Black Families and Recession in the United States: The Enduring Impact of the Great Recession of 2007–2009 (Routledge Research in Race and Ethnicity)

__Black Families and the Recession in the United States__ goes beyond the massive loss of property among African Americans during the Great Recession of 2007–2009. It connects the housing experience to broader systems of inequality in America. Following the Great Recession of 2007–2009, the US elections of 2008, the impact of COVID-19, and widespread demonstrations resulting from the murder of George Floyd by police, the sociopolitical and economic status of Blacks in the United States is at a critical point in history, with demand for major transformation. The authors reveal a history of racist practices against Blacks in many systems, including education, policing, incarceration, wealth transmission, voting restrictions, and housing segregation. The social costs of the recession are manifested in the daily lives of African American families. In addition to financial losses, African Americans are more likely to be plagued with issues related to poverty, chronic illnesses, and lack of trust of social and economic institutions. Research, policy, and practical implications of this research include identifying social and economic supports unique to African Americans and determining strategies to strengthen families; paramount to addressing racial disparities. The interdisciplinary focus of this book appeals to a wide audience and areas of study. This book reveals a history of racist practices against Blacks in many systems, including education, policing, incarceration, wealth transmission, voting restrictions, and housing segregation. The social costs of the recession are manifested in the daily lives of African American families. Cover 1 Half Title 2 Series Page 3 Title Page 4 Copyright Page 5 Table of Contents 6 Dedication 10 List of illustrations 11 Foreword 12 Preface 16 Acknowledgments 17 Chapter 1 Introduction and overview 18 Structure of the book 21 Conclusion 23 References 24 Chapter 2 Perspectives and theoretical frameworks for studying African American families 26 Intersectionality 27 Color-blind racism and privilege 30 Structural racism and intergenerational transfers 31 The new racism 31 Conclusion 32 References 33 Chapter 3 Race and its use in American society 35 Systematic racism and how it is maintained 36 The problem of the twenty-first century 39 Structural racism: A tale of two Americas 40 Conclusion 43 References 43 Chapter 4 The Great Recession of 2007–2009: Causes, consequences, and impact on African American family life 46 What caused the banking crisis? 46 Hidden costs of the Great Recession 49 Labor market effects and social costs 49 What makes the 2007–2009 Recession “Great”? 50 How the Great Recession impacted African American family life 50 The aftermath of the Great Recession: What brought the recession to an end? 52 New financial legislation post-recession 53 The Dodd–Frank Act 53 Conclusion 55 References 55 Chapter 5 Housing and wealth: How the Great Recession shattered the American Dream 57 A history of housing segregation in the United States 57 Differential impact on American communities 60 Predatory lending and racial discrimination 61 Hardest-hit cities in the United States 62 Black populations in the hardest-hit cities: Impact on specific African American communities 63 Memphis, Tennessee 65 Prince George’s County, Maryland 66 Conclusion 68 Note 69 References 69 Chapter 6 How the Great Recession changed household economics for African Americans 72 Wealth and home ownership 73 Changes in daily household expenses 75 Loss of assets 76 Need for public assistance following the Great Recession 76 Conclusion 78 References 78 Chapter 7 The widening of the racial wealth gap during and after the Great Recession 81 Household wealth 83 Wealth and class differences 83 Factors related to the accumulation of wealth 84 Income disparities and household financial characteristics 85 Demographic profiles by race/ethnicity: Family structure, education, and intergenerational wealth transmission 86 College enrollment and completion 87 Public sector layoffs among African Americans workers 90 Cuts in public sector employment: More damaging for African American families 91 Savings 92 Retirement accounts and investments 93 Recommendations for retirement security among Blacks 94 The role of income in mending the wealth gap 95 Conclusion 95 References 96 Chapter 8 The impact of incarceration on African American families 98 Incarceration and the perpetual punishment of African Americans 98 The impact of incarceration on children 104 Conclusion: Policy considerations and future research 108 References 111 Chapter 9 Progress in African American communities during the Obama administration and beyond 114 Enhancing health with the Affordable Care Act 115 Education 116 Criminal justice 117 African American judicial appointees 118 Conclusion 118 References 120 Chapter 10 Discussion 121 Ten years after the Great Recession 126 The effect of the financial crisis on home ownership among African American families ten years later 127 Inequality: Historical impact on African Americans 128 References 129 Index 132 Black,Families;,Recession;,Race;,Great,Recession;,African,American;,Civil,Rights,Movement;,communities;,discrimination;,ethnicity;,Hispanics;,unemployment;,homeownership Black Families,Recession,Race,Great Recession,African American,Civil Rights Movement,communities,discrimination,ethnicity,Hispanics,unemployment,homeownership "Black families and the Recession in the United States goes beyond the massive loss of property among African Americans during the Great Recession of 2007-2009. It connects the housing experience to broader systems of inequality in America. Following the Great Recession of 2007-2009, the U.S. elections of 2008, the impact of COVID -19, and widespread demonstrations resulting from the murder of George Floyd by police; the socio-political and economic status of Blacks in the U.S. is at a critical point in history with demand for major transformation. The authors reveal a history of racist practices against Blacks in many systems, including education, policing, incarceration, wealth transmission, voting restrictions, and housing segregation. The social costs of the recession are manifested in the daily lives of African American families. In addition to financial losses, African Americans are more likely to be plagued with issues related to poverty, chronic illnesses, and lack of trust of social and economic institutions. Research, policy and practical implications of this research include identifying social and economic supports unique to African Americans and determining strategies to strengthen families; paramount to addressing racial disparities. The interdisciplinary focus of this book appeals to a wide audience and areas of study"-- Provided by publisher