john a. powell: Government Plays a Substantial Role in Wealth Creation
Government creates the rules of the game for wealth accumulation and distribution. The robber barons were heavily subsidized; railroads, oil, almost any industry. The development of the Internet was subsidized. We need to repurpose government so that once again it is investing in people and not just in the elites. — john a. powell, UC Berkeley Haas Institute for a Fair and Inclusive Society
Prof. john a. powell also pointed out that we need to connect the wealth gap between people of color and whites with the gap between middle-class whites and the elites. The conversation about inequality focuses a lot on the latter and not at all on the former.
john powell was part of the panel, “Making Equity Work: Designing and Implementing Policies to Close the Racial Wealth Gap,” at the 2015 Color of Wealth Summit.