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The United States economy could be $8 trillion larger by 2050 if the country eliminated racial disparities in health, education, incarceration and employment, according to "The Business Case for Racial Equity: A Strategy for Growth." The gains would be equivalent to a continuous boost in GDP growth of 0.5 percent per year, increasing the competitiveness of the country for decades to come. The national study released today by the W.K. Kellogg Foundation (WKKF) and Altarum concludes that while racial inequities needlessly stifle economic growth, there is a path forward.The report projects a tremendous boost to the country's workforce and consumer spending when organizations take the necessary steps to advance racial equity. Led by Ani Turner, co-director of Sustainable Health Spending Strategies at Altarum, researchers analyzed data from public and private sources, including the U.S. Census, Johns Hopkins University, Georgetown University, Brandeis University and Harvard University. Their methodology included applying established models to estimate the economic impact of the disparities faced by people of color.
The purpose of this report is to highlight the business case for racial equity -- stressing the importance of racial equity as both an imperative for social justice and a strategy for New Mexico's economic development and growth. As advancing racial equity requires the work of many stakeholders, we hope that the information in this report will be meaningful, useful and actionable for leaders, change agents and influencers within New Mexico's businesses, communities, and institutions.
The purpose of this report is to highlight the business case for racial equity -- stressing the importance of racial equity as both an imperative for social justice and a strategy for New Orleans' and Louisiana's economic development and growth. As advancing racial equity requires the work of many stakeholders, we hope that the information in this report will be meaningful, useful and actionable for leaders, change agents and influencers within New Orleans' and Louisiana's businesses, communities, and institutions.
In the coming years, Mississippi stands to realize a $54 billion gain in economic output by closing the racial equity gap. This report seeks to expand the narrative associated with racial equity by adding a compelling economic argument to the social justice goal. Beyond an increase in overall economic output, advancing racial equity can translate into meaningful increases in consumer spending and tax revenues, and decreases in social services spending and health-related costs. The potential economic and social gains are significant.
The purpose of this report is to highlight the business case for racial equity -- stressing the importance of racial equity as both an imperative for social justice and a strategy for Michigan's economic development and growth. Advancing racial equity requires the work of many stakeholders; this report provides meaningful, useful and actionable information for leaders, change agents and influencers within Michigan's businesses, communities and institutions.
This 2015 report by the Altarum Institute and the W.K. Kellogg Foundation details the cost of failing to address the legacy of racism in the state and the benefits to communities from advancing racial equity.
Striving for racial equity -- a world where race is no longer a factor in the distribution of opportunity -- is a matter of social justice. But moving toward racial equity can generate significant economic returns as well. When people face barriers to achieving their full potential, the loss of talent, creativity, energy, and productivity is a burden not only for those disadvantaged, but for communities, businesses, governments, and the economy as a whole. Initial research on the magnitude of this burden in the United States (U.S.), as highlighted in this brief, reveals impacts in the trillions of dollars in lost earnings, avoidable public expenditures, and lost economic output.
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