Monthly Archives: June 2013

HBCU Money™ Business Book Feature – Invisible Men: Mass Incarceration and the Myth of Black Progress


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For African American men without a high school diploma, being in prison or jail is more common than being employed–a sobering reality that calls into question post–Civil Rights era social gains. Nearly 70 percent of young black men will be imprisoned at some point in their lives, and poor black men with low levels of education make up a disproportionate share of incarcerated Americans. In Invisible Men, sociologist Becky Pettit demonstrates another vexing fact of mass incarceration: most national surveys do not account for prison inmates, a fact that results in a misrepresentation of U.S. political, economic, and social conditions in general and black progress in particular. Invisible Men provides an eye-opening examination of how mass incarceration has concealed decades of racial inequality.

Pettit marshals a wealth of evidence correlating the explosion in prison growth with the disappearance of millions of black men into the American penal system. She shows that, because prison inmates are not included in most survey data, statistics that seemed to indicate a narrowing black-white racial gap–on educational attainment, work force participation, and earnings–instead fail to capture persistent racial, economic, and social disadvantage among African Americans. Federal statistical agencies, including the U.S. Census Bureau, collect surprisingly little information about the incarcerated, and inmates are not included in household samples in national surveys. As a result, these men are invisible to most mainstream social institutions, lawmakers, and nearly all social science research that isn’t directly related to crime or criminal justice. Since merely being counted poses such a challenge, inmates’ lives including their family background, the communities they come from, or what happens to them after incarceration are even more rarely examined. And since correctional budgets provide primarily for housing and monitoring inmates, with little left over for job training or rehabilitation, a large population of young men are not only invisible to society while in prison but also ill-equipped to participate upon release.

Invisible Men provides a vital reality check for social researchers, lawmakers, and anyone who cares about racial equality. The book shows that more than a half century after the first civil rights legislation, the dismal fact of mass incarceration inflicts widespread and enduring damage by undermining the fair allocation of public resources and political representation, by depriving the children of inmates of their parents’ economic and emotional participation, and, ultimately, by concealing African American disadvantage from public view.

Becky Pettit is professor of sociology at the University of Washington.

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HBCU Money™ Dozen Links 6/24 – 6/28


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Did you miss HBCU Money™ Dozen via Twitter? No worry. We are now putting them on the site for you to visit at your leisure. We have made some changes here at HBCU Money™ Dozen. We are now solely focused on research and central bank articles from the previous week.

Research

The Future of Transportation l Argonne. bit.ly/14D4PzZ

Tracking Near-Earth Asteroids for Science & Humanity l EPA Research 1.usa.gov/19Ibyf6

Want to build a super telescope? Try using the sun as a giant lens l SLAC nyr.kr/13ehr3z

Real time Data Accessible for a Lake Superior Beach l Minnesota Sea Grant seagrant.umn.edu/news/2013/06/28

African SMEs can access loans up to $25k through crowd-funding at Higher Circle l Grow Africa ow.ly/muULQ

Where were #horses domesticated? l Kentucky Equine Researhc ow.ly/muUOt

Federal Reserve, Central Banks, & Financial Departments

What does a “quality education” really mean? l World Bank ow.ly/muURP

Women in the #MENA region still have the world’s lowest rates of labor force participation. l World Bank wrld.bg/ms3Oa

Surveyed #financial educators from public private & nonprofit sectors to assess practices & needs l Boston Fed:ow.ly/muUYx

Southeastern housing markets remain lackluster due to shortages l Housing Wire hwi.re/3ZxLSl

The Economic Recovery: Past, Present, and Future l San Francisco Fed ow.ly/muV6R

Video: See why it matters that families’ net worth is still reeling from the financial crisis l St. Louis Fed bit.ly/11rtx2r

Thank you as always for joining us on Saturday for HBCU Money™ Dozen. The 12 most important research and finance articles of the week.

The HBCU Money™ Weekly Market Watch


Our Money Matters /\ June 28, 2013

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $6.33 (12.04% UP)

Radio One (ROIA) $2.44 (3.35% UP)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  210.90 (0.38% DN)

Botswana Stock Exchange (BSE)  8 688.50 (0.00% UNCH)

Ghana Stock Exchange (GSE)  1 880.26 (56.72% UP)*

Nairobi Stock Exchange (NSE)  116.31 (N/A)

Johannesburg Stock Exchange (JSE) 39 295.80 (0.54% UP)

International Stock Exchanges

New York Stock Exchange (NYSE) 9 112.69 (0.34% DN)

London Stock Exchange (LSE)  3 289.71 (0.38% DN)

Tokyo Stock Exchange (TOPIX)  1 133.84 (3.19% UP)

Commodities

Gold 1 233.70 (1.82% UP)

Oil 96.43 (1.86% DN)

*Ghana Stock Exchange shows current year to date movement. All others daily.

All quotes reported as of 5:00 PM Eastern Time Zone

HBCU Money™ Business Book Feature – An Economic Interpretation of the Constitution of the United States


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A CONTROVERSIAL INTERPRETATION OF THE FOUNDERS INTENTIONS. Originally published: New York: The Macmillan Company, 1925. Beard’s interpretation proposes that the Framers of the Federal Constitution were motivated primarily by economic concerns. This argument was widely held until the late 1950s, when it was gradually undermined by later research, much of it stimulated by Beard’s work. Although most scholars today see the origins of the revolution in terms of the history of ideas, especially republicanism, Beard s work remains fundamental and has insured a continued focus on the economic aspect of the nation s establishment, as well as a wider awareness of the role of economic interests in history.

HBCU Money™ Dozen Links 6/17 – 6/21


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Did you miss HBCU Money™ Dozen via Twitter? No worry. We are now putting them on the site for you to visit at your leisure. We have made some changes here at HBCU Money™ Dozen. We are now solely focused on research and central bank articles from the previous week.

Research

Argonne’s Rick Stevens discussing China’s supercomputing push l Argonne

For , form of salt affects water intake l KY Equine Research

2 months more to apply! $4.1M Grant for National Center for in Small Drinking Water Systems l EPA

Meteorological Versus Astronomical Summer—What’s the Difference? l NSSL

A city “works like a star.” New math model explains the common properties of cities l SLAC

Elikem Kuenyehia: Improving Ghana’s Business Climate – Access to Finance is key l Grow Africa

Federal Reserve, Central Banks, & Financial Departments

“After the Fall: Rebuilding Family Balance Sheets, Rebuilding the Economy” l St. Louis Fed

House won’t consider 2014 agriculture spending bill next week l Floor Action

Increasing mortgage rates will not ruin the housing recovery l Housing Wire

Teachers: Join us this summer for any of our free, professional development workshops l Kansas City Fed

Underemployment, College Graduates, and the Recession l Cleveland Fed

Who lost the most wealth in the Great Recession? Learn more in our new annual report l St. Louis Fed

Thank you as always for joining us on Saturday for HBCU Money™ Dozen. The 12 most important research and finance articles of the week.