In recent years, the stark reality of financial disparities and social class inequities in America has gained renewed attention. These disparities are not just economic anomalies but deeply rooted issues that have been perpetuated by historical and systemic racism here in the U.S., including the contributions of psychologists and social scientists in constructing and maintaining ideas of human hierarchy. As we look at the facts and figures, it becomes evident that this is a national crisis that demands immediate and sustained action. The Pearls of Grace, Inc. has launched the FREE SQUARE Movement, a bold initiative aimed at addressing these disparities and promoting financial equity for communities of color.

The Historical Context

WHEREAS psychologists created, sustained, and promulgated ideas of human hierarchy through the construction, study, and interpretation of racial difference, and therefore contributed to the financial wealth gap and social class disparities experienced by many communities of color (Cummings Center, 2021).

From the 19th century onwards, psychologists and other social scientists developed racial theories and classifications that placed certain racial groups above others. The eugenics movement, led by figures like Francis Galton, used pseudo-scientific methods to argue for the superiority of white people. These ideas justified discriminatory laws and practices, including segregation and immigration restrictions.

Intelligence testing, pioneered by psychologists such as Henry H. Goddard and Lewis Terman, further entrenched these disparities. These tests, often biased and culturally loaded, led to conclusions that certain racial groups were inherently less intelligent, thereby justifying unequal educational opportunities and job discrimination.

The Impact on Wealth and Social Class

The financial disparities resulting from these historical injustices are staggering. According to the Federal Reserve’s 2019 Survey of Consumer Finances:

• The median wealth of white families was $188,200.
• The median wealth of Black families was $24,100.
• The median wealth of Hispanic families was $36,100.

Homeownership, a major contributor to wealth, shows similar disparities. In 2020, the U.S. Census Bureau reported:

• The homeownership rate for white households was 74.5%.
• The homeownership rate for Black households was 44.1%.
• The homeownership rate for Hispanic households was 49.1%.

Income disparities also reflect this inequity. According to the U.S. Census Bureau’s 2020 data:

• The median household income for white households was $76,057.
• The median household income for Black households was $45,870.
• The median household income for Hispanic households was $55,321.

Education and Employment Disparities

Educational disparities further perpetuate these financial gaps. High school graduation rates (2018-2019) show:

• White students: 89%
• Black students: 80%
• Hispanic students: 82%

College graduation rates (2019) indicate:

• White students: 45.9% (Bachelor’s degree or higher for ages 25+)
• Black students: 26.1%
• Hispanic students: 19.8%

Employment statistics reveal occupational segregation and higher unemployment rates for communities of color. In 2020, the unemployment rates were:

• White: 7.3%
• Black: 11.4%
• Hispanic: 10.4%

The Health and Social Costs

Health disparities also highlight the broader impacts of these inequities. In 2020, the uninsured rates were:

• White: 6.3%
• Black: 10.4%
• Hispanic: 18.7%

Communities of color generally experience worse health outcomes, including higher rates of chronic diseases and lower life expectancy. Poverty rates (2020) further underscore these challenges:

• White: 9.6%
• Black: 19.5%
• Hispanic: 17.0%

The Cry for Justice

The prolonged bouts of poverty, especially intergenerational poverty, lead to toxic stress, which is a form of trauma. This trauma affects individuals’ mental and physical health, educational outcomes, and overall quality of life. Addressing these disparities is not just an economic issue but a moral imperative.

The Path Forward: The FREE SQUARE Movement

The Pearls of Grace, Inc. has launched the FREE SQUARE Movement as a viable solution to address these deep-seated inequities. This movement advocates for a multi-faceted approach to bring about meaningful change. It supports policy interventions such as affirmative action, community investment programs, and educational grants to reduce disparities. Additionally, it emphasizes the importance of empowering grassroots movements by community organizations and advocacy groups to tackle social class disparities through various initiatives. Moreover, the movement encourages corporations and philanthropic organizations to focus on diversity, equity, and inclusion (DEI) initiatives, fostering a more inclusive and equitable society.

To support the advocacy efforts of Pearls of Grace, Inc., and the transformative initiatives of the FREE SQUARE Movement, we invite you to consider making a donation. Your contributions will help sustain and expand these critical efforts towards financial equity and social justice.

Conclusion

It is time for a national wake-up call! The financial wealth gap and social class disparities are not just statistics but real issues that affect millions of lives. By acknowledging the historical and systemic roots of these inequities and taking bold actions towards financial equity, we can create a future where all communities, regardless of color, can thrive. The FREE SQUARE Movement is a step in this direction, and it calls upon all of us to join in this crucial effort for justice and equality. Let us support and advocate for change, ensuring that every voice is heard and every community is given the opportunity to flourish.

We also encourage you to support Nigisti HiSmith Ministries, Inc., a community development organization dedicated to bringing real change to communities of color. Donations to this organization will directly impact their ongoing work to improve the lives of those in underserved communities.

Additionally, consider contributing to the Odyssey Academy, an innovative educational institution that revolutionizes privatized education by making identity the standard and cultural heritage a birthright. Your donations will help provide a unique and empowering K-12 educational experience to the next generation of leaders. The Odyssey Academy is not just an educational institution, it is a journey to discovering who you are.

Together, through these concerted efforts and your generous support, we can pave the way towards a more equitable and just society.

For more information on the FREE SQUARE Movement and how you can get involved, please visit the Pearls of Grace, Inc. website.