Discussion of Racial Capitalism Issue on Modern Society

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Introduction

The acquisition of benefits represented by resources intended for improving the wellbeing of the world population is complicated by its uneven distribution among different categories of citizens. This phenomenon led to the emergence of the concept of racial capitalism, which implies the adverse impact of social separateness based on one’s race in the matter (Melamed, 2015). Indeed, equality in accessing opportunities determined by the shared use of land and the results of human labor is not to be achieved when neglecting this factor, explaining the attention of scholars to the problem. In order to fully grasp the meaning of racial capitalism in the context of present-day societies, it is critical to examine it with regard to practical examples and contemporary movements.

Definition of Racial Capitalism

The notion under consideration is frequently erroneously perceived as an intentional violation of the affected persons’ rights, whereas its definition clarifies the predominant role of labor exploitation. According to Bhattacharyya (2018), racial capitalism is the interconnection between the risks of the specified practice with the existing societal disparities among representatives of various races. From this standpoint, it can be defined as the accumulation of capital negatively influencing individuals who do not have access to the results of this process based on their background due to the previously developed racialization (Melamed, 2015; Bhattacharyya, 2018). In other words, this term implies the economic domination of white citizens over the people of color in the distribution of benefits since the latter is more likely to suffer from exploitation of this kind.

Historical Development of Racial Capitalism

The historical link between the emergence of capitalism and its racial underpinning mentioned in the previous section is also thoroughly examined by scholars. As follows from the works of Cedric J. Robinson (2020, p. 9), “the organization of production and exchange” was an event exacerbating the racist and nationalist sentiments. The combination of these occasions in which racism preceded the formation of capitalistic relationships highlights the role of history in the process. The resulting opposition of economic forces and the considerations of race creating a gap in the wealth of citizens created a uniform system which included the previously developed disparities. Therefore, it should be viewed as a controversial debate on the need for balancing the aspects of the new system with respect for the patterns of interactions emerging from the beginning of the Americas’ colonizations.

The Link Between Racial Capitalism and Marxism

One of the essential ideologies supporting racial capitalism in its present form is Marxism, and it is referred to as the grounds for its hierarchical structure. Virdee (2019) writes that class struggles as the basis of this theoretical approach to the problem are similar to racism in the United States. It means that the ongoing differentiation of people in capitalistic pursuits is a rigid link between the factors allowing to distinguish citizens and the desired distribution of goods as per Marxism (Virdee, 2019). This stance contributes to the idea of the significance of political processes in the worsening of the situation for individuals who are likely to be exploited by the system. In other words, the examination of the specified connection between the theoretical notions and their practical implementation in the context of racism undergoes the influence of Marxism.

The Mechanism of Action

The mechanism of action of racial capitalism can be revealed through the consideration of the conditions for its existence. First, the acquisition of capital by adopting violent methods for this purpose contradicts the principles of social provision regardless of personal characteristics discussed by Melamed (2015). Second, the democratic ideology supporting equality of all citizens does not correlate with the market economies aimed at the monopolization performed by particular social groups (Melamed, 2015). Third, the lack of rationalization as applied to relations within communities adds to the challenge of guaranteeing equality (Melamed, 2015). Taking into account these circumstances, it can be claimed that racial capitalism is an outcome of applying inappropriate methods for economic gains while neglecting the need to justify the differences between attitudes towards various populations.

Morality vs. Politics

The challenge of balancing between racial considerations and disparities in terms of financial affairs can be viewed through the lens of the underlying morality and political processes. According to Robinson (2019), the former seems purely relational as it is not respected in the context of the economy. Meanwhile, politics serve as the only approach for establishing justice which is flawed due to the fact that state agents are not concerned with societal movements and people’s actual needs (Robinson, 2019). This situation creates a problem for the affected person as race is not a factor included in the consideration when political initiatives are developed. Hence, racial capitalism fully reflects the issue of the prevalence of authority over moral guidance in matters when the truth is supposed to be established.

Difficulty of Interpretation

The interpretation of the problem in the absence of balance between capitalistic goals and citizens’ attitudes is complicated by the ambiguity of notions which scholars use for analyzing the trends. Thus, as follows from the article written by Ralph and Singhal (2019), it is unclear what terms, such as race or capitalism, mean in reality. The biased attitudes towards people of color are more complex than it seems, and historical reasons are insufficient for explaining the current dynamics. In addition, the phenomena of the past, including slavery, do not provide comprehensive information regarding the causes of the existing problems from an economic standpoint (Ralph and Singhal, 2019). Since property and societal status are more suitable for this purpose, the scarcity of data does not help interpret the current tendencies efficiently.

The Effects of Crises

The situation with racial capitalism is especially critical when crises of various nature occur. For instance, the ongoing pandemic serves as one of the conditions worsening the economic situation for adversely affected citizens as per this phenomenon. Pirtle (2020) claims that the increasing gap between the people of color and their white counterparts during this time is reflected in the greater numbers of Black deaths. The reason for this event is in the initially poor health conditions of the former, residential segregation, and complicated access to vital resources (Pirtle, 2020). When accompanied by the already existing bias and its consequences, the new threat exacerbates the problem while adding ambiguity to this complex concept.

Conclusion

To summarize, racial capitalism as a phenomenon determining the wellbeing of people of color has its roots in historical events while being a threat to them from an economic perspective. It is underpinned by Marxism, implying the strict hierarchy within society for ensuring the proper functioning of corresponding systems. The previously used violent methods in the context of biased attitudes were accompanied by the lack of clarity of studies. More particularly, the situation becomes more alarming during crises, such as the pandemic, and the disparities are more significant due to the worsening of existing issues. Thus, the examined concept is still to be analyzed by scholars for elaborating practical guidelines to address the needs of the affected populations.

Questions

How did the concept of racial capitalism emerge in the United States?
What influence does racial capitalism have on the gap in the access to essential societal benefits by different populations?
How can the concept of racial capitalism be used by researchers for improving the economic wellbeing of people of color?

Reference List

Bhattacharyya, G. (2018) Rethinking racial capitalism: Questions of reproduction and survival. Edited by Jaafar Aksikas. London: Rowman & Littlefield International.

Melamed, J. (2015) ‘Racial capitalism’, Critical Ethnic Studies, 1(1), pp. 76-85.

Pirtle, W.N.L. (2020) ‘Racial capitalism: A fundamental cause of novel coronavirus (COVID-19) pandemic inequities in the United States. Health Education & Behavior, 47(4), pp. 504-508.

Ralph, M. and Singhal, M. (2019) ‘Racial capitalism’, Theory and Society, 48(6), pp. 851-881.

Robinson, C. J. (2019) On racial capitalism, black internationalism, and cultures of resistance. Edited by H. L. T. Quan. London: Pluto Press.

Robinson, C. J. (2020) Black Marxism. Chapel Hill: The University of North Carolina Press.

Virdee, S. (2019) ‘Racialized capitalism: An account of its contested origins and consolidation’, The Sociological Review, 67(1), pp. 3-27.

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