PanaTimes

Monday, Mar 27, 2023

U.S. Black farmers lost $326 bln worth of land in 20th century -study

U.S. Black farmers lost $326 bln worth of land in 20th century -study

Black farmers in the United States lost roughly $326 billion worth of acreage during the 20th century, according to the first study to quantify the present-day value of that loss.
Land loss is a contributor to the racial wealth gap in the United States and an issue that has marred the relationship between the U.S. Department of Agriculture (USDA) and minority farmers.

"Wealth and land is one way in this country that you're able to grow opportunity for your family," said Dr. Dania Francis, professor of economics at the University of Massachusetts-Boston and lead author of the study published on Sunday in the American Economic Association's Papers and Proceedings journal.

"When huge groups of African Americans were denied that opportunity, it speaks to the intergenerational wealth gap that opened up in part due to this type of land loss," Francis added.

The land loss was due to discriminatory USDA lending policies and forced sales of co-owned land called heirs' property, among other factors, the study said.

The study calculated the compounded value of declining acreage owned by African Americans between 1920 and 1997 in the 17 states where almost all Black-owned farms were documented, using data from the USDA Census of Agriculture.

"This is not just theoretical, but this is empirical," said Dr. Darrick Hamilton, economics professor at The New School and another of the study's authors. "These are real losses that occurred."

In 1910, Black farmers owned more than 16 million acres of land, according to experts. In 2017, when the most recent agricultural census was done, that figure was just 4.7 million acres, about 0.5% of all farmland.

The $326 billion figure is a conservative estimate, said the study authors, in part because it does not account for multiplier effects, like whether Black farmers could have used lost land as collateral to make other investments.

A Biden administration effort to provide debt relief to farmers of color as part of the American Rescue Plan Act, framed as repair for past USDA discrimination, is currently stalled in court after white farmers argued it was discriminatory. L1N2SY2JW
Newsletter

Related Articles

PanaTimes
Close
0:00
0:00
Singapore’s Prime Minister says China and US need to stabilize relations because world can't afford a confict between the two superpowers
Gordon Moore, a co-founder of Intel Corporation, died at 94
Powell: Silicon Valley Bank was an 'outlier'
Bordeaux town hall set on fire in France pro democracy protest
Police violence in Paris
Donald Trump arrested – Twitter goes wild with doctored pictures
NYPD is setting up barricades outside Manhattan Criminal Court ahead of Trump arrest.
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
Paris Rioting vs Macron anti democratic law
'Sexual Fantasy' Assignment At US School Outrages Parents
The US government has charged Chinese businessman Guo Wengui with leading a $1 billion fraud scheme that cheated thousands of followers out of their money.
Credit Suisse to borrow $54 billion from Swiss central bank
Russian Hackers Preparing New Cyber Assault Against Ukraine
"Will Fly Wherever International Law Allows": US Warns Russia After Drone Incident
If this was in Tehran, Moscow or Hong Kong
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
Drew Barrymore
China is calling out the US, UK, and Australia on their submarine pact, claiming they are going further down a dangerous road
A brief banking situation report
Lady bites police officer and gets instantly reaction
We are witnessing widespread bank fails and the president just gave a 5 min speech then walked off camera.
Donald Trump's asked by Tucker Carlson question on if the U.S. should support regime change in Russia?.
Silicon Valley Bank exec was Lehman Brothers CFO
Elon Musk Is Planning To Build A Town In Texas For His Employees
The Silicon Valley Bank’s collapse effect is spreading around the world, affecting startup companies across the globe
City officials in Berlin announced on Thursday that all swimmers at public pools will soon be allowed to swim topless
Fitness scam
Market Chaos as USDC Loses Peg to USD after $3.3 Billion Reserves Held by Silicon Valley Bank Closed.
Senator Tom Cotton: If the Mexican Government Won’t Stop Cartels from Killing Americans, Then U.S. Government Should
Banking regulators close SVB, the largest bank failure since the financial crisis
Silicon Valley Bank: Struggles Threaten Tech Startup Ecosystem"
Man’s penis amputated by mistake after he’s wrongly diagnosed with a tumour
In a major snub to Downing Street's Silicon Valley dreams, UK chip giant Arm has dealt a serious blow to the government's economic strategy by opting for a US listing
It's the question on everyone's lips: could a four-day workweek be the future of employment?
Is Gold the Ultimate Safe Haven Asset in Times of Uncertainty?
Spain officials quit over trains that were too wide for tunnels...
Corruption and Influence Buying Uncovered in International Mainstream Media: Investigation Reveals Growing Disinformation Mercenaries
Givenchy Store in New York Robbed of $50,000 in Merchandise
European MP Clare Daly condemns US attack on Nord Stream
Former U.S. President Carter will spend his remaining time at home and receive hospice care instead of medication
Tucker Carlson called Trump a 'demonic force'
Kamala Harris: "The United States has formally determined that Russia has committed crimes against humanity."
US Joins 15 NATO Nations in Largest Space Data Collection Initiative in History
White House: No ETs over the United States
U.S. Jet Shoots Down Flying Object Over Canada
Nord Stream terror attack: David Sacks breaks down Sy Hersh's story
Being a Tiktoker might be expensive…
Miracle: El Salvador Search and Rescue teams, with the support of Turkish teams, rescued a woman and a child from the rubble 150 hours after the earthquake
SpaceX, the private space exploration company, made a significant breakthrough in their mission to reach space.
China's top tech firms, including Alibaba, Tencent, Baidu, NetEase, and JD.com, are developing their own versions of Open AI's AI-powered chatbot, ChatGPT
×