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This is a governance moment. We can master governing for all people by bringing a racial equity consciousness to every aspect of how government does business. We have an unprecedented opportunity to strengthen our democracy by fully activating our multiracial population and building a nation where everyone participates, prospers, and reaches their full potential.
In this second session of the Foundations of Racial Equity Series, we explore racial capitalism, which describes the current economic system of extracting social and economic value from people of color. Racial capitalism is based on the theft, exclusion and exploitation of the land, labor, and capital of people of color. Philanthropy—as a social, political, and economic strategy of society’s wealthiest people, mostly white men, and institutions that “do good” while moving wealth without tax exposure— upholds racial capitalism.
Anti-Black racism and white supremacy are embedded in philanthropy and in our institutions, often invisible to the majority of us, even as we work with intention towards equity and justice. As change agents within philanthropy, we are stretching to become our best selves, rise to the moment, and progress toward racial equity.
2024 promises to be a momentous year for democracy—locally, nationally, and globally. Over 4 billion people are living in countries with major elections this year. In the United States, we will also face familiar but obstinate challenges, including the dearth of local news and youth disaffection with voting and institutions. We will also face challenges that are new in this digital era, namely disinformation turbocharged by generative AI that has enormous power to deceive voters, undermine trust, and destabilize our information ecosystems.
If you know me, you know how central my mother was in my life. I often say I do what I do because of my father, but I am what I am because of her. So when her birthday rolled around recently and my sister Nadine mentioned she’d unearthed some more papers of hers, I was naturally interested. In particular, Nadine found notes my mother had made on a 1948 article titled Health Problems of Negroes in Richmond. I was equally impressed by the depth of the analysis of the article and the thoughtful notes my mother had made on it. Some of its findings might sound familiar:
NCG member the William and Flora Hewlett Foundation announced yesterday that Emiko Ono has been named the new Program Director of its Performing Arts Program. Emiko has been a sharp and engaging member of NCG's Arts Loan Fund Steering Committee since 2011. Join us in congratulating her on the new role!
How can corporate philanthropy be responsive to the demands of this moment? It's a question rooted in the very nature of a capitalist economic system, where corporations focus on maximizing returns exacerbates inequities. Into that mix, corporate foundations and champions of social responsibility mobilize their companies’ resources and talent to restore community balance and advance social good.