We Need A New Black Economics

Atlanta Mayor Keisha Lance Bottoms, CPS CEO Janice Jackson and Bill and Melinda Gates

Covid-19 has changed the world, for all, everywhere.

I feel for government officials who have found themselves in the position of facing the devastation of this horrible disease in addition to government duties, not quite knowing what to do.

I am sure many are tired and will retire from the political rat race, as Keisha Lance Bottoms, Mayor of Atlanta, has done.  Some wonder if Chicago’s Mayor Lightfoot will do the same,

The pandemic has taken a toll everywhere, as we have seen, for example, with the Chicago Public Schools. Janice Jackson, CPS’ CEO, recently announced that she is leaving the system when her contract expires in June.

She has wrestled with the union, City Hall, the parents, the students, and the teachers, as zoom remote learning has become the solution for education, even though it promises to retard the educational process.

Enough already, many will say as they move to new career chapters. Covid has made us all look in the mirror of our lives to determine what’s really important.

As we observe the happenings and the histories of our time and reflect on the “new normal,” changes are positive and negative universally. Change is everywhere at every turn, from minor to major.

The Chicago Tribune company is turning to foundations and government to seek funding for what has been one of Chicago’s most important influencers and proper corporate citizens.

Electric cars are coming up the road. Billionaires are divorcing as the pandemic has forced couples to remain at home in their mansion and suddenly discover they should not be married, despite the money and the common goals.

We see new political faces as old ones fade away. We see American democracy challenged as Trump, the world-class buffoon, plot the next steps in an altered political world. And it goes on and on as the world resets.

For Black America, change is at the forefront. We are being redefined and inclusiveness is really happening.   Damn diversity, how about EQUITY.

The “Black problem” has always been the “White problem”, as racial suppression has been instituted and the reality of racism is addressed as the situation that they created seeks a solution.    The Black problem is the white problem, America’s greatest sin, and foundations and corporations are examining themselves in ways like never before as they seek positive change.

Meanwhile, Blacks are unashamedly and unapologetically writing stories from a Black viewpoint, and being read with appreciation.

Where Is The Black Economics?

 

As we address these issues, I am concerned that “we” establish Black economics. We see a lot of movement, but are we giving real economic justice to issues that can only be solved with solid economics?

Black America has been locked out of America’s prosperity on purpose and with deliberation, through practices like redlining, discrimination, special laws, housing, and the like, most particularly denial of capital for business creation and investment.

This is the core of racism. And now we must face serious issues that are economically grounded.

Confederate Gen. J.E.B. Stuart being removed in the city of Richmond, VA

So, what do we consider? Does it matter, for example, whether the statues of racists or confederates or slave masters stay up or come down?

We take a public vote and I ask, what do we do with the statues as they are removed. Do we put up new statues or do we hide them in museum basements and act like they don’t exist and then a certain period of history disappears?


Panoramic view of Lake Shore Drive and the former Johnson Publishing Building on Michigan Avenue

As Chicago councilmen consider changing the name of Lake Shore Drive to DuSable Drive, does it matter that the globally renowned landmark has a name change?

Or is the message a strong political one, saying to Mayor Lightfoot that the council does not agree with you and can vote beyond your expectation, where it appears you have no ruling voice?

Should consideration of the name change be given to the voters? Perhaps we should also consider State Street or Michigan Avenue or Millennium Park as we try to figure out the proper tribute for the Haitian founder of our city.

When we change street names, what really changes beyond the brown vanity street signs?

I drive down Michigan Avenue and see the Johnson Publishing Company sign and then view his pride and joy building now full of kitchenette-type apartments,  which he would have detested.

The Obama Library

President Barack Obama

We anticipate a real stimulus game-changer with the Obama Library, which plans its home in Jackson Park on the South Side. The area will change, but how?

We read about the Library garden that will reflect the garden that Michelle had in the White House with fresh fruits and vegetables.

Where is the change? Is this what we expect from a presidential library? Where are the president’s real papers and memorabilia?

Sounds like we are getting a fancy new venue where we will host meetings, conferences, and parties that will discuss political affairs, and host political/social events with grandiose intellectualism.

The conversation will be for emerging leaders with established leaders and the rich and the famous and the scholars and the historians will come to lecture as they connect to the University of Chicago.

Will there be restaurants and stores that produce real change in the area as property values sore because of proximity to the library?

I read an article in a mainstream paper that a retail store owner was about to open a restaurant on the South Side that would change the face of the community. One restaurant will bring at best good food to the area, but it will not be the substance of change.

We need a Black Marshall-type Plan that will generate economic stimulus and change, that will bring housing, retail and restaurants and theater, and clubs to a vibrant community, with gourmet shops and boutiques and the like and produce a new generation of entrepreneurs.

This means money. This equates to new economic thinking where innovation thrives. This means banks opening their doors to Black businesses, without restriction,   As we talk about development in this city we still view Black communities with a  social service mentality.   We have to move beyond What black needs great white father mentality.  We consider the Cubs placing a sports facility for youth on the West Side, where there is no major grocery store.  Where are Mariano’s, Jewels, and Costco?  The center might produce future ballplayers and take kids off the street, but what is the economic value of such a facility for the community?   Jobs will take kids off the street too.     As we look on the far south side of the city where steel mill factories once lived we bring the super dump to the 10th Ward, which will heighten environmental issues, so much so that the federal government says stop.   Where is the chip factory for the new electric cars?

As we look at Macy’s departing its flagship store on the Magnificent Mile at Water Tower Place, replacement consideration is the mid-level store Target, which is an absolute misfit.   So, how about out-of-the-box thinking with creativity.   For example, think New York’s Bergdorf Goodman or London’s Harrods?  These stores would have shoppers flying in to shop Chicago and the magnificent mile would qualify again for magnificence.  Think of Chicago as world-class, right.    So, what would it mean if an Apple store was in Hyde Park near the University of Chicago or on the West Side near the University of Illinois.  As we look at economic development, what are we really saying for the South and West Side initiatives?  Are we looking at gentrification or community revitalization?    Be real, please as we take a step beyond traditional what’s good for Black folk thinking.

Only if we begin to bring real economic change will the substance of the Black community really change as we seek completeness, wholeness, and fullness living in the city with broad shoulders.

Yes to the change, but what do we change to?

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