Cost of racism, Greatest albums of all time
Kanye’s quest to reshape music industry, South Africa on the brink, PAC-12 reversal
As Ruth Bader Ginsburg lies in state at the U.S. Capitol today, President Trump prepares to announce her replacement on the Supreme Court this Saturday—days before the late Justice will even be buried.
Federal Reserve Chairman Jerome Powell spent the week making the case for what should be obvious: the U.S. economy is in need of more fiscal stimulus, including enhanced unemployment benefits and a second round of the Paycheck Protection Program.
Rolling Stone released its monumental ranking of the 500 Greatest Albums of All Time. Marvin Gaye’s What’s Going On tops the list.
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👀 Cost Of Racism: U.S. Economy Lost $16 Trillion Because Of Discrimination
A conservative estimate to be sure:
“Since 2000, U.S. gross domestic product lost that much as a result of discriminatory practices in a range of areas, including in education and access to business loans, according to a new study by Citigroup. It's not an insignificant number: By comparison, U.S. GDP totaled $19.5 trillion last year.”
“And not acting to reverse discriminatory practices will continue to exact a cost. Citigroup estimates the economy would see a $5 trillion boost over the next five years if the U.S. were to tackle key areas of discrimination against African Americans.”
(NPR)
🎧 Kanye West Says He'll Give G.O.O.D. Artists Back Their Masters
“In efforts to give artists the same autonomy he's been fighting his labels Universal Music Group and Sony/ATV for all over Twitter, Kanye West is returning his share of his artists' masters.”
“That roster boasts Big Sean, 070 Shake, Pusha T, Desiigner, Teyana Taylor, John Legend, and many more.”
The desired effect will only be achieved when every artist owns their masters. I’m Team “Free Artists.” I’m committed to doing whatever is necessary so artists own their own copyrights. The response is awesome because everyone knows this is a broken system that needs to be fixed.
- Kanye West
(Billboard)
🌍 South Africa’s Promise of Racial Equality Falters Under Pandemic
“A quarter-century after Nelson Mandela became president with a promise to empower South Africa’s Black majority, the world’s most unequal society is cracking under the weight of a coronavirus outbreak that has ripped through impoverished townships and informal settlements where people can’t socially distance.”
“The lockdown slowed the pace of infections, but has had a devastating effect on livelihoods—especially among the poor. In April, the most recent month for which data is available, some 43% of Black workers were laid off or furloughed, compared with 17% of white workers, according to nationally-representative a survey of 7,000 South Africans conducted by a group of academics. Forty-seven percent of all households said they ran out of money to buy food.”
We are over the tipping point now. We’ve been going down slowly, slowly, but Covid-19 is pushing us faster down.
- William Gumede, Democracy Works Foundation
(Wall Street Journal)
🏈 Pac-12 to play seven-game football slate starting in November
“The decision, voted on by the Pac-12's CEO group on Thursday, represents an official reversal after the conference announced in early August it would postpone all sports until at least Jan. 1, citing health concerns related to the coronavirus pandemic.”
“Every Pac-12 team will play the five opponents in its division, plus a divisional crossover game, prior to the Dec. 18 conference championship game. The teams that do not qualify for the title game will play an additional conference game against a squad from the opposite division the same weekend. The Pac-12 will release its full schedule of games in the next few days, the conference said.”
(ESPN)