Happy Friday!
My husband listens to countless financial podcasts every week, and it’s sort of a running joke in our house. But man, am I glad for his obsession because of this exceptional episode of NPR’s Planet Money that he shared with me!
https://www.npr.org/2020/10/05/920342513/rethinking-black-wealth
Andre Perry, a fellow at Brookings Institution, starts the episode by discussing a report from the 1960’s that demonstrates how a well-intentioned, liberal politician cannot overcome his own perspective and bias in understanding the roots of racial inequality. The conclusion of the report drove public policy for decades, but Perry makes it his mission to de-bunk the conclusions and lays out a better, data-driven path forward.
One powerful takeaway is when Perry outlines a Vietnamese philosopher’s quote that beautifully explains systemic racism in a tangible way. He says to think about a head of lettuce growing in the soil. If the lettuce stops growing, a farmer doesn’t blame the head of lettuce. The farmer looks into what’s happening with the soil and the amount of sun and water. Perry says, “When we talk about black communities and a lack of growth, we blame the lettuce.”
Here’s the NYT article Perry mentions that outlines the bias in home appraisals: https://www.nytimes.com/2020/08/25/realestate/blacks-minorities-appraisals-discrimination.html
Have a great weekend,
Jessica