Seeing Covid-19 through a subprime crisis lens: How structural and institutional racism have shaped 21st-Century crises in the UK and the US
Curry, Frank and Dymski, Gary and Lewis, Tanita J. and Szymborska, Hanna Karolina (2021) Seeing Covid-19 through a subprime crisis lens: How structural and institutional racism have shaped 21st-Century crises in the UK and the US. Review of Black Political Economy. ISSN 0034-6446
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Abstract
This special issue aims to use historical examples to gain insight into the socio-economic impact of, and possibilities of recovery from, the Covid-19 pandemic for Black communities. We approach this question by comparing the impact of the pandemic on Black Britons in the United Kingdom with that of the 2008 subprime crisis on Black Americans. We find that, in both cases, a pattern of racially asymmetric losses and race-neutral policy responses that have systematically ignored the disparate losses borne by Black and racial/ethnic minority communities. Both patterns are manifestations of these countries’ institutional racism. Relying on insights from stratification economics, and use of the concept of ‘racial formation’ introduced by Harold Baron in 1985, we show how these nations’ historical relationships to slavery and imperialism have led to different structures of racial control. Our review of UK government policy includes a critique of the March 2021 report of the UK Commission on Race and Ethnic Disparities.
| Item Type: | Article | ||||||
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| Identification Number: | https://doi.org/10.1177/00346446211065174 | ||||||
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| Uncontrolled Keywords: | institutional racism; Covid-19; subprime crisis; Black Britons; Commission on Race and Ethnic Disparities | ||||||
| Subjects: | CAH15 - social sciences > CAH15-01 - sociology, social policy and anthropology > CAH15-01-03 - social policy CAH15 - social sciences > CAH15-02 - economics > CAH15-02-01 - economics |
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| Divisions: | Faculty of Business, Law and Social Sciences > College of Accountancy, Finance and Economics Faculty of Business, Law and Social Sciences > College of Business, Digital Transformation & Entrepreneurship |
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| Depositing User: | Hanna Szymborska | ||||||
| Date Deposited: | 09 Nov 2021 16:31 | ||||||
| Last Modified: | 20 Jun 2024 12:05 | ||||||
| URI: | https://www.open-access.bcu.ac.uk/id/eprint/12405 |
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