Friday, July 17, 2020 / 07:17 AM / By Ahmed Sule* /
Header Image Credit: New York Post**
Below article discusses the neoliberal hijack of the current anti-black racism battle...
Following the global protests resulting from George
Floyd's public lynching, there has been a systematic neoliberal takeover of the
fight against anti-black racism. After a long period of racial silence, some of
the great bastions of capitalism in the Anglo-American world such as Big
Pharma, Big Banking, Big Technology and billionaires have found their voices.
These corporate entities have adopted a plethora of
strategies to demonstrate their seriousness in addressing anti-black racial
injustice such as the condemnation of racism, implementation of anti-bias
training for employees and committing to improving diversity. Some have taken a
market-based approach by making significant financial contributions to black
anti-racist organizations. So far, corporate America has pledged $1.7 bn to anti-racist organizations.
Corporate CEOs have written letters to their staff expressing their horror at
the racial violence inflicted on black bodies. The phrase "Black Lives
Matter" has been pasted on companies' websites along with links to books
about racism.
The sudden "wokeness" of these purveyors
of neoliberalism should be taken with a pinch of salt. There are several
reasons for the immediate interest in anti-black racism. Corporate entities
have chosen the path of least resistance by effectively reading the polls of
popular opinion. Anglo-Saxon corporates have often been uncomfortable in
addressing racism. With George Floyd's execution, the tide of the majority
opinion has now turned in favour of condemning anti-black racism. An August
2015 poll conducted by Rasmussen Reports revealed 78% of likely US voters had a
favourable view of 'all lives matter', and only 11% favoured black lives
matter. Another survey conducted by the same polling organization in June
2020 revealed 62%of likely voters had a favourable
opinion of Black Lives Matter.
This shift in sentiments makes it convenient to
jump unto the racial justice bandwagon with little risk. With their corporate
paymasters' new-found racial epiphany, celebrities who were previously silent
on anti-black racism are coming out of their shells.
Another reason for the sudden change is it makes
economic sense for these organizations to follow the racial tide. With opinion
polls bending towards racial justice, firms face the risk of losing out if
their values are not in line with its customers who may refrain from buying its
products. By embracing brand activism, companies can broaden their reach and
increase sales. Furthermore, self-preservation is another motive. As anti-black
racism is seared into our collective consciousness, the linkage between racism
and capitalism might come to the fore. By participating in the racial justice
movement, the elites might turn the direction away from the cause of racial
inequality to the symptom.
Black thinkers have discussed the connection
between racism and capitalism. Malcolm X once said, "You can't have
capitalism without racism." Martin Luther King analyzed the
interrelationship between the triplets of racism, economic injustice and militarism. Ibram Kendi, in his groundbreaking book How
To Be An Anti-racist described racism and capitalism as conjoined twins. Cedric
Robinson, a professor of Black Studies, coined the term racial capitalism,
which represents the social and economic gain derived from a person's racial
identity.
Capitalism has often thrived on a colour-coded
hierarchy of winners and losers. The result of Christopher Colombus expedition
in search of gold and spices which was financed by the King and Queen of Spain
was the genocide of Native Americans. One of the key drivers of the British
industrial revolution was textile manufacturing. The input for the imported
cotton came from the blood, sweat and tears of black slaves working on the
plantations of America. Some commentators have described slavery as the foundation
of American capitalism. Following the Berlin Conference of 1884, Britain,
Belgium, Portugal and France became economic powerhouses on the bent and broken
backs of black men and women in colonial Africa. A manifestation of the prison
industrial complex is the prevalence of black and brown people caged in the
prison cells of Britain and the US. Michelle Alexander, in her book The New Jim Crow, argues, "Prisons are big business
and have become deeply entrenched in America's economic and political system.
Rich and powerful people ...., have invested millions in private prisons."
Neoliberal tenets such as deregulation, veneration
of property rights, privatization, globalization, automation, tax cuts, austerity,
labour flexibility and free trade have led to increased inequalities which have
significantly impacted people of colour in the Anglo-Saxon world. On socio-economic issues such as education, health care, policing,
criminal justice, wealth disparity, and housing, blacks have found themselves
at the bottom of the socio-economic totem pole. There is a paradox when these
bastions of neoliberalism advocate for racial justice while at the same time
support an ideology that reinforces this inequality.
Big Banking has taken the lead in the clamour for
racial justice. Jamie Dimon, the CEO of JPMorgan Chase knelt to show his support for the Black Lives
Matter movement. Bank of America pledged $1bn over four years to help communities of
colour and minority-owned businesses address economic and racial inequality.
Goldman Sachs established a $10 million fund for racial equity. Morgan Stanley's CEO James Gorman was so
moved by the protests that he decided to promote two black women to the bank's operating and management
committees. Black senior executives in financial institutions who had been
reluctant to discuss racism have begun to speak out. Citigroup's CFO Mark Mason
wrote a blog detailing the dangers black Americans face in
their daily lives while a Goldman Sachs black managing director wrote an email on race which went viral.
Though these gestures might come across as
altruistic, it is crucial to carry out a racial cost/benefit analysis. Malcolm
X once said, "When someone sticks a knife into my back nine inches and
then pulls it out six inches they haven't done me any favor. And if they pull
that knife which they stuck in my back all the way out they still have not done
me any favor. They should not have stabbed me in the back in the first place."
Nine years before Jamie Dimon knelt in support of Black people killed by the
police, JP Morgan Chase, under his leadership donated $4.6 million to the New York City Police Foundation. Commentators described the gift (used to
purchase patrol car laptops and security monitoring software) as the "Largest
in the history of the foundation."
Financial institutions have been involved in
predatory lending practices which target people of colour. In 2011, Citigroup granted loans to black
Americans with rates 3.38-times more than other borrowers while Wells Fargo & Co and JP
Morgan Chase charged blacks borrowers 2.28 times and 2.21 times higher than
other borrowers. In 2017, the Department of Justice fined JP Morgan Chase $55
million for charging 53,000 Black and Latino
borrowers higher rates and fees on mortgage loans relative to white
borrowers. Bank of America, Wells Fargo and Citigroup have also settled lawsuits for discriminating against African
American and Hispanic customers. Financial institutions spent $2 billion during
the 2018 election cycle on lobbying and campaign contributions to overturn regulations meant to
protect customers from predatory lending practices and risky financial
decisions.
The global pharmaceutical industry is also
addressing anti-black sentiments. Johnson & Johnson, Novartis, Pfizer, and
AstraZeneca CEOs have all voiced their concern about racism. Johnson & Johnson and Regeneron pledged
$10 million and $3 million respectively to address racial inequality.
Paradoxically, Big Pharma is one of the leading lobbying industries and has been in opposition to
healthcare reforms and lowering of drug prices, which could benefit people of
colour who are on the wrong side of the health inequality divide. An investigation by Bath University revealed Big Pharma
poured 57m Euros into UK patient charities which could influence NHS drug
decision-makers.
In its short history, Big Technology has spoken up
on several social causes. Silicon Valley's presence has been felt in the
ongoing quest for black racial justice. Airbnb donated $500,000 to NAACP and the Black Lives
Matter Foundation. On Twitter, Amazon wrote, "Amazon stands in solidarity with
the Black community." It also made a $10m contribution to 11 black
human rights organizations. Nextdoor CEO, Sarah Friar, in a blog wrote, "Let me say it
unequivocally: Racism has no place on Nextdoor." Twitter's CEO Jack
Dorsey made a $3 million donation to Colin Kaepernick's Know Your Rights Camp.
On Linkedin, the social media professional networking platform, people have
been posting images of themselves holding cardboards with inscriptions like #I
am positive grateful hopeful #TalkAboutBlack.
But a fanciful hashtag should not be used gloss
over the role these organizations played and are still playing in perpetuating
racial inequality. There have been numerous instances whereby blacks have
been racially profiled on Airbnb and Nextdoor platforms.
Employees at Amazon have complained about the stringent targets they face,
which leads to them urinate in bottles or forgo toilet breaks. Amazon, IBM and
Microsoft only recently decided to stop selling facial recognition
software to the police. Amazon has frustrated attempts by its workers
to unionize. According to a report by Action Center on Race & the
Economy, Amazon has used its platform to spread white supremacy, anti-semitism,
and Islamophobia. People of colour residing near technology hotspots like the
broader Bay Area and Silicon Roundabout have found themselves priced out due
to gentrification.
Some billionaires have also been inflicted with the
"wokeness" bug. Bill Gates has vowed to fight systematic racism and said
black lives matter. Jezz Bezos, the world's richest man, has been transformed
into a race man. He made headline news when he called out a customer for racism. It is one
thing to talk the talk to end racial discrimination, but another to walk the
walk to end racial and social inequality. Gates and Bezos don't appear to be in
a hurry to support the reconstruction of an economic system which has resulted
in their combined wealth exceeding the total wealth of 47.8 million African
Americans. Paradoxically, Gates, who now says black lives matter also
sees Africa's population growth as a challenge. When Elizabeth Warren,
the former US Presidential candidate announced her plan to create a more
equitable society by unwinding tax cuts and imposing a wealth tax, she came
within the crosshairs of the billionaire class. Lloyd Blankfein, the senior
chairman at Goldman Sachs, responded to Warren in a racially insensitive
manner, "Maybe tribalism is just in her DNA." Other billionaires like Bill Gates
and Jamie Dimon also expressed concerns.
Where do we go from here?
The gesture from corporations and the ultra-rich is
not a vice, and it might be good intended. However, those on the forefront in
the fight against anti-black racism need to beware of Greeks bearing gifts.
Activists receiving funds from these purveyors of neoliberalism need to
exercise caution and ensure that s/he who pays the pier does not dictate the
tune. There should be proper accounting for the funds from corporate and
individual donors, and it should be used for its original purpose. Failure to
do so would bring the struggle into disrepute.
The anti-black racial campaign should continue to
be a bottom-up mass movement as opposed to a top-down led one. Campaigners
should draw the link between capitalism and racism and not allow it to be
hijacked by deep-pocketed benefactors who may try to downplay the role of
neoliberalism in perpetuating racial inequality. Big Pharma, Big Technology and
Big Banking should collectively make a public apology for their role in
championing an enabling environment that allows racial inequality and
anti-black racism to thrive. They should put their money where their mouth is
by putting pressure on government officials to create a conducive atmosphere
for racial equality and also call for a radical redistribution of wealth. Firms
like Goldman Sachs should use the influence of its alumni working in government
to bend public policy towards racial and economic justice. Firms should stop
obstructing healthcare and campaign lobbying reforms. The recent move by
corporates to boycott organizations like Facebook due to hate speech is a step
in the right direction. They should put pressure on media houses and think
tanks to refrain from promoting racial hatred and racial inequality. Big
technology organizations that gentrified communities of colour should invest in
affordable housing for those impacted.
A clear distinction needs to be made between
corporate diversity and racial equality. With the ongoing protest, corporates
are adopting token solutions towards racial equality by promoting a few black
faces in their organizations to showcase the progress they are making. Symbolic
gesture solves nothing other than creating a class of black faces in high
places. The current approach of diversity training, which is not challenging to
the status quo should be discontinued. Anti-black diversity training should be
separated from other strands of diversity, including racial diversity. Black
neoliberal minded professionals piggybacking on George Floyd's death to further
their career should question their motives and advocate for real change that
benefits all across the black social strata.
Finally, anti-black racial campaigners should ensure that the current movement does not in the words of Professor Cornel West become sterilized and santaclausified for a neoliberal audience. When Martin Luther King was alive, he was a thorn in the flesh to the racial and economic status quo. Upon his death, Big Business and politicians stripped his legacy of its revolutionary fervour and converted it to a 35-word soundbite made in Washington and now used to justify a colourblind world. If we let down our guards, this movement could be sterilized and santaclausified to a slogan, a hashtag, a knee, a token, a selfie and a fashion accessory - Timeo Danaos et Dona Ferentes.
About The Author
Ahmed Olayinka Sule is
a CFA Charterholder, photojournalist and social critic. He is an
Alumnus of the University of Arts, London; where he obtained a Certificate in
Photojournalism. He has worked on various photojournalism projects
including Obama: The Impact, Jesus Christ: The Impact, The Williams
Sisters etc. He can be contacted via e-mail at suleaos@gmail.com and via
Twitter @Alatenumo
Picture
Credit
** Jamie Dimon drops into Mt. Kisco Chase branch, takes a knee with staff https://trib.al/4ZxP2sG
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