Economics/Class Relations

Corporate America’s $50 billion promise

Washington Post

After the murder of George Floyd ignited nationwide protests, corporate America acknowledged it could no longer stay silent and promised to take an active role in confronting systemic racism.

From Silicon Valley to Wall Street, companies proclaimed “Black lives matter.” JPMorgan Chase CEO Jamie Dimon adopted the posture of former NFL quarterback Colin Kaepernick’s protests against police brutality and took a knee with bank employees. McDonald’s declared Floyd and other slain Black Americans “one of us.”

Now, more than a year after America’s leading businesses assured employees and consumers they would rise to the moment, a Washington Post analysis of unprecedented corporate commitments toward racial justice causes reveals the limits of their power to remedy structural problems.

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