U.S. markets closed
  • S&P Futures

    4,389.00
    -32.75 (-0.74%)
     
  • Dow Futures

    34,150.00
    -312.00 (-0.91%)
     
  • Nasdaq Futures

    15,229.50
    -96.50 (-0.63%)
     
  • Russell 2000 Futures

    2,205.80
    -22.50 (-1.01%)
     
  • Crude Oil

    71.31
    -0.66 (-0.92%)
     
  • Gold

    1,749.00
    -2.40 (-0.14%)
     
  • Silver

    22.16
    -0.18 (-0.81%)
     
  • EUR/USD

    1.1716
    -0.0015 (-0.13%)
     
  • 10-Yr Bond

    1.3700
    +0.0390 (+2.93%)
     
  • Vix

    20.81
    +2.12 (+11.34%)
     
  • GBP/USD

    1.3707
    -0.0030 (-0.22%)
     
  • USD/JPY

    109.8700
    -0.0250 (-0.02%)
     
  • BTC-USD

    46,075.54
    -1,954.32 (-4.07%)
     
  • CMC Crypto 200

    1,151.85
    -73.68 (-6.01%)
     
  • FTSE 100

    6,963.64
    -63.84 (-0.91%)
     
  • Nikkei 225

    30,500.05
    +176.75 (+0.58%)
     
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Economic recovery should ‘be targeted’ toward have nots: Michael Eric Dyson

In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

'Long Time Coming' author Michael Eric Dyson joins 'Influencers with Andy Serwer' to discuss income inequality and the racial weath gap.

Video Transcript

ANDY SERWER: Let's talk about wealth and income inequality, disproportionately affecting people of color. And should the economic recovery measures be targeted therefore to these people? And if so, how can that be done? It's a tough one.

MICHAEL ERIC DYSON: Yeah. Well, yeah, they definitely need to be targeted toward the less fortunate and the have-nots versus the have-gots. They're all kind of-- see, but, you know, you got to get beyond the obsession with "the socialism." Dr. King said, "We got socialism for the rich and free enterprise for the poor." Right. The ones who are really getting socialism and communism are those up at the top who are distributing their cash among themselves.

There are many redistributive mechanisms to those who are beneath. Look at our housing policies. If housing is the entree into the middle class, that's a huge mechanism of economic wealth that can be measured. And we can do stuff about opening up housing markets, making them more equitable, standing with the Supreme Court saying that certain practices is not just the consequence.

It used to be, I mean, the intent. Like if you had an intent to harm somebody with housing or be prejudiced toward them, OK, you were wrong. But if the consequence was that they were still harmed, so what? The Supreme Court said no, you've got to look at consequences as well. So outcomes are as just as important as intent. That's one way.

Another way is these educational disparities. If there is a correlation roughly hewn between what kind of education you have and what kind of money you make, then it would behoove us to enforce certain educational practices that pay attention to the least of these. And if the tax base is the determinant for education in so many arenas, then the government, which has been a beneficiary of a kind of, you know, Jim Crow approach, an apartheid, racially speaking in the past to fill its coffers for white education versus a black one, then we owe some money toward those people who are at the bottom of the totem pole.

And then figuring out what kind of jobs and job training could help black and indigenous and Latinx people to get higher up on the totem pole. Those are a few things that can be done. And stop the voter suppression. That would be a huge thing. Now those things get far in courts, but they can also-- the attorney general can have engagement with these issues on local municipalities.

And finally, in terms of policing, you know, under Obama, Eric Holder and then Loretta Lynch, but especially Eric Holder was talking about these consent decrees and looking at these police departments. And it's another thing to be done again to look at them, because police departments are extracting all kinds of monies-- look at Ferguson, Missouri-- all kind of money from the local people, making their coffers filled, while depleting the resources of poor people on the ground. Those are a few ways and few things we can do to make sure that we can target those monies toward the most vulnerable.