Building an Inclusive Economy: Empowering Black and Brown Citizens for a Stronger Nation
Introduction:
As we commemorate the Fourth of July, a day that symbolizes the principles of freedom, independence, democracy, and the practice of capitalism, it is essential to reflect on the journey towards achieving true equality and economic empowerment for all citizens. As a black woman who grew up as a military kid, I have witnessed the importance of defending the Constitution, even as equal rights were not always extended to everyone. In this article, I invite you to explore the perspective of a multi-generational military family and the significance of prioritizing the economic participation of black and brown citizens, just as we prioritize their involvement in defending our Constitution.
The Promise of the Constitution:
Our Constitution, signed more thank 250 years ago, represents a powerful declaration of rights and promises equality to all citizens. While the initial vision was limited to white male Protestant landowners, our country has grown and evolved, expanding its definition of who can enjoy the benefits and protections of citizenship. This ongoing expansion, driven by changing social norms, celebrates our diversity and makes us a stronger nation. However, it is crucial to recognize that maintaining the promise of the Constitution requires continuous effort and vigilance.
Fighting for Freedom and Rights:
Throughout our history, we have fought in wars and conflicts to protect the Constitution and its rights. The battles won during the Revolutionary War and subsequent conflicts have shaped the values we hold dear. Our national anthem serves as a reminder of the commitment and sacrifices made to achieve the benefits and rights enshrined in our Constitution. This commitment to defense has been a significant driver in expanding rights to diverse citizens, moving from a predominantly white, male, Protestant group of landowners to a more inclusive citizenry.
The Changing Demographics and Leadership Gap:
While our nation’s demographics have changed significantly, our leadership has not kept pace with this transformation. As we celebrate this Fourth of July, it is important to recognize the generations of my family who have served in the military to protect our Constitution and the freedoms it guarantees. However, the commitment to diversity and inclusion in the military was not solely driven by a desire for equal access but also recognized the need for a well-trained, diverse military force. It was understood that the defense of our Constitution required the representation of all citizens who were willing to fight for this country.
Challenges in Economic Access:
In the quest for true equality, economic access plays a vital role. Black and brown entrepreneurs have historically faced significant barriers in accessing patient capital and diverse capital providers. To address this, it is crucial to mandate equitable access to relevant patient capital, ensuring that financial resources are available to those who have been excluded. By implementing policies that promote fair lending practices and targeted funding for underrepresented communities, we can level the playing field and empower black and brown entrepreneurs to thrive.
Embracing Inclusive Procurement and Sponsorship:
Corporate leaders have a crucial role to play in fostering economic inclusivity. Beyond token gestures of diversity, it is necessary to embrace inclusive procurement practices. This means actively seeking out and partnering with diverse suppliers, contractors, and service providers. By diversifying supply chains, companies contribute to economic empowerment and create a more inclusive business ecosystem.
Additionally, true sponsorship and allyship are essential for creating lasting change. Corporate leaders must advocate for and uplift black and brown voices, mentoring, sponsoring, and promoting individuals from underrepresented backgrounds. Embracing a mindset of shared economic outcomes, where success is not a zero-sum game, will lead to a society where everyone has an equal opportunity to succeed.
Harnessing the Power of Diversity:
It is crucial to overcome the fear and resistance often associated with economic inclusivity. Diverse teams and organizations consistently outperform homogenous counterparts, driving innovation and economic success. By embracing the talents and perspectives of black and brown citizens, we can unlock new avenues for growth and prosperity.
Furthermore, corporate leaders must recognize that diversity goes beyond consumer demographics. It requires a comprehensive approach that extends to inclusive procurement practices. By actively seeking out and supporting diverse suppliers, companies not only contribute to economic empowerment but also create a more resilient and competitive business environment. Embracing diverse and inclusive procurement practices not only benefits marginalized communities but also enhances the overall effectiveness of the supply chain.
True allyship and sponsorship are crucial components of fostering economic empowerment for black and brown citizens. It is not enough to simply invite diverse voices to the table; we must ensure they have an equal opportunity to thrive. Corporate leaders should advocate for policies and practices that promote equality, diversity, and inclusion throughout their organizations. By providing mentorship, sponsorship, and career development opportunities, we can cultivate the next generation of leaders who will drive economic growth and innovation.
Embracing a shared economic outcomes mindset is vital for our collective success. It is not a matter of dividing a limited pie but rather creating an environment where everyone can contribute and benefit. By prioritizing the economic empowerment of black and brown citizens, we can build a stronger, more resilient nation where opportunities are not limited by the color of one's skin but are based on merit and talent.
Conclusion:
As we celebrate the Fourth of July and reflect on the principles that define our nation, it is essential to recognize the unfinished work of achieving true equality and economic empowerment for all citizens. Just as we prioritize the defense of our Constitution by engaging black and brown citizens, we must prioritize their full participation in the growth of our economy. This requires mandating access to relevant patient capital and diverse capital providers, embracing inclusive procurement practices, and fostering true sponsorship and allyship.
By creating an inclusive economy where black and brown citizens have equitable access to resources, opportunities, and representation, we will fulfill the promise of our Constitution and strengthen our democracy. It is only through embracing diversity, inclusion, and shared economic outcomes that we can truly become a nation that embodies the principles of freedom, independence, and equality for all.
As we embark on this journey, I am committed to funding exceptional, diverse-led businesses and supporting initiatives that drive economic empowerment. Together, let us continue the fight for a more inclusive society, where the defense of the Constitution and the pursuit of economic prosperity go hand in hand.
Respectfully submitted,
Kim Tadlock Folsom and Kenneth B. Tadlock, Ret. USN WPO
