Feb. 22, 2026

The Plunder of Black America Featuring Dr. Calvin Schermerhorn

The Plunder of Black America Featuring Dr. Calvin Schermerhorn
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The Plunder of Black America Featuring Dr. Calvin Schermerhorn

In this episode, Historian Calvin Schermerhorn discusses his recent book, The Plunder of Black America, and the significance of the racial wealth gap.

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Host Erik Fleming interviews historian Dr. Calvin Schermerhorn about his book The Plunder of Black America, tracing how slavery, Jim Crow laws and 20th-century public policies combined to create and sustain the racial wealth gap through individual family stories and economic analysis.

The episode also features reflections on the late Reverend Jesse Jackson Sr., and a discussion of remedies — including reparations and targeted public policy — to begin closing the wealth divide.

00:05 - Welcome to A Moment with Erik Fleming

01:16 - News Briefing with Grace G

05:58 - Introducing Dr. Calvin Schermerhorn

06:56 - The Racial Wealth Gap Explained

08:40 - Insights from Jesse Jackson’s Quote

09:52 - Icebreaker: 20 Questions

11:09 - Motivation Behind the Book

14:40 - Stories of Historical Figures

32:01 - The Rivers Family’s Struggles

32:18 - Public Policy and the Prathers

50:18 - Reflecting on Reverend Jesse Jackson

WEBVTT

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Welcome. I'm Erik Fleming, host of A Moment with Erik Fleming, the podcast of our time.

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I want to personally thank you for listening to the podcast.

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If you like what you're hearing, then I need you to do a few things.

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First, I need subscribers. I'm on Patreon at patreon.com slash amomentwitherikfleming.

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Your subscription allows an independent podcaster like me the freedom to speak

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truth to power, and to expand and improve the show.

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Second, leave a five-star review for the podcast on the streaming service you

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listen to it. That will help the podcast tremendously.

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Third, go to the website, momenterik.com. There you can subscribe to the podcast,

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Tell someone else about the podcast. Encourage others to listen to the podcast

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and share the podcast on your social media platforms, because it is time to

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make this moment a movement.

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Thanks in advance for supporting the podcast of our time. I hope you enjoy this episode as well.

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The following program is hosted by the NBG Podcast Network.

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Hello, and welcome to another moment with Erik Fleming. I am your host, Erik Fleming.

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And so today is going to be a short day. As far as the podcast goes,

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I have one distinct guest.

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We're going to be talking about the racial wealth gap in America.

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This young man has written a book from a historical perspective.

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And I think you'll get a lot out of that interview.

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So, yeah, and I'm going to be talking about some reflections I have about the

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passing of Reverend Jesse Jackson Sr.

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You know, by the time this comes out, a lot of people would have said,

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but they needed to say and all that.

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But yeah, I've got a couple of things I want to add to that.

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But make sure y'all are subscribing or supporting the podcast in any way you

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can. You can go to www.momenteric.com to do that.

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Again, in these times, the podcast of our time needs your support.

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And independent podcasters like me need your support. So please do that if you have not done that.

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And without any further ado, let's get this show started. And as always,

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we kick it off with a moment of news with Grace G.

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Thanks, Erik. Andrew Mountbatten Windsor, brother of England's King Charles,

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was arrested on suspicion of misconduct in public office following allegations

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that he shared confidential government documents with Jeffrey Epstein during

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his tenure as a trade envoy.

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Dr. Linda Davis, a Savannah, Georgia elementary school teacher,

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was killed when a man fleeing federal immigration officers ran a red light and

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crashed into her vehicle near her school.

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A federal judge ordered the National Park Service to reinstall a slavery exhibit

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at a Philadelphia historic site while the city's lawsuit against the Trump administration's

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removal of the display proceeds.

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A federal judge has issued a nationwide ruling striking down the administration's

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mandatory detention policy for migrants.

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Tricia McLaughlin is leaving her role as the lead DHS spokesperson amid criticism

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of the agency's communication strategy

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and shifting public opinion on the administration's immigration policies.

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A judge declared a mistrial for five Stanford University students after a jury

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deadlocked on felony charges stemming from a 2024 pro-Palestinian protest at

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the school president's office.

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A federal judge has ordered the Trump administration to facilitate the return

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of a Babson College student who was deported to Honduras.

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Approximately 100 U.S. military personnel have arrived in Nigeria to provide

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training and intelligence support to local forces as part of an expanded operation

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against Islamist insurgents.

00:05:00.985 --> 00:05:06.325
President Trump's proposed $400 million White House ballroom received approval

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from the U.S. Commission of Fine Arts.

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Federal lawmakers officially renamed the U.S. House Press Gallery in honor of

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the legendary abolitionist Frederick Douglass.

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And Jesse Jackson, the influential civil rights leader, two-time Democratic

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presidential candidate, and protege of Dr.

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Martin Luther King Jr., died at the age of 84.

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I am Grace G., and this has been a Moment of News.

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All right. Thank you, Grace, for that moment of news.

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And now it is time for my guest, Dr. Calvin Schermerhorn.

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Calvin Schermerhorn grew up in Southern Maryland, and after receiving a divinity

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degree at Harvard and a PhD at the University of Virginia,

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he became a historian of United States slavery and racial economic inequality.

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His latest book, The Plunder of Black America, How the Racial Wealth Gap Was

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Made, was published in 2025, and that's what we're going to be talking about on the podcast.

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So ladies and gentlemen, it is my distinct honor and privilege to have as a

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guest on this podcast, Calvin Schermerhorn.

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All right. Dr. Calvin Schermerhorn. How are you doing, sir? You doing good?

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Very well. Pleasure to be on with you, Mr. Fleming. Well, it's a pleasure to have you on.

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Now, I noticed some people call you Jack. How do we get Jack out of Calvin?

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Ah, my parents named me Jack, and in college, adopted this nickname.

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It's kind of a silly story, but I went with it. So my professor started calling me that.

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I started publishing under Calvin, and it's kind of stuck.

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So that's it.

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All right. Well, yeah, I know nicknames stick, especially in college and high school.

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That's usually when people get their nicknames.

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I just thought that was interesting. But I want to get into this discussion

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with you about a book that you've written called The Plunder of Black America,

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how the racial wealth gap was made.

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I think that's a very timely book, and I am really glad that you wrote it.

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And before we really get into the meat of that, I do what I call the icebreaker section.

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So the first icebreaker is a quote I want you to respond to.

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And this is from the Reverend Jesse Jackson.

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He said, there is no commitment to economic development. It seems in the black and brown communities.

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Some black people want jobs, but many black people want wealth.

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They don't go to school to study business administration and finance and banking just to get a job,

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but to build banks and to build insurance companies and to have a stake in the

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revival of the areas in which they live. What's your response to that quote?

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Wisdom from a towering personality, a politician and a leader we sadly lost this week.

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And what it does is it cuts to the heart of the matter that this book addresses,

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which is that it's not just the value of work, virtue being its own reward.

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It's building something that deals with the future, that deals with hope,

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that deals with betterment. I mean, it deals with the American dream.

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The American dream isn't just a toil and honest labor.

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It's to build something for future generations. It's to leave your family,

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your community, kids with something better than what you started with.

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So that's a keen insight from someone who saw the, you know,

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the big picture and communicated. Yeah.

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All right. So now the next icebreaker is what we call 20 questions.

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So I need you to give me a number between one and 20.

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Fifteen. All right. When you think about the challenges our country faces, what gives you hope?

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It's the resiliency and it's the creativity of the rising generation,

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the resiliency to kind of deal with what we collectively in our generation have

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placed upon their shoulders. And also to think differently.

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Think forward, think sideways, think about the patterns that can be broken,

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the possibilities that they can reach.

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When I give talks to church groups and others, I often end on a kind of an unhopeful note.

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And I've been told in the past, well, why do you end on that unhopeful note?

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And I say, well, that's where the evidence seems to go.

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But with kids, you know, a 15-year-old and a 13-year-old, I don't think that's

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tenable or sustainable.

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We can't just say, well, based on the past evidence, we're just going to go

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over the cliff or we're going to go into the, you know, hit the rocky shoals.

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How about we think about steering the ship in a different direction?

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And so that's why I responded that way. Yeah.

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All right. So what motivated you to write this book?

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I was trained as an academic, but also grew up in a place that was trying very

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hard to forget its racist past, its past of enslavement.

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I'd pass tobacco fields on the way to elementary school and see African-American workers there.

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I would go, you know, do a project in high school to see how those,

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the tobacco is being stemmed.

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There were black workers in those barns. Now they're being replaced by migrant

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workers, people who were speaking Spanish and often and mine as a first language.

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And so as I learned about the history of the South, the history of enslavement,

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I was publishing on these issues, I kept running into this curious response

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that is, well and good, you're studying slavery.

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You're looking at this institution that was maybe the original sin of the American

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Republic, that it was something that we had to work as a nation to get rid of,

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to constitutionally exclude by the 13th Amendment.

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And I noticed that the more Or that response led to another kind of interesting,

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you know, sort of mental leap, which was that once you get rid of slavery,

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well, the laws of economics and maybe the politics of equality are going to

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work their way through the American system so that by maybe not in 1870,

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but maybe by 1970, you'd have something approaching equality.

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That just didn't happen.

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We'd look at things like, or

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I'd look at things like land ownership among formerly enslaved Virginians.

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And sure enough, by 1900, you know, a high proportion of black households in

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Virginia owned their own property, owned their own land.

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And a lot of historians would say, well, look at that. You know,

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there you have this equalizing tendency.

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But then you start to read political economy, especially black political economy

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by scholars like William A.

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Sandy Darity and Derek Hamilton, who are finding these staggering,

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staggering wealth inequalities that persist and grew.

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They grew at the same time the United States became more wealthy than any time

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before, probably afterwards.

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And so as I was putting these dots together, I'm thinking, what's the big story here?

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How is it that we can talk in one breath about equality, the end of enslavement,

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the rise of civil rights, a second American founding,

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to use the formulation of many historians, and then look around and see a staggering

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and persistent wealth inequality. How does that work together?

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And so the book attempts to go back over 400 years and look at the patterns

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that established that and to try and understand this process historically.

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So part of what that involved is looking at individual households and generations.

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So that we don't just isolate one variable.

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We can't just throw up a banner headline saying, well, if inequality needs to

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close, we need to address education, or the wealth gap is all about homeownership.

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Or, well, we need to address inequities in credit reporting,

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or we need to end job discrimination.

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Yes, it's all of these, but I wanted to work on a history that showed how all

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of these factors work together to be mutually reinforcing constraints on uplift over the generations.

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Thinking about the quote from Jesse Jackson. Yeah.

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So like you said, you divided the book into stories about African-American individuals

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and families and how their experiences explain the racial wealth gap.

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So let's start with one of George Washington's slaves, Morris,

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and how the theft of his income contributed to the structural feature of the colonial economy.

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Sure. So let's start with Morris. I couldn't find his last name.

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This is someone whom George Washington enslaved for decades.

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He called one of his farms on the Mount Vernon plantation complex Morris's.

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Never recorded his last name.

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So to go back into Morris's life, he was born in the tidewater of Virginia, I think around 1729.

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He grew up the property of John Custis IV. How did that make him George Washington's bondsman?

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Well, Custis' son, Daniel Park Custis, married a young Martha Dandridge.

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Martha Dandridge was a teenager at the time. They had four children.

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Daniel Park Custis died in his 40s. Martha remarried George Washington.

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Martha was the wealthiest widow in Virginia at the time, and Morris was enslaved. to her estate.

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So that is to her and her surviving children. So Morris grew up in the Tidewater, Virginia.

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And I think if he was free, he would have raced ahead of his contemporaries.

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By all accounts, he was smart, ingenious, clever.

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He had leadership capacity and he knew his craft very well.

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And so he was an expert carpenter at a time when there was quite a skills premium.

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If you were a free white carpenter, you could live what we'd call a comfortable

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middle-class existence.

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He'd probably own his own farm, own his own shop, you know, he'd provide for his children.

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So that didn't happen. When George and Martha married in 1759,

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George decided he was going to renovate his family property,

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Mount Vernon, into an elegant mansion befitting a kind of aristocrat from Virginia.

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And he had Morris do that. And if you go to Mount Vernon today,

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they just did a big reno on the main house.

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You could see some of the exposed timber work that Morris probably crafted using his skills.

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So George Washington, we know him as the founder of the United States,

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Continental Army leader, president, etc.

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He was first and foremost an agricultural innovator.

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He read British agricultural literature. He worked to turn Mount Vernon from

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a tobacco farm that was maybe no different than any other tobacco farm on the

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Potomac River to an integrated agricultural complex that had 60 crop varieties,

00:16:47.778 --> 00:16:51.858
was adding value to products through grist mills,

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through milling, through distilling.

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The Virginia whiskey industry is now kind of firmly on the back of George Washington, the distiller.

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And he needed leadership and he needed talent.

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Now, George Washington tried to do this through hired white overseers,

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but it pretty much failed.

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These guys would come in, steal his property, misdirect, maybe not,

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you know, pay half attention to the concerns on the farm, and then go leave for their own property.

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Their own household, their own ends. They didn't want to work for Washington.

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They wanted their own plantation. Well and good.

00:17:30.383 --> 00:17:35.503
So after decades of this, Washington turned to Morris and he said,

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okay, you have been a leader.

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I'm imagining this conversation in the ranks, in this carpentry team.

00:17:42.183 --> 00:17:46.443
Now I want you to run Doug Run Farm. I want you to manage that property.

00:17:46.723 --> 00:17:49.943
And Morris, well, he's enslaved, so what can he do, right?

00:17:50.103 --> 00:17:54.403
No, sir, thank you. I would rather be free and manage my own farm like the series

00:17:54.403 --> 00:17:56.343
of overseers I'm taking over from.

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So Washington had it. He had him, you know, he had a kind of an awful bargain.

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He said, Morris, I know you're married to Hannah. I don't really let married

00:18:06.923 --> 00:18:08.743
people live together. That's not efficient.

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That doesn't, you know, we're down to the benefit of my plantation.

00:18:11.543 --> 00:18:17.003
But if you do superintend Dogron Farm, you and Hannah and live together in an old farmhouse.

00:18:17.712 --> 00:18:22.972
So that's what Morris did for 20 years or so he managed his farm.

00:18:23.252 --> 00:18:27.572
And it doesn't sound like a hard, you know, hatch to manage at first,

00:18:27.752 --> 00:18:31.572
but he managed through adversity, through natural disasters,

00:18:31.832 --> 00:18:33.652
through floods, through hot summers.

00:18:33.892 --> 00:18:37.312
He had to reclaim enslaved workers who ran away.

00:18:37.572 --> 00:18:42.512
People whose feet were frostbitten, people who were forced to work through pregnancy

00:18:42.512 --> 00:18:47.372
and early childbirth, people who were just forced to work, right, relentlessly.

00:18:47.712 --> 00:18:51.872
George Washington was a micromanager. He'd take a ride around Mount Vernon to

00:18:51.872 --> 00:18:53.892
make sure his orders were being carried out.

00:18:54.012 --> 00:18:57.352
And he was fairly relentless in that regard.

00:18:57.552 --> 00:19:01.332
And there are stories that circulate that, oh, George Washington was a kind

00:19:01.332 --> 00:19:05.552
and, you know, forbearing master, but come on, right?

00:19:05.792 --> 00:19:10.052
We can see what's happening here. So Morris responded as best he could.

00:19:10.272 --> 00:19:15.192
He made a go of Dobrun Farm, which Washington over time called Morris's.

00:19:15.552 --> 00:19:19.692
And in order to encourage him, Washington paid him a stipend,

00:19:19.872 --> 00:19:25.512
which was about one-tenth what he would pay an overseer, a hired overseer.

00:19:25.792 --> 00:19:28.232
And so the farm became a success.

00:19:28.752 --> 00:19:33.892
Morris and Hannah lived together for many seasons. And by the time the War of

00:19:33.892 --> 00:19:38.672
Independence came, hard times hit Mount Vernon, just like they hit the rest of America.

00:19:39.072 --> 00:19:45.492
Americans lost about 30% of their incomes during the revolution and shortly afterward.

00:19:46.645 --> 00:19:51.025
You know, by that time, Morris and Hannah were in their 50s, 40s and 50s.

00:19:51.545 --> 00:19:53.625
You know, what were they going to do? Run away to the British.

00:19:53.905 --> 00:19:55.925
Some people did, but they were promptly returned.

00:19:56.265 --> 00:20:02.065
And so the story shows how over a lifetime, Washington's enterprise,

00:20:02.305 --> 00:20:08.605
it was suck the income potential, suck the potential wealth out of Morris and

00:20:08.605 --> 00:20:10.725
Hannah and everybody like that.

00:20:10.725 --> 00:20:17.665
And were it not for that constraint, that enslavement, we can imagine this couple

00:20:17.665 --> 00:20:25.545
being landowners, citizens, people who are active in shaping the Commonwealth of Virginia.

00:20:25.865 --> 00:20:31.925
That didn't happen. And we make a lot about George Washington setting 123 people

00:20:31.925 --> 00:20:35.445
free in his will after Martha passed away in 1802.

00:20:36.105 --> 00:20:42.105
But even that didn't really help Hannah, who by that time was a widow of Morris

00:20:42.105 --> 00:20:45.705
and may have gone free, probably did.

00:20:45.845 --> 00:20:50.465
But at that time, she was a burden on others and didn't have much of a life of her own.

00:20:50.685 --> 00:20:54.945
And so we see these stories again and again, this potential that's harnessed,

00:20:55.125 --> 00:20:59.845
this wealth generating potential that's harnessed to the greater wealth of someone

00:20:59.845 --> 00:21:04.645
like George Washington, who left every single acre of his property to his white

00:21:04.645 --> 00:21:07.465
heirs, even though he had no natural children of his own.

00:21:07.485 --> 00:21:14.945
They were the offspring, the grandchildren of Martha and John Park Custis.

00:21:15.585 --> 00:21:20.945
Yeah, because it was something you said in the book that somebody of Morris'

00:21:21.165 --> 00:21:23.305
skill set probably would have made.

00:21:24.320 --> 00:21:30.940
In their lifetime, about 9,000 pounds sterling, which doesn't sound like a whole

00:21:30.940 --> 00:21:34.360
lot, but we're talking about the 1700s.

00:21:34.860 --> 00:21:43.380
So that would have put him, like you said, in an upper middle class bracket during that time.

00:21:43.820 --> 00:21:48.240
The Rivers family, they lived in an era W.E.B.

00:21:48.360 --> 00:21:53.760
Du Bois described as a moment when the slave went free, stood a brief moment

00:21:53.760 --> 00:21:57.480
in the sun and then moved back again towards slavery.

00:21:57.740 --> 00:22:02.740
Talk about the impact of Jim Crow era on Blackwell.

00:22:03.080 --> 00:22:09.400
Yes, this was in many ways one of the most heartbreaking chapters because it

00:22:09.400 --> 00:22:14.300
shows the possibilities for freedom after emancipation,

00:22:14.780 --> 00:22:21.500
during Reconstruction, and it shows how very quietly, the forces of plunder gathered.

00:22:21.820 --> 00:22:25.280
And so this is the Rivers family of South Carolina.

00:22:25.600 --> 00:22:29.660
They were, you know, if you want to say, let's put them on an ethnographic map.

00:22:29.820 --> 00:22:33.100
They may not have called themselves Gullah people, but they were Gullah.

00:22:33.420 --> 00:22:38.460
So they were descended from West African forced migrants, enslaved people brought

00:22:38.460 --> 00:22:42.820
over in the 18th century to work South Carolina rice plantations.

00:22:43.020 --> 00:22:47.860
And there are Rivers families in Beaufort County, South Carolina.

00:22:48.080 --> 00:22:52.040
This is the branch of the Rivers family in Berkeley County, South Carolina,

00:22:52.180 --> 00:22:53.340
just north of Charleston.

00:22:54.091 --> 00:23:00.271
So they were enslaved, freed, you know, by the 13th Amendment.

00:23:00.691 --> 00:23:03.751
And here's the critical thing.

00:23:03.971 --> 00:23:07.591
By 1868, South Carolina, which had

00:23:07.591 --> 00:23:12.071
a black majority, was one of the most progressive states in the country.

00:23:12.511 --> 00:23:17.231
South Carolina instituted public education that, yes, was segregated.

00:23:17.231 --> 00:23:24.031
But by the early 1870s, they were spending almost equal dollars per student to go to school.

00:23:24.391 --> 00:23:28.171
So Hector Rivers went to school. He learned how to read and write.

00:23:28.351 --> 00:23:36.311
He began to distinguish himself from other farmers and that he was successful. He generated a surplus.

00:23:37.151 --> 00:23:41.031
South Carolina had what they called a land commission, which divided up old

00:23:41.031 --> 00:23:46.931
plantations and sold it off in family-sized parcels and gave them mortgage credit.

00:23:47.231 --> 00:23:50.871
The Freedman's Bank, the Freedman's Savings and Trust Company was a savings bank.

00:23:51.031 --> 00:23:54.931
It didn't issue mortgages. Most banks at the time did not issue mortgages.

00:23:55.071 --> 00:23:59.551
In fact, in the national banking era, to be a little bit wonky,

00:23:59.771 --> 00:24:02.611
national banks did not give retail loans.

00:24:02.771 --> 00:24:06.991
If you wanted free land, if you wanted reduced price land, you got to go get

00:24:06.991 --> 00:24:09.171
up in some of that homesteading land.

00:24:09.331 --> 00:24:15.331
That required you to move out of state. So in the Sea Islands of South Carolina,

00:24:15.771 --> 00:24:22.911
the Rivers family managed to get a little over 100 acres of property in a place

00:24:22.911 --> 00:24:24.531
where there's lots of mosquitoes,

00:24:24.911 --> 00:24:31.071
there's lots of alligators and pests, but they're able to make a living as a small farming family.

00:24:31.999 --> 00:24:38.379
So what happens? In the 1880s, right after South Carolina is so-called redeemed

00:24:38.379 --> 00:24:41.299
by white conservatives, they start passing laws.

00:24:41.519 --> 00:24:48.219
The laws seem to be colorblind at first, but they pass something called an eight ballot box measure.

00:24:48.519 --> 00:24:53.039
That means that for each of the eight offices that you went to the polls to

00:24:53.039 --> 00:24:57.639
elect, you had to put the right ballot in the right box. And to do that, you needed to read.

00:24:58.019 --> 00:25:03.259
So that was no problem for Hector Rivers, he could do that, but his children

00:25:03.259 --> 00:25:04.699
may not have been able to do that.

00:25:05.335 --> 00:25:10.395
So there was this issue with literacy. South Carolina said, well,

00:25:10.455 --> 00:25:12.575
that doesn't disenfranchise Black people enough.

00:25:12.695 --> 00:25:18.195
Let's pass a measure redistricting South Carolina to group Black voters like

00:25:18.195 --> 00:25:21.235
those in Berkeley County, which was about 80% African-American,

00:25:21.475 --> 00:25:25.355
in their own gerrymandered district, so that's going to dilute the Black vote

00:25:25.355 --> 00:25:27.275
and swing the legislature back

00:25:27.275 --> 00:25:32.315
to a white minority rule, which they did successfully also in the 1880s.

00:25:32.315 --> 00:25:38.915
So step by step, they're reversing the advancements of Reconstruction.

00:25:39.195 --> 00:25:43.995
And by 1895, South Carolina decides we just need a new constitution because

00:25:43.995 --> 00:25:49.375
it's tiresome passing all these ad hoc rules to disenfranchise and demote black people.

00:25:49.535 --> 00:25:53.015
Let's just pass a constitution that does it all in one fell swoop.

00:25:53.015 --> 00:25:56.595
And this is exactly what happened.

00:25:56.775 --> 00:26:04.795
So by 1900, by 1908, a very small proportion of African-Americans in South Carolina are voting.

00:26:04.995 --> 00:26:11.355
And this comes with another problem, which is how do you maintain hold on your property?

00:26:11.355 --> 00:26:16.415
You and I know that if we don't pay our property taxes, if we don't do what

00:26:16.415 --> 00:26:20.815
we need to do to maintain our property holdings, the state will come and take

00:26:20.815 --> 00:26:24.735
it, whether it's an auto, whether it's real property, what have you.

00:26:25.715 --> 00:26:31.215
So Gullah people, you know, they could say, well, okay, we're losing the courts,

00:26:31.435 --> 00:26:33.575
we're losing the votes, we're not losing our family.

00:26:33.755 --> 00:26:38.875
And so the Rivers family held on to a place they were now calling Pinefield

00:26:38.875 --> 00:26:43.255
through parceling it down in family allotments.

00:26:43.495 --> 00:26:48.815
Okay, so this son, this daughter, this couple gets this part of the family property

00:26:48.815 --> 00:26:52.995
and this son, this daughter, this couple gets another part of the family property.

00:26:53.839 --> 00:26:57.679
Another thing's happening at the same time, which is that truck farming or commercial

00:26:57.679 --> 00:27:01.739
farming is coming in and changing the agriculture in coastal South Carolina.

00:27:02.099 --> 00:27:06.879
So instead of growing, you know, wheat and corn, or you're growing some amount

00:27:06.879 --> 00:27:10.599
of rice or cotton, now the big market is for veggies, which you could put on

00:27:10.599 --> 00:27:13.379
a train, send up to New York City, it's going to be a lot more profitable,

00:27:13.739 --> 00:27:16.759
except big farming companies are coming in, buying up the land,

00:27:17.019 --> 00:27:18.859
evicting the migrant workers, etc.

00:27:18.859 --> 00:27:25.419
So if we go down to the 1970s and 80s now, we have third, fourth,

00:27:25.539 --> 00:27:29.619
fifth generation descendants of Hector Rivers occupying this land.

00:27:29.819 --> 00:27:33.939
They've shipped it away from farming. They're taking the ferry to Charleston

00:27:33.939 --> 00:27:40.019
to work in the Navy yard, to work in a fertilizer factory, to do something other than farming.

00:27:41.279 --> 00:27:46.359
So what happens by the 1990s is Charleston's growing.

00:27:47.019 --> 00:27:51.399
Suddenly, Pinefield looks like it's going to make a good suburban development.

00:27:51.779 --> 00:27:56.379
And real estate, white real estate developers get interested in what is now

00:27:56.379 --> 00:27:58.019
called heirs' property.

00:27:58.459 --> 00:28:03.839
So heirs' property is this common phenomenon that happens in different places

00:28:03.839 --> 00:28:10.199
in the South under different frameworks of law, but that designates family property

00:28:10.199 --> 00:28:12.519
that's been passed down without clear title.

00:28:12.519 --> 00:28:20.019
So by the 1990s, an intrepid lawyer gets one of the river's descendants to sue.

00:28:20.319 --> 00:28:24.999
And under South Carolina law at the time, if that descendant decides that she's

00:28:24.999 --> 00:28:29.399
going to sell her fractionalized ownership of that piece of pine field,

00:28:29.539 --> 00:28:31.279
it forces the settlement of all of it.

00:28:32.126 --> 00:28:35.426
Now, this does two things to this nest egg.

00:28:35.586 --> 00:28:40.106
It cheapens it because if you're selling property without a clear title,

00:28:40.326 --> 00:28:43.086
it's going to be way below market value.

00:28:43.566 --> 00:28:48.406
And the other part, which scholars have picked up on, property in black hands

00:28:48.406 --> 00:28:53.266
is lower valued, even though next week it may be in white hands,

00:28:53.386 --> 00:28:54.366
it's going to be higher value.

00:28:54.366 --> 00:28:58.686
So this happened to the Rivers family, so that by the year 2000,

00:28:59.086 --> 00:29:02.586
the Rivers descendants had lost their family.

00:29:04.084 --> 00:29:07.264
Legacy. They'd lost Pinefield to developers.

00:29:08.064 --> 00:29:13.904
And this came in the tragedy of local police.

00:29:14.104 --> 00:29:16.984
Some of the local sheriffs said, I can't, in good conscience,

00:29:17.344 --> 00:29:21.744
evict people from their family land, even though I have a court order to do so.

00:29:21.824 --> 00:29:24.144
And the court said, no, unmistakably move them.

00:29:24.364 --> 00:29:27.424
So they moved people, they moved children, they moved widows,

00:29:27.584 --> 00:29:31.264
they moved people, they moved trailers, you know, mobile homes off this land,

00:29:31.424 --> 00:29:36.264
off this Pinefield site, and almost immediately the county came in,

00:29:36.364 --> 00:29:38.544
they built the sewers, they built the roads.

00:29:39.004 --> 00:29:43.184
There had already been an automobile bridge that linked this part of Berkeley

00:29:43.184 --> 00:29:46.104
County to the Charleston metro area.

00:29:46.684 --> 00:29:51.084
And right before the book went to publication, I looked on one of those,

00:29:51.184 --> 00:29:55.844
you know, real estate websites, and there's Pinefield subdivided into these

00:29:55.844 --> 00:30:01.164
sumptuous multi-acre properties with huge single-family housing,

00:30:01.344 --> 00:30:03.684
lanai, pools, et cetera.

00:30:03.884 --> 00:30:06.544
These properties are going for $2 million of fees.

00:30:07.424 --> 00:30:10.424
So let's step back and say, well, how did that happen?

00:30:10.744 --> 00:30:16.764
And you can see through the steps here, the processes that connected something

00:30:16.764 --> 00:30:21.504
that seems as benign as just another real estate listing to the quote you started with.

00:30:22.004 --> 00:30:25.304
From W.E.B. Du Bois. And how does this happen?

00:30:25.464 --> 00:30:31.324
How does a family like the Rivers get plundered of their ancestral property?

00:30:32.264 --> 00:30:39.064
Yeah. All right. So now, just so the listeners will know, there's multiple stories

00:30:39.064 --> 00:30:40.944
of different individuals and

00:30:40.944 --> 00:30:44.244
families in the book, but I only wanted to cover three because of time.

00:30:44.824 --> 00:30:48.324
So the Prathers are the final story in the book.

00:30:48.924 --> 00:30:53.544
Discuss how the public policies of the latter 20th century contributed to the

00:30:53.544 --> 00:30:56.304
struggles of families like the Prithers.

00:30:57.188 --> 00:31:06.088
Yeah, so this is the concluding chapter, and it revolves around a family who grew up,

00:31:06.268 --> 00:31:14.708
descended from those people whom Georgetown College in 1838 sold off to save the institution.

00:31:15.088 --> 00:31:19.528
So some of your listeners may have read Rachel Swarns' beautiful book,

00:31:19.668 --> 00:31:24.408
The 272. So in 1838, Georgetown College was hitting hard times,

00:31:24.428 --> 00:31:28.688
and they decided to sell off some of the college's assets. Those were human assets.

00:31:28.928 --> 00:31:32.948
Those were African Americans living in Prince George's in Maryland,

00:31:33.328 --> 00:31:35.348
in St. Mary's County, Maryland.

00:31:35.628 --> 00:31:40.768
They sold 138 individuals to Louisiana sugar planters.

00:31:41.268 --> 00:31:46.908
And that's how Rochelle Sanders Prater's ancestors ended up in Iberville Parish, Louisiana.

00:31:46.908 --> 00:31:50.308
So after you know

00:31:50.308 --> 00:31:53.468
after enslavement emancipation they picked

00:31:53.468 --> 00:31:56.808
up right that it's this kind of the same story as

00:31:56.808 --> 00:31:59.868
the rivers family right you start with zero wealth

00:31:59.868 --> 00:32:05.608
you get no back wages from slavery you get no recompense for having missed out

00:32:05.608 --> 00:32:10.308
on generations of education and exploitation but this family works their way

00:32:10.308 --> 00:32:17.428
up so south so sorry this is louisiana baton rouge area It's the Louisiana Sugar Bowl,

00:32:17.488 --> 00:32:20.468
and they go from being sugar workers to timber workers.

00:32:20.728 --> 00:32:27.108
This comes with its own dangers and hazards. Rochelle's uncle died in a logging accident.

00:32:27.248 --> 00:32:30.988
Relative died in a logging accident. I think it actually is her grandfather.

00:32:31.328 --> 00:32:35.168
So they're growing up. It's kind of scraping by.

00:32:36.492 --> 00:32:42.612
In the Jim Crow era, you have two economies in Merrington, Louisiana, and Iberville Parish.

00:32:42.692 --> 00:32:45.512
There's a white-run economy and a black-run economy.

00:32:45.812 --> 00:32:50.312
And so Rochelle Sanders Prater grew up, born in 1960, grew up in this environment,

00:32:50.572 --> 00:32:56.612
and was, as she describes in the interviews, a child of integration.

00:32:57.192 --> 00:33:01.612
So her parents encouraged their kids to go to school, earn those degrees.

00:33:01.952 --> 00:33:05.452
She had a love of engineering, so she got an engineering degree.

00:33:05.452 --> 00:33:10.672
And faced the kinds of discrimination that are very quiet.

00:33:10.872 --> 00:33:14.392
Her sister also earned an engineering degree, wanted to stay near Iberville

00:33:14.392 --> 00:33:20.152
and stay near her family, but went up and down the levee looking for a job with

00:33:20.152 --> 00:33:25.212
an engineering degree, looking for a job at one of the petrochemical companies.

00:33:25.372 --> 00:33:30.232
And they just laughed at her. We're not hiring Black people and certainly not Black women.

00:33:30.392 --> 00:33:34.132
She ended up getting an advanced degree at Rensselaer Polytechnic and working

00:33:34.132 --> 00:33:38.172
for General Electric Aerospace in the Cincinnati area.

00:33:38.972 --> 00:33:42.772
So Rochelle follows her dream to an engineering degree.

00:33:43.332 --> 00:33:49.112
Her husband was working as a prison guard at the time, a corrections officer, right?

00:33:49.232 --> 00:33:53.672
And so he saw up close what's happening in Louisiana, which is that a vast,

00:33:53.812 --> 00:34:00.452
disproportionate fraction of the population, Black men are being incarcerated.

00:34:00.932 --> 00:34:05.772
Or, you know, for what? You know, that's another podcast, right?

00:34:05.852 --> 00:34:08.452
I probably don't need to expand too much on this.

00:34:08.772 --> 00:34:11.732
So they decide we're going to take a ticket out of Louisiana.

00:34:11.732 --> 00:34:15.712
We don't want to, but Rochelle took a job with...

00:34:18.290 --> 00:34:22.770
I'm blanking on the name, Aerospace Company in Long Beach, California.

00:34:24.030 --> 00:34:29.270
McDonald Douglas, thank you. And moved out there in the late 80s.

00:34:29.910 --> 00:34:33.530
And this should have been a ticket to prosperity.

00:34:33.910 --> 00:34:39.110
But she's moving to the LA metro area, which itself has been formed through

00:34:39.110 --> 00:34:43.550
generations of discriminatory practices, redlining, etc.

00:34:43.970 --> 00:34:49.810
The aerospace industry at the time was booming, especially the defense aerospace industry.

00:34:49.990 --> 00:34:55.270
So she's landing in Long Beach. She's working on one of the most advanced transport

00:34:55.270 --> 00:35:00.290
planes of the time, the C-17 Strato.

00:35:00.830 --> 00:35:05.110
I'm going to blank on the name of this as well. If you see a jet-powered Air

00:35:05.110 --> 00:35:08.390
Force transport plane, it's probably one of these, even though they don't make

00:35:08.390 --> 00:35:10.370
them anymore. So the C-17 project.

00:35:10.590 --> 00:35:14.750
So she lands there and finds it's very hard. First of all, because she's a black

00:35:14.750 --> 00:35:17.310
woman, she has a pay differential, a disadvantage.

00:35:17.730 --> 00:35:24.350
The company, McDonnell Douglas, was able to recruit very talented people with substandard wages.

00:35:24.530 --> 00:35:28.550
And then the L.A. housing market was priced them out. So they're renting.

00:35:28.830 --> 00:35:33.630
It's a long commute. her husband had to kind of pivot from being a corrections

00:35:33.630 --> 00:35:38.070
officer to a courier at a time before cell phones and DoorDash and all that.

00:35:38.270 --> 00:35:44.670
So they're doing okay. But she faces persistent discrimination at this aerospace company.

00:35:44.830 --> 00:35:49.290
She shifts to another aerospace company, and she's working on the B-2 stealth

00:35:49.290 --> 00:35:58.530
bomber up in one of these high security production facilities north of Los Angeles.

00:35:58.530 --> 00:36:04.930
So, one day, it's in an automobile accident, 1990, suffers a head injury,

00:36:05.090 --> 00:36:06.670
and her career essentially ends.

00:36:07.523 --> 00:36:12.803
And this is where the policy kind of the policy story catches up with the success

00:36:12.803 --> 00:36:17.563
story of someone who made it, you know, into aerospace with an engineering degree

00:36:17.563 --> 00:36:21.683
is working on some of the most advanced aircraft of our era.

00:36:22.183 --> 00:36:27.843
And because Social Security was not set up to serve African-Americans,

00:36:27.843 --> 00:36:32.503
she has no way of getting an on-ramp back into her career.

00:36:32.503 --> 00:36:37.663
She eventually gets Social Security disability, but not for the accident itself,

00:36:37.883 --> 00:36:42.043
but for the depression, kind of the consequences of that.

00:36:42.263 --> 00:36:45.383
So her family is not able to go back into this industry.

00:36:45.603 --> 00:36:52.323
She is forced to move to near where her sister is in Cincinnati and build her life back up again.

00:36:52.503 --> 00:36:56.563
So it's a story of adversity and disability. And in a larger frame,

00:36:56.703 --> 00:37:01.663
it's a story of second chances that Black Americans don't get and don't get by design.

00:37:01.663 --> 00:37:08.103
In the Reagan era, there was all kinds of moves to dismantle any kind of federal

00:37:08.103 --> 00:37:13.363
safety net, to get rid of civil rights regulations, get rid of civil rights laws.

00:37:13.643 --> 00:37:19.463
I mentioned in the book, and this is before the last year, John Roberts,

00:37:19.743 --> 00:37:21.183
now Chief Justice of the U.S.

00:37:21.263 --> 00:37:25.583
Supreme Court, got a start in the Reagan White House trying to work against

00:37:25.583 --> 00:37:27.763
civil rights regulations and civil

00:37:27.763 --> 00:37:32.283
rights legislation. And you can see how extremely successful the U.S.

00:37:32.583 --> 00:37:38.503
Supreme Court has been in the last 15 or so years in rolling back the Civil

00:37:38.503 --> 00:37:43.063
Rights Revolution, gutting the Civil Rights Acts, gutting the Voting Rights

00:37:43.063 --> 00:37:45.223
Act of 1965 in particular.

00:37:45.763 --> 00:37:49.203
And at every turn, you know, trying to turn the clock back.

00:37:49.203 --> 00:37:55.143
But the story of the Praetor family Doesn't end there They pick themselves back

00:37:55.143 --> 00:38:01.243
up They fight the good fight for equality But it's the story of Of.

00:38:02.104 --> 00:38:08.844
How structures that are meant to support and help American families thrive work

00:38:08.844 --> 00:38:14.944
in reverse in many cases when African-American families are making those claims.

00:38:15.284 --> 00:38:20.324
So, you know, I don't want to tell too much of Rochelle Sanders Prater's story

00:38:20.324 --> 00:38:26.104
because she is one of the executive directors of the Georgetown 272 Project,

00:38:26.104 --> 00:38:29.904
very active in making that history well known.

00:38:29.904 --> 00:38:35.024
But here's the point of the story is to show what is the trajectory there.

00:38:35.324 --> 00:38:38.884
We like to think of ourselves or like to think of America as a place of,

00:38:39.024 --> 00:38:45.564
you know, if you bootstrap your way up, you know, there's no upward limitations.

00:38:45.564 --> 00:38:51.404
But hidden in the weeds of that are a series of interlocking disadvantages.

00:38:51.904 --> 00:38:57.404
And those that we face today include things as benign or seemingly neutral as a credit score.

00:38:57.704 --> 00:39:03.324
Why is it that in 1989, you know, the Fair Isaac Company or FICO decided to

00:39:03.324 --> 00:39:07.724
make credit scores in such a way that most of our credit scores determined not

00:39:07.724 --> 00:39:12.444
by what we've done, but by what our parents were able to do, Our grandparents,

00:39:12.804 --> 00:39:15.964
the economic circumstances we're born into.

00:39:16.564 --> 00:39:23.244
So when you think about these things or think about the hidden tax on,

00:39:23.444 --> 00:39:26.904
let's say, African-American home ownership, vehicle ownership,

00:39:27.404 --> 00:39:33.204
education, then we can start to understand why these gaps are so persistent over so much time.

00:39:34.044 --> 00:39:37.864
And if I haven't, if I'm talking too much, let me know.

00:39:38.124 --> 00:39:42.664
But I just wanted to add one point that as the book reached its conclusion,

00:39:42.664 --> 00:39:47.824
it relied on the Federal Reserve's survey of consumer finance.

00:39:48.044 --> 00:39:50.824
This every once every three years, the Fed does a survey.

00:39:51.224 --> 00:39:55.784
And one of the outcomes of that is to look at racial wealth and income gaps.

00:39:56.404 --> 00:40:03.044
And one of the things that should be something to be part of a public policy

00:40:03.044 --> 00:40:09.684
discussion is that in 2022, when the Fed did the last survey or published the last survey,

00:40:09.784 --> 00:40:12.184
they did one in 2025, should be out later this year,

00:40:12.384 --> 00:40:18.104
they found that black households had about 16 cents on the dollar compared to white households.

00:40:18.624 --> 00:40:23.104
That is, I think, a staggering measure of inequality and one that should be

00:40:23.104 --> 00:40:25.444
at the forefront of our public policy discussion.

00:40:26.064 --> 00:40:31.464
Yeah. So that leads to my last question is really going to be two questions in one.

00:40:31.684 --> 00:40:34.544
There is a book called 15 Cents on the Dollar.

00:40:35.004 --> 00:40:41.104
And according to that book, if the black-white, it says if the black-white wealth

00:40:41.104 --> 00:40:45.744
ratio increases at the pace it did from 2019 to 2022,

00:40:45.744 --> 00:40:53.024
it would reach one-to-one ratio in 91 years. So that'll be 2113.

00:40:53.484 --> 00:40:59.884
Based on your historical examination, is there any way that the gap can be closed sooner?

00:41:00.244 --> 00:41:04.864
And can reparations help reduce that racial wealth gap?

00:41:05.732 --> 00:41:09.192
Yes and yes. And so 15 cents on a dollar is a brilliant book.

00:41:09.352 --> 00:41:14.732
And it does the hard work of looking at grassroots efforts in Atlanta,

00:41:14.952 --> 00:41:20.852
in and around Atlanta, to try and address the mechanisms that perpetuate and

00:41:20.852 --> 00:41:22.232
extend wealth inequality.

00:41:22.232 --> 00:41:26.212
So I would encourage everyone to read the story 15 cents.

00:41:26.612 --> 00:41:30.172
But yes, the yes and yes. So we can as a nation do this.

00:41:30.312 --> 00:41:36.832
We have done it. But hidden in the details, which 15 cents on the dollar mentions

00:41:36.832 --> 00:41:38.992
and the plunder of Black America mentions,

00:41:39.212 --> 00:41:46.432
is that in large part, this racial wealth gap today is a creation of public policy.

00:41:46.432 --> 00:41:53.152
So if we go back to the dawn of the mortgage lending industry in the early 20th

00:41:53.152 --> 00:41:56.952
century and the discriminatory framework in which that took place,

00:41:56.952 --> 00:42:02.792
if we look at the Servicemen's Readjustment Act of 1944, the GI Bill,

00:42:02.932 --> 00:42:07.132
and how that distributed benefits differently to black and white veterans,

00:42:07.412 --> 00:42:10.872
we can see the origins of much of that wealth gap today.

00:42:10.872 --> 00:42:15.032
And so the question that the plunder of Black America poses is,

00:42:15.232 --> 00:42:19.032
if the damage is financial, shouldn't the remedy be financial as well?

00:42:19.212 --> 00:42:20.832
And I think the answer is yes.

00:42:21.112 --> 00:42:27.772
And so what we should do is to take an account of that. California did this a few years ago.

00:42:28.670 --> 00:42:34.530
Studied the racial wealth and income gaps in California and proposed solutions.

00:42:34.670 --> 00:42:38.610
I doubt the politicians are going to act on those proposals.

00:42:38.790 --> 00:42:44.990
But one of the things that the California study found was that when they went and quantified it,

00:42:45.090 --> 00:42:52.750
they found that the typical Californian had lost about $160,000 in property

00:42:52.750 --> 00:42:56.830
value based on discriminatory practices in California,

00:42:56.830 --> 00:43:01.110
a state that did not allow slavery under its 1850 constitution.

00:43:01.610 --> 00:43:06.630
So yes, I think we can take those numbers and form an action plan.

00:43:06.810 --> 00:43:09.790
Let's start to do the accounting. Let's look at those receipts.

00:43:09.950 --> 00:43:13.910
Let's see what we can do to close that gap.

00:43:14.350 --> 00:43:19.010
And if scholars like Sandy Darity have proposed cash payments,

00:43:19.230 --> 00:43:25.650
this would do a very immediate, that was very immediately accomplished closing some of those gaps.

00:43:26.010 --> 00:43:29.770
But in this book, what about if we go back to South Carolina and say,

00:43:29.890 --> 00:43:34.970
well, for a long, long time, South Carolina very deliberately discriminated

00:43:34.970 --> 00:43:36.010
against Black students.

00:43:36.170 --> 00:43:40.030
They spent three times as much on each white student as each Black student.

00:43:40.330 --> 00:43:44.230
And for the Rivers family, by the second generation of freedom,

00:43:44.350 --> 00:43:49.210
they didn't even have high schools available in Berkeley County for Black students,

00:43:49.230 --> 00:43:52.610
in most places in Berkeley County, unless you can somehow get to Charleston.

00:43:52.990 --> 00:43:57.230
So why don't we set up scholarship funds? Why don't we set up scholarship funds

00:43:57.230 --> 00:44:00.510
to places like the University of South Carolina? Or in Arizona,

00:44:00.510 --> 00:44:04.530
there was discrimination against African American students until the 1950s.

00:44:04.630 --> 00:44:05.870
And then why discrimination?

00:44:06.830 --> 00:44:10.870
Let's look at those specific financial harms and then remedy those harms.

00:44:11.800 --> 00:44:15.580
So when we think about the Servicemen's Readjustment Act or the GI Bill,

00:44:16.260 --> 00:44:21.300
this didn't have any racist language in the actual bill.

00:44:21.420 --> 00:44:27.980
But what it did was to allow local agents to steer black or white vets to different opportunities.

00:44:28.320 --> 00:44:31.520
So let's say you're in Pennsylvania.

00:44:31.840 --> 00:44:38.020
You're a white vet coming home from World War II. You're meeting with your VA person.

00:44:38.940 --> 00:44:42.160
And I don't know if it was called the VA at the time. it's now the Veterans

00:44:42.160 --> 00:44:46.820
Administration, that VA agent says, hey, you know, you look like a profile of

00:44:46.820 --> 00:44:50.340
someone who should go to Penn and earn an engineering degree. Okay.

00:44:51.280 --> 00:44:54.100
Federal government will help you out with that. Black vet comes in,

00:44:54.220 --> 00:44:55.740
same office, same officer.

00:44:56.120 --> 00:45:00.020
You look like you'd be a great candidate for a veterans masonry school.

00:45:00.580 --> 00:45:05.260
Okay. Off you go to the vet's masonry school. The family that has the engineering

00:45:05.260 --> 00:45:08.360
degree and the family that has a mason's degree, first of all,

00:45:08.360 --> 00:45:10.900
both get federal benefits, right?

00:45:11.100 --> 00:45:13.520
So that's objectively better than not having those benefits,

00:45:13.520 --> 00:45:17.380
but you can fill in the gaps as to what the trajectory of that is.

00:45:17.880 --> 00:45:23.260
In South Carolina, you did not have, the University of South Carolina actually

00:45:23.260 --> 00:45:28.540
integrated in the reconstruction era, and then it's segregated,

00:45:28.540 --> 00:45:31.300
not to integrate again for another hundred years.

00:45:31.480 --> 00:45:35.780
And so there's a big history of that discrimination that we need to address.

00:45:36.881 --> 00:45:41.541
So it takes a lot of political will, but I think at first it takes a recognition

00:45:41.541 --> 00:45:49.721
that these, what the book calls structural obstacles, are not simply ephemeral, right?

00:45:51.781 --> 00:45:55.941
They're something we need to reckon with, and we need to reckon with them by

00:45:55.941 --> 00:46:00.061
understanding how they're made and how we can start to remove them.

00:46:00.061 --> 00:46:03.981
Because in the story of the 20th century, the story of the first part of the

00:46:03.981 --> 00:46:09.401
20th century, the first three quarters of it is creating wealth for white families

00:46:09.401 --> 00:46:12.541
and largely excluding black families. Yeah.

00:46:13.061 --> 00:46:17.381
All right. So if people want to get this book, again, it's called The Plunder

00:46:17.381 --> 00:46:22.761
of Black America, How the Racial Wealth Gap Was Made. Where can they get it?

00:46:23.648 --> 00:46:28.948
And how can they get in touch with you? So I work at Arizona State University.

00:46:29.168 --> 00:46:34.328
So if you just Google Schermerhorn, S-C-H-E-R-M-E-R-H-O-R-N,

00:46:35.028 --> 00:46:37.528
ASU, my profile will pop up.

00:46:38.068 --> 00:46:41.508
They can buy this book, Barnes & Noble.

00:46:41.828 --> 00:46:45.108
They might have to order it. The Barnes & Noble in Springfield,

00:46:45.208 --> 00:46:49.248
Virginia has copies, I think, at last look, but the ones near me don't.

00:46:49.248 --> 00:46:53.888
So you can, you know, get it or get a used copy or through your local bookstore.

00:46:55.088 --> 00:47:00.928
Okay. Well, Calvin Schirmerhorn, I really appreciate, one, you writing this book.

00:47:01.128 --> 00:47:06.248
I would make the argument that if I was an attorney, I would use that as evidence

00:47:06.248 --> 00:47:10.288
to file lawsuits against certain,

00:47:10.448 --> 00:47:17.428
because you outlined certain companies and how they benefited from racism and slavery and all that.

00:47:17.988 --> 00:47:23.488
And, you know, but I think it's a good read for people to understand,

00:47:23.488 --> 00:47:25.328
because a lot of people make the arguments.

00:47:25.948 --> 00:47:30.628
Well, I don't understand about reparations and why I got to pay or,

00:47:30.828 --> 00:47:33.628
you know, we weren't involved with slavery and all that.

00:47:33.768 --> 00:47:41.588
But, you know, the plunder of black America makes the case as to how we got to this point.

00:47:43.348 --> 00:47:47.568
And hopefully learning from that will lead to some resolution.

00:47:47.568 --> 00:47:49.208
So I thank you for doing that.

00:47:49.748 --> 00:47:52.148
And I thank you for coming on the podcast.

00:47:53.348 --> 00:47:55.848
Well, thank you, Mr. Fleming. It's been a pleasure speaking with you.

00:47:56.788 --> 00:47:58.928
All right, guys. And we're going to catch y'all on the other side.

00:48:20.407 --> 00:48:25.547
All right, and we are back. So I just want to thank Dr.

00:48:25.867 --> 00:48:34.687
Calvin Schermerhorn for writing this incredible book, The Plunder of Black America.

00:48:35.267 --> 00:48:44.067
And like I told him in the interview, this book makes the case.

00:48:44.067 --> 00:48:47.627
We also mentioned another book, 15 Cents on the Dollar.

00:48:49.160 --> 00:48:53.300
That Louise Story and Ebony Reed put together.

00:48:54.340 --> 00:48:59.260
And between those two books, you can make the case for reparations.

00:48:59.260 --> 00:49:06.260
You can make the case for public policy to do better as it relates to African-Americans.

00:49:06.260 --> 00:49:08.400
It doesn't matter if you're a Democrat or Republican.

00:49:08.840 --> 00:49:12.540
You need to read those books, especially if you're an elected official.

00:49:12.540 --> 00:49:18.620
You need to read these books because when people tell you they're struggling, And it's real.

00:49:18.640 --> 00:49:22.640
And it's been real for black people for a long, long time.

00:49:23.200 --> 00:49:29.800
So I really, really was honored to find this book and to be able to get the author on.

00:49:31.020 --> 00:49:37.780
And, you know, he's a college professor, so I did my best to get him out in

00:49:37.780 --> 00:49:40.900
time to do what he had to do as far as school was concerned.

00:49:41.140 --> 00:49:47.980
But I'm glad he took the time to do that. So I would be remiss personally if

00:49:47.980 --> 00:49:52.640
I didn't say something about Reverend Jesse Jackson Sr.

00:49:53.000 --> 00:50:02.260
He played a major role in my life without necessarily being me being a protege

00:50:02.260 --> 00:50:05.540
of his or being an apprentice or whatever term you want to use.

00:50:05.540 --> 00:50:11.380
But, you know, I mean, he was a part of growing up in Chicago.

00:50:11.880 --> 00:50:19.280
He was a part of our culture. He was part of the reason why I say growing up as a black man,

00:50:19.620 --> 00:50:27.360
a black child in Chicago during that time from 65 to 83 was was an incredible experience.

00:50:27.360 --> 00:50:33.560
I wouldn't trade that for anything in the world, you know, any other city or

00:50:33.560 --> 00:50:35.400
any other part of the United States.

00:50:35.540 --> 00:50:43.980
And he was the embodiment of why we had this particular pride.

00:50:44.100 --> 00:50:46.760
He was kind of the metronome.

00:50:47.828 --> 00:50:52.948
As far as us understanding Black history and pride and all that.

00:50:53.068 --> 00:50:57.488
And see, Chicago has been, you know, all these people used to talk about Harlem

00:50:57.488 --> 00:51:01.168
and people talk about Watts and, you know, all these other places.

00:51:01.388 --> 00:51:05.648
But Bronzeville and Chicago and just the city of Chicago in general,

00:51:05.768 --> 00:51:09.868
the South Side, you know, no offense to my West Side friends because,

00:51:10.148 --> 00:51:11.908
you know, there's some solid people there too.

00:51:11.908 --> 00:51:21.508
But the South Side of Chicago really was, like I said during that time, just a good place to be.

00:51:22.028 --> 00:51:27.228
You know, there were some people experiencing poverty and other problems and all that.

00:51:27.468 --> 00:51:31.328
But they were people that were, even if they were struggling,

00:51:31.848 --> 00:51:35.548
they had pride in their families.

00:51:35.768 --> 00:51:38.988
They carried themselves a certain way.

00:51:40.748 --> 00:51:46.188
And, you know, they knew how to survive. And there were people like Reverend

00:51:46.188 --> 00:51:51.588
Jackson out there that was constantly preaching about hope and organizing and all that.

00:51:51.728 --> 00:51:55.448
I mean, Barack Obama was organizing during that time.

00:51:55.648 --> 00:52:00.248
I mean, it was just, you know, we elected our first black mayor during that time period.

00:52:00.468 --> 00:52:03.788
I mean, it was just, it was just different. And like I said,

00:52:03.928 --> 00:52:06.588
Reverend Jackson was, whenever something was going down,

00:52:07.008 --> 00:52:12.828
you know, But his presence was always around us, almost like the Nation of Islam

00:52:12.828 --> 00:52:16.028
and their presence during that time in Chicago.

00:52:16.508 --> 00:52:20.168
You know, when I was growing up, Elijah Muhammad was still alive,

00:52:20.628 --> 00:52:25.448
you know, and Mosque Miriam was right there on South Chicago.

00:52:25.448 --> 00:52:32.708
And, you know, it wasn't any big deal for us to go to, you know,

00:52:32.868 --> 00:52:38.548
the Shabazz Bakery or whatever to get some bread or, you know, bean pies or whatever.

00:52:39.328 --> 00:52:43.028
Muhammad Speaks was the paper then. It wasn't the final call at that point,

00:52:43.068 --> 00:52:45.508
but it eventually became the final call.

00:52:46.910 --> 00:52:52.430
And headquarters was literally like walking distance from my house, right?

00:52:53.730 --> 00:52:57.730
Operation Breadbasket, when it first started in Chicago, Reverend Jackson's

00:52:57.730 --> 00:53:01.270
organization or the offshoot at SCLC that Dr.

00:53:01.410 --> 00:53:05.670
King put him over, had taken over to Old Capitol Theater, which was right there

00:53:05.670 --> 00:53:07.570
on Halstead Street, close to my house.

00:53:07.570 --> 00:53:15.210
And before he left the organization and started Operation Push,

00:53:15.450 --> 00:53:20.390
which then became the Push Rainbow Coalition, right?

00:53:21.070 --> 00:53:27.170
But, you know, I was a part of the Push Excel program.

00:53:27.410 --> 00:53:31.610
So that was a group of young leaders that were chosen.

00:53:33.170 --> 00:53:39.270
And, you know, we would meet and strategize and workshop and all that stuff,

00:53:39.330 --> 00:53:41.030
you know, like once a month.

00:53:41.670 --> 00:53:46.430
And he would always, you know, they would feed us and he would always,

00:53:46.730 --> 00:53:52.270
if he could, he would always come and give us a word of encouragement for what we were doing.

00:53:52.530 --> 00:53:58.190
So, you know, and of course, this is before cell phones and selfies and all that.

00:53:58.410 --> 00:54:05.590
So, So, you know, what I have is memories as opposed to snapshots, right?

00:54:06.070 --> 00:54:12.390
And then, you know, going to Jackson State, he came to Jackson State many times to speak.

00:54:12.910 --> 00:54:16.770
You know, it was an honor and privilege for me as a student body president to

00:54:16.770 --> 00:54:22.330
be on the dais with him, to introduce him, to speak to the student body president.

00:54:23.063 --> 00:54:28.843
You know, have lunch with him and, you know, just interact with him.

00:54:28.923 --> 00:54:32.883
And then, of course, being an elected official, whenever he came to Mississippi,

00:54:33.303 --> 00:54:36.563
you know, we, members of the Black Caucus, we interacted with him.

00:54:37.243 --> 00:54:45.663
And I remember one time we had to, we went to Atlanta,

00:54:45.963 --> 00:54:50.103
we came to Atlanta to march for an extension of the Voting Rights Act,

00:54:50.103 --> 00:54:53.743
and he was kind of the lead on that.

00:54:53.963 --> 00:54:59.863
But, you know, my memory of that was sitting in the old press box of the Morris

00:54:59.863 --> 00:55:01.223
Brown Football Stadium,

00:55:01.823 --> 00:55:09.903
and it was him and myself and Representative Jim Evans and Reverend James Orange

00:55:09.903 --> 00:55:13.603
and Reverend Joseph Lowry and Dr. Andrew Young.

00:55:14.023 --> 00:55:17.823
And I was just in awe just listening to them tell stories.

00:55:18.003 --> 00:55:23.963
You know, about different events that happened, you know, those kind of things.

00:55:24.603 --> 00:55:27.143
And so, you know, I know people...

00:55:28.870 --> 00:55:33.610
You know, there's always negative stuff that's out there. And people said that

00:55:33.610 --> 00:55:34.970
certain folks didn't get along.

00:55:35.690 --> 00:55:45.510
But, you know, those guys had an incredible bond that is so unique because all

00:55:45.510 --> 00:55:47.950
of those guys came up around Dr.

00:55:48.010 --> 00:55:58.910
King directly or indirectly. And, you know, just to see those original founders

00:55:58.910 --> 00:56:02.290
of the SCLC just gathered in that moment, right?

00:56:03.350 --> 00:56:07.190
Those were just the kind of things. And then, you know, over time and over years,

00:56:07.370 --> 00:56:15.630
and there's one incredibly funny story, you know, when he was running for president in 88,

00:56:16.110 --> 00:56:22.330
and I was working for a congressional candidate at the time,

00:56:22.470 --> 00:56:26.390
and he had made it to the runoff.

00:56:26.390 --> 00:56:32.510
And his opponent had done a commercial where he took a soundbite from Reverend

00:56:32.510 --> 00:56:36.130
Jackson and made it seem like Reverend Jackson was endorsing him.

00:56:36.610 --> 00:56:42.030
And so one of the guys who was supporting my candidate said,

00:56:42.190 --> 00:56:47.830
well, look, we need to get Reverend Jackson to come on and fix that.

00:56:49.270 --> 00:56:51.990
So here we are. I'm in this guy's office.

00:56:53.990 --> 00:56:57.550
It's like easily like one

00:56:57.550 --> 00:57:00.990
one or two in the morning and we're

00:57:00.990 --> 00:57:07.710
trying to reach reverend jackson and we get him and he was clearly hoarse from

00:57:07.710 --> 00:57:13.370
speaking and all that like i said they had just won the michigan caucus and

00:57:13.370 --> 00:57:18.910
you know when we told him what was going on he was like oh no doc We can't have that.

00:57:19.070 --> 00:57:23.630
And, you know, and he started, he said, what can we do and all this stuff?

00:57:23.810 --> 00:57:26.170
And so, like, literally, like, the next day.

00:57:27.538 --> 00:57:36.078
Went to a recording studio and he called in and basically did a spot over the telephone.

00:57:39.658 --> 00:57:47.358
To put a disclaimer on, you know, let people know that he wasn't endorsing our opponent, right?

00:57:47.698 --> 00:57:50.298
But that's how engaged he was.

00:57:50.758 --> 00:57:54.998
But those are my personal stories and recollections.

00:57:55.118 --> 00:58:00.098
But the beauty of Reverend Jackson was the fact that as I was talking to relatives

00:58:00.098 --> 00:58:09.858
and friends and looking at different people that I follow or follow me on social media and stuff,

00:58:10.098 --> 00:58:16.218
it was just like, you know, the younger folks that were able to get the selfies with him, right?

00:58:16.758 --> 00:58:24.598
And, you know, my cousin, he went to college with Jesse Jr. So he had met Reverend Jackson that way.

00:58:26.138 --> 00:58:29.898
And, you know, talking about Kyle's roommate, and he was talking about,

00:58:30.178 --> 00:58:37.178
you know, how his dad, you know, gave Jesse, Reverend Jackson, the frat shake,

00:58:38.098 --> 00:58:41.658
you know, because they, you know, he was a proud Omega man.

00:58:42.358 --> 00:58:49.418
And, you know, just the memory of that. And, you know, and then the first time

00:58:49.418 --> 00:58:51.498
he came to Jackson State, we had a march.

00:58:52.878 --> 00:58:56.858
And my roommate got to meet him and, you know, was telling me,

00:58:56.978 --> 00:58:59.938
yeah, you met my dad and da-da-da. He was like, yeah, okay.

00:59:00.738 --> 00:59:05.098
Yeah, old frat brother of mine, okay. Yeah, he was trying to recruit my roommate

00:59:05.098 --> 00:59:06.218
into the frat at that point.

00:59:06.838 --> 00:59:10.518
But it's just those stories and those pictures and it's always,

00:59:10.858 --> 00:59:15.558
you know, just the joy that people had being in his presence.

00:59:16.438 --> 00:59:20.078
I'm old enough to remember the Sesame Street episode he was on.

00:59:20.198 --> 00:59:27.218
I remember him doing the green eggs and ham on Saturday Night Live and all that stuff. And.

00:59:28.375 --> 00:59:37.475
You know, the ultimate testimony for Reverend Jackson was the fact that he was

00:59:37.475 --> 00:59:39.895
serious about the business, right?

00:59:40.415 --> 00:59:44.815
Whether he was, I even had to cover him as a reporter, right?

00:59:44.915 --> 00:59:54.295
When he came down to speak as a stockholder of MCI World Cup when Bernie Ebers was running it and,

00:59:54.295 --> 01:00:00.495
you know, and is trying to get more minority participation in the company and

01:00:00.495 --> 01:00:05.715
trying to encourage black people at that time to buy stocks.

01:00:06.295 --> 01:00:11.415
Because his whole contribution to the movement,

01:00:11.415 --> 01:00:16.915
not was just the political gains that he made because of what he did running

01:00:16.915 --> 01:00:19.195
for president of the United States,

01:00:19.195 --> 01:00:26.075
created the mechanism where a Hillary Clinton or Barack Obama or Kamala Harris

01:00:26.075 --> 01:00:30.255
could win the nomination because the primaries used to be winner take all.

01:00:30.955 --> 01:00:37.375
And because of Reverend Jackson and his campaign, they changed it to proportions.

01:00:38.095 --> 01:00:46.075
So it used to be if you won, let's say in Mississippi, you got 51% of the vote,

01:00:46.395 --> 01:00:52.415
the opponent got 49, you would get 100% of the delegates.

01:00:52.995 --> 01:01:00.015
After Reverend Jackson, it was like 51% of the delegates went to you and 49%

01:01:00.015 --> 01:01:01.875
went to your opponent, right?

01:01:02.115 --> 01:01:06.075
And that's how you were, you know, those delegates were chosen at the state

01:01:06.075 --> 01:01:10.895
convention and then they got to go represent those particular candidates at

01:01:10.895 --> 01:01:11.775
the national convention,

01:01:12.035 --> 01:01:18.435
and that's how you determine who wins instead of all the deal-making and backroom

01:01:18.435 --> 01:01:22.235
brokering that used to happen in previous conventions, right?

01:01:24.441 --> 01:01:32.961
So, he was, but getting back to my point about the joy and stuff,

01:01:33.221 --> 01:01:35.581
he just, everywhere he went,

01:01:36.221 --> 01:01:40.581
especially in the black community, every time he spoke and all that,

01:01:41.021 --> 01:01:44.061
you know, people were glad to see him.

01:01:44.421 --> 01:01:48.041
When he spoke up about something, people were excited.

01:01:49.603 --> 01:01:54.703
It raised the antenna. If Reverend Jackson offered an opinion,

01:01:54.903 --> 01:01:58.163
it's like, that's something we need to be paying attention to, right?

01:01:58.323 --> 01:02:01.183
I mean, that was the kind of magnitude he had.

01:02:01.503 --> 01:02:06.843
And, you know, even the fact that he was able to go overseas and get people.

01:02:07.463 --> 01:02:11.263
I remember that cover Jet Magazine when he got that brother,

01:02:11.503 --> 01:02:14.183
Robert Goodman. He was a POW.

01:02:15.183 --> 01:02:21.183
And we was a hostage actually because we weren't at war at the time and he got

01:02:21.183 --> 01:02:22.463
that brother to come home.

01:02:22.683 --> 01:02:26.903
I think he was in Syria if I remember correctly. I can't recall right off,

01:02:27.003 --> 01:02:30.023
but I remember Brother Goodman because I remember that cover,

01:02:30.783 --> 01:02:32.743
Reverend Jackson in his suit.

01:02:34.803 --> 01:02:39.603
And Brother Goodman in his naval uniform standing side by side,

01:02:39.783 --> 01:02:41.343
well, walking side by side.

01:02:41.863 --> 01:02:47.603
That was just incredible. And he was one of those forgotten people.

01:02:47.923 --> 01:02:53.403
You know, it was just like, well, not forgotten, but there wasn't any movement going on.

01:02:53.543 --> 01:02:56.563
And then Reverend Jackson got wind of it and was able to get him out.

01:02:56.963 --> 01:02:59.063
So, you know, he had a cachet.

01:02:59.623 --> 01:03:02.683
He had a aura and a presence.

01:03:03.543 --> 01:03:10.803
And the greatest testimony was just to see all my friends and colleagues and

01:03:10.803 --> 01:03:14.983
all that stuff be able to share their personal experience with him.

01:03:15.623 --> 01:03:19.423
And that's a true man of the people, right?

01:03:19.783 --> 01:03:28.083
Whereas like in your little circle, I promise you, if you're black and you probably

01:03:28.083 --> 01:03:29.223
had those conversations,

01:03:30.123 --> 01:03:33.583
you know, People say, oh, yeah, I remember when he came to our church.

01:03:33.583 --> 01:03:35.443
I remember when he came to our neighborhood.

01:03:35.463 --> 01:03:38.043
I remember when he spoke at this event, you know.

01:03:38.743 --> 01:03:43.243
Most of us have that story because he was truly for us.

01:03:44.427 --> 01:03:50.327
And, you know, again, the naysayers will say certain things about him.

01:03:50.747 --> 01:03:55.867
You know, he caught a lot of flack while he was alive. But one of my favorite

01:03:55.867 --> 01:03:58.647
quotes is something that stuck with me the whole time,

01:03:58.847 --> 01:04:07.547
along with a politician thinks of the next election, but a statesman thinks of the next generation.

01:04:07.907 --> 01:04:12.047
That's my favorite political quote. But my second favorite political quote is

01:04:12.047 --> 01:04:18.447
from Reverend Jackson. He said, I'm a public servant, not a perfect servant, right?

01:04:19.027 --> 01:04:25.427
All of us are human. All of us make mistakes. All of us have hurt somebody one

01:04:25.427 --> 01:04:27.707
way or the other, physically, emotionally, whatever.

01:04:28.087 --> 01:04:32.387
All of us have disappointed somebody that cares about us, right?

01:04:32.747 --> 01:04:35.227
So we've all fallen short.

01:04:36.327 --> 01:04:46.887
And, you know, but the totality of your life should reflect that you made a difference,

01:04:47.247 --> 01:04:52.607
that you helped somebody along the way, that you uplifted folks.

01:04:52.607 --> 01:04:55.487
And in the case of Reverend Jackson, uplifted the people.

01:04:56.427 --> 01:04:59.767
Right. And I think that's important.

01:05:00.287 --> 01:05:04.087
And that's the distinction I have. Right.

01:05:04.087 --> 01:05:10.507
You can't draw a better distinction than, you know, Reverend Jackson and the

01:05:10.507 --> 01:05:15.187
current president, because it's like, yeah, there's some people that's happy

01:05:15.187 --> 01:05:17.207
to see the current president and all that, but...

01:05:18.699 --> 01:05:25.699
And it's not the same, you know, whereas if Reverend Jackson made a mistake,

01:05:25.999 --> 01:05:29.059
there was some attrition to that. Right.

01:05:29.619 --> 01:05:36.279
There was there was, you know, there was a healing process. There was a way

01:05:36.279 --> 01:05:42.799
for him to pull from his gospel training to reconcile with people.

01:05:43.059 --> 01:05:47.939
And he always, always worked out different things. As a matter of fact,

01:05:48.299 --> 01:05:53.119
the quote that you heard me recite with Dr.

01:05:53.459 --> 01:05:59.939
Schumerhorn was not from a speech he gave to black folks, but an interview he

01:05:59.939 --> 01:06:07.219
gave to the American Enterprise Institute, which is basically a conservative think tank.

01:06:07.219 --> 01:06:16.219
So he was talking to some reporters and, you know, Republican policymakers.

01:06:16.219 --> 01:06:23.339
You know, Robert Woodson is one of the OGs as far as black conservatism in America,

01:06:23.339 --> 01:06:27.219
but he had a positive relationship with Reverend Jackson and asked Reverend

01:06:27.219 --> 01:06:31.619
Jackson to come to that meeting to talk to that group,

01:06:32.139 --> 01:06:39.439
right, and make the case for black economic equity to them.

01:06:40.419 --> 01:06:47.339
So he was never afraid to go anywhere to fight for us, right?

01:06:47.619 --> 01:06:54.399
And no matter what some people thought of him or, you know, how judgmental people

01:06:54.399 --> 01:06:55.959
got when he made a mistake.

01:06:57.093 --> 01:07:01.053
And that is not the definition of his life.

01:07:01.313 --> 01:07:05.713
And that shouldn't be the definition of anybody's life, right?

01:07:06.033 --> 01:07:13.453
If you continue to build your legacy on your mistakes, well,

01:07:13.473 --> 01:07:14.673
that's a different conversation.

01:07:14.673 --> 01:07:19.913
And so when people ask me, well, why do you not like the current president?

01:07:19.913 --> 01:07:24.433
It's because he doesn't have any empathy.

01:07:24.653 --> 01:07:29.213
He doesn't have any attrition. He doesn't care about anybody but himself.

01:07:29.673 --> 01:07:32.373
And Reverend Jackson was the total opposite of that.

01:07:33.053 --> 01:07:41.033
And so that's why people are mourning his loss, even though they,

01:07:41.333 --> 01:07:44.753
you know, he was not the same man he was 20 years ago.

01:07:45.133 --> 01:07:50.153
You know, we knew that he was sick and all that stuff, but that doesn't matter.

01:07:50.593 --> 01:07:55.653
You know, the world was a better place because he was still in it. Right.

01:07:56.953 --> 01:08:00.793
And so even if he couldn't do the things that he used to do,

01:08:01.013 --> 01:08:05.793
just the knowledge of the fact that he was still around was comforting.

01:08:06.693 --> 01:08:10.053
And some people may not get that. You know, that's fine.

01:08:12.593 --> 01:08:13.553
But now...

01:08:14.351 --> 01:08:17.611
That we are in a grieving moment.

01:08:17.811 --> 01:08:22.351
And there's some people that are upset because he's saying he's not going to

01:08:22.351 --> 01:08:25.651
lay in the state of the Capitol and not flag at half-mast.

01:08:25.771 --> 01:08:30.271
Look, don't expect things from people that don't care about you,

01:08:31.251 --> 01:08:32.511
right? That don't respect you.

01:08:33.111 --> 01:08:36.291
Let's not dwell on that.

01:08:36.611 --> 01:08:43.331
What we need to dwell on is what he strove for, what Reverend Jackson was all

01:08:43.331 --> 01:08:46.171
about, which was building us up,

01:08:46.271 --> 01:08:54.711
not just as full citizens as far as being able to vote and public accommodations

01:08:54.711 --> 01:08:58.631
and all those things, but as far as building our wealth.

01:08:58.731 --> 01:09:02.151
And I just thought that the timing of Dr.

01:09:02.271 --> 01:09:08.191
Shermerhorn coming on while we're in this mourning period was so apropos because

01:09:08.191 --> 01:09:12.491
this is what Reverend Jackson fought for. He wanted us.

01:09:12.811 --> 01:09:20.671
And it was Dr. King's vision, you know, and he asked Reverend Jackson to lead that part of the vision.

01:09:21.994 --> 01:09:25.434
To build our economic base.

01:09:27.494 --> 01:09:33.274
Because it's like 15 cents on a dollar ain't going to cut it. It's just not.

01:09:33.914 --> 01:09:38.734
You know, $5 for every $100, that's not going to cut it.

01:09:39.134 --> 01:09:49.774
We have to continue to push, fight, protest, whatever we have to do to build

01:09:49.774 --> 01:09:52.034
Black wealth in this nation.

01:09:52.474 --> 01:09:57.694
And it doesn't matter how many Black folks they are in the country.

01:09:57.974 --> 01:10:00.214
What matters is the dollars.

01:10:01.014 --> 01:10:04.034
And we have it, in a sense.

01:10:04.254 --> 01:10:11.534
We have incredible spending power, but we don't have accumulated wealth.

01:10:12.374 --> 01:10:15.434
And that makes all the difference, right?

01:10:15.434 --> 01:10:23.714
If we were able to have tangible investments like homeownership and stocks and

01:10:23.714 --> 01:10:25.894
bonds and all those kind of things,

01:10:26.354 --> 01:10:30.714
that's what we need to do, you know.

01:10:31.134 --> 01:10:34.334
And it's hard. It's not easy.

01:10:34.794 --> 01:10:41.034
I'm a living witness to that. I have, you know, tried to have investments and

01:10:41.034 --> 01:10:45.754
all those kind of things just to try to set it up for my child and all that

01:10:45.754 --> 01:10:47.694
property, all that kind of stuff.

01:10:48.254 --> 01:10:50.514
But being black in America is tough.

01:10:51.954 --> 01:10:57.354
And if, you know, any hardship, I think it was either in Dr.

01:10:57.594 --> 01:11:02.654
Schirmerhorn's book or somewhere I was reading, it was like a black family is

01:11:02.654 --> 01:11:05.174
one sneeze away from being bankrupt. Right.

01:11:05.988 --> 01:11:09.748
Right. The one lady that he talked about and that we were talking about,

01:11:10.028 --> 01:11:14.448
this Miss Prather, Rachel Prather, she, like I said, she was an engineer.

01:11:14.708 --> 01:11:19.908
She had a car accident and it changed her whole life.

01:11:20.168 --> 01:11:26.348
It just the income, the steady job that she had and all that was gone just because of a car wreck.

01:11:26.608 --> 01:11:33.488
Her economic future was in peril because of a car accident. right?

01:11:34.448 --> 01:11:38.548
That's a tenuous situation. And it's not just Black people in America that are

01:11:38.548 --> 01:11:41.508
suffering, but that's who I'm focusing on now.

01:11:42.248 --> 01:11:47.088
So, you know, Reverend Jackson, that's what he was pushing for.

01:11:47.128 --> 01:11:52.968
And we're seeing a lot of people who, again, were not direct protégés of him

01:11:52.968 --> 01:11:57.108
or contemporaries, but they're doing the work.

01:11:57.568 --> 01:12:04.868
And so we need to support those people that are carrying that vision on and

01:12:04.868 --> 01:12:12.668
really figure out a way to make that a reality for us, you know.

01:12:13.248 --> 01:12:19.288
And I'm not saying it's going to be easy, but if we really want to honor Reverend

01:12:19.288 --> 01:12:26.608
Jackson, then all of us need to work toward that goal, right?

01:12:26.608 --> 01:12:35.648
And the way we do that is through public policy, which means that we got to

01:12:35.648 --> 01:12:40.608
elect people that understand that, that buy into that, right?

01:12:42.079 --> 01:12:46.419
There's a candidate, young man, John Ossoff, who's running for re-election in the U.S.

01:12:46.479 --> 01:12:52.699
Senate, and he's already basically coined this phrase Epstein class, right?

01:12:54.299 --> 01:12:59.139
And that's who our battle is against. So it doesn't matter if there's black

01:12:59.139 --> 01:13:03.859
folks in the Epstein class or there's white folks in Epstein or Latinos.

01:13:04.479 --> 01:13:09.959
You're part of the Epstein class. Your mindset is that you keep all the wealth

01:13:09.959 --> 01:13:11.899
and the rest of us have to fend for ourselves.

01:13:12.079 --> 01:13:19.299
If you've seen science fiction movies like Elysium or The Island or anything

01:13:19.299 --> 01:13:24.579
like that where people are perverse with their wealth or you read books like

01:13:24.579 --> 01:13:29.419
1984 where Big Brother's dictating to you what's happening.

01:13:30.559 --> 01:13:36.279
That's what defines the Epstein class. Those are the people that we are fighting, right? Right.

01:13:36.739 --> 01:13:42.039
So, you know, those hundred people that showed up at the White House for Black

01:13:42.039 --> 01:13:46.099
History Month, if you're part of that class, if that's what you want,

01:13:46.179 --> 01:13:47.639
then we're fighting you, too.

01:13:48.359 --> 01:13:53.399
It's nothing personal. I'm not going to tell you a sellout or a coon or anything

01:13:53.399 --> 01:13:55.499
like that. I'm just going to fight you.

01:13:56.459 --> 01:14:03.579
Right. Because the survival for the rest of us depends on us defeating the person you're supporting.

01:14:04.239 --> 01:14:07.859
That's just facts. Again, it's not personal.

01:14:08.619 --> 01:14:13.199
It's just where we are right now. You know, I don't have time to call you a name.

01:14:13.639 --> 01:14:19.399
I do have the energy, though, to do what I can to get people to vote against

01:14:19.399 --> 01:14:21.559
the guy that you support. Right?

01:14:22.339 --> 01:14:29.039
That's just the reality of where we are. And so, you know, again,

01:14:29.519 --> 01:14:36.459
if we want to honor Reverend Jackson, then let's fight for what we deserve.

01:14:38.090 --> 01:14:44.630
And what we deserve is to live life in America and live it abundantly.

01:14:45.230 --> 01:14:52.970
We deserve our pursuit of happiness, right? We deserve our seat at the table.

01:14:53.530 --> 01:14:57.490
I know Ms. Shirley Chisholm said, you know, if they don't offer your seat,

01:14:57.590 --> 01:14:59.670
bring a folding chair. That's all well and good.

01:15:00.910 --> 01:15:05.910
But we deserve a seat at the table. And it's time.

01:15:07.210 --> 01:15:14.530
And so I'll end it on that. I greatly appreciate y'all for listening and until next time.

Calvin Schermerhorn Profile Photo

Professor of History

I grew up in southern Maryland and after a divinity degree at Harvard and a PhD at the University of Virginia I became a historian of United States slavery and racial economic inequality. My latest book is The Plunder of Black America: How the Racial Wealth Gap Was Made, published this year.