violence
J.D.'s note: Last September, I wrote that I didn't believe the world of personal finance needed more politics. I acknowledged that there were vast systemic issues that hold people back, but I argued that personal finance is personal.
While I still believe that individual action is (and always will be) the primary driver of financial success, my "no politics" stance has softened. No, that doesn't mean that Get Rich Slowly is suddenly going to change into a politics blog. That's not who I am. But it does mean that I'm willing to address political issues that affect our finances. (And, to be clear, I'm open to addressing these from both liberal and conservative perspectives.)
Right now, at this moment in time, it's important to talk about the issues black Americans face. It's important to talk about why there's so much anger -- and how a huge portion of our population has been disadvantaged for so long. (And continues to be disadvantaged!)
To that end, here's the amazing Lynnette Khalfani-Cox -- The Money Coach -- with a lesson on economic violence in the United States. (This originally appeared as a post in Lynnette's Facebook feed.)
The tragic murder of George Floyd highlighted the heinous reality of racism, police brutality, and the legacy of racial violence in America. But if we're going to truly address this country's ills, we must name, condemn and fix economic violence too.
First, a definition.
Economic violence occurs when one party disenfranchises, subjugates, or financially abuses another party. Any person or entity in power can commit economic violence. This includes individuals, companies, organizations, governments, institutions, or systems.
Clearly, many individuals and groups may be subjected to economic violence, such as LGBTQ people, immigrants, or women.
But today I want to talk specifically about the economic violence that African-Americans have endured for more than 400 years in these United States.
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