While the murder of George Floyd sparked nationwide protests against police brutality and racism, another form of injustice remains deeply embedded in American society: economic violence. This systemic form of oppression has affected African Americans for over 400 years and continues to shape economic outcomes today.

Understanding Economic Violence

Economic violence occurs when one party disenfranchises, subjugates, or financially abuses another. This can be perpetrated by individuals, companies, organizations, governments, institutions, or entire systems. While many groups face economic discrimination, the African American experience represents a particularly persistent and devastating case.

A History of Economic Oppression

Since 1619, African Americans have endured relentless economic violence. For approximately 250 years under slavery, Black Americans provided forced, unpaid labor that transformed the United States into an economic powerhouse. Cotton, the world’s leading commodity during the first Industrial Revolution, was harvested primarily through slave labor.

After the Civil War (1861-1865), newly “freed” Black Americans faced insurmountable economic challenges. Consider the psychological impact: generations of ancestors who worked their entire lives receiving nothing for their labor. Even for determined, intelligent, and hardworking Black individuals, the system was designed to prevent advancement.

From Black Codes to Jim Crow

During Reconstruction (1865-1877), “Black Codes” emerged—racist laws explicitly designed to maintain white economic dominance. These codes inflicted massive economic violence by restricting African Americans from:

• Owning certain property
• Renting or leasing land
• Selling farm products
• Working in preferred occupations
• Holding multiple jobs

These restrictions evolved into Jim Crow laws (1877-1950s), which institutionalized segregation and codified disparate treatment of Black Americans in education, employment, taxation, and critically, housing.

Housing Discrimination and Wealth Creation

Housing discrimination deserves special attention because home ownership represents the primary wealth-building vehicle for most Americans. Economic violence in housing took many forms:

• Redlining practices by banks and insurers who refused services to Black neighborhoods or charged exorbitant rates
• Federal government policies that overwhelmingly favored white homebuyers—from the 1930s to 1960s, 98% of federally insured home loans went to white Americans, doubling their homeownership rate from 30% to 60% and creating the white middle class

While legislation attempted to address these issues (the 1968 Fair Housing Act, 1974 Equal Credit Opportunity Act, and 1977 Community Reinvestment Act), these measures provided only partial solutions, allowing economic violence to persist.

The Present-Day Wealth Gap

Today’s economic disparities reflect these deliberate historical policies:

• White wealth is approximately ten times that of Black Americans: $171,000 vs. $17,600 (Federal Reserve Bank)
• White median income is around $71,000 compared to $41,361 for Black households (Census Bureau)
• White homeownership stands at 74% versus 44% for Black Americans (National Association of Realtors)

Even in current times, research from the Federal Reserve, Stanford, and UC Berkeley shows that Black mortgage applicants with identical assets, income, and credit scores as white applicants receive higher interest rates or more frequent denials.

Moving Forward: Systemic Change

Addressing these injustices requires comprehensive systemic and structural reform. After slavery, America implemented strategic, intentional efforts to maintain white economic advantages while disenfranchising Black Americans. We need equally deliberate strategies to dismantle this legacy of oppression:

• Changing discriminatory laws
• Revamping practices, policies, and procedures
• Restructuring or dismantling oppressive systems
• Considering reparations as a necessary step toward reconciliation

The recent global protests following George Floyd’s murder suggest a potential shift in consciousness. If this represents genuine change, we must address both racial violence and the economic violence that sustains it.

Only by confronting the full spectrum of systemic racism—including its economic dimensions—can America begin to heal its deep racial wounds and create a more just society for all.