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Promises were made

Bloomberg Equality
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This week's top headlines:  

More than one Twitter comedian  suggested that future historians will specialize in specific months, weeks or single days of this year. Beyond the colossal impact of the pandemic and the relentless political news cycle, 2020 may also prove a tipping point for the Black Lives Matter movement—and racial and ethnic equality more broadly.

"I think 2021 is where the proof is truly in the pudding," said Karen Boykin-Towns, senior counselor at Sard Verbinnen & Co and vice chair of the NAACP National Board of Directors. "You have to start showing the accomplishments. You have to start showing advancements have been made."

Another round of police killings and brutality sparked massive demonstrations, and this time, people and institutions from Corporate America and the campaign trail joined in. Bank of America announced it would allocate $1 billion over four years to community programs to address economic and racial inequality; The National Football League— whose treatment of Colin Kaepernick helped kick off the current wave of activism—vowed to consider more minorities for head coaching positions; Hundreds of advertisers temporarily boycotted Facebook, accusing the social media giant of allowing hate speech to proliferate.

A mural painted in front of Trump Tower in New York City. 

Photographer: David Dee Delgado/Getty Images

The outrage—and action—haven't been confined to the U.S. Carrefour Brasil pledged to fight racism in that country after store security guards killed a Black man. Johnson & Johnson said it would stop selling the skin-lightening products that are popular in India, East Asia and the Middle East. Nike Japan launched an anti-racism campaign that hit at deep and sensitive prejudices. Lloyd's reckoned with a gaping pay gap between its Black and White employees.  

Those actions overshadowed the seismic shift on race occurring in private. Everyday people had tough conversations about race in their workplaces, churches and friendship networks. In the U.S., the election also ushered in Kamala Harris, whose mixed-race heritage will make her the first Black woman and first Asian American to serve as vice president.

What 2020's attention and activism will mean in the coming years is an open question. Will TV networks hire more diverse casts and tell more nuanced stories about marginalized communities? Will companies make good on their promises to hire more people of color—and then remove the obstacles to advancement? Will Covid response measures and economic recovery policies benefit groups equally—or even, possibly, right historic wrongs? Or will all this "race talk" just lead to fatigue, as some polls suggest?

In his victory speech last month, U.S. President-elect Joe Biden seemed to acknowledge the challenges that lie ahead as the country seeks to dismantle systematic racism. He called it one of "the great battles of our time." It will be a long time before we know who's winning. 

By the Numbers

Billionaires are the most visible targets for anger about inequality, but Bloomberg Opinion columnist Noah Smith suggests there's more to the problem. The U.S. Gini index shows a split emerged in the 1980s between the upper and lower middle class that has since become entrenched. This middle-class stratification, he writes, "may be having a long-term corrosive effect on American society and politics."

 

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