In the throes of contemporary challenges from the lingering scars of systemic racism to the widening racial wealth chasm, the United States finds itself at a pivotal crossroads. Four years after the murder of George Floyd launched global protests in support of the Movement for Black Lives, we are in a moment that calls for a national policy platform that not only addresses the historical injustices faced by Black and Indigenous communities but also casts a wider net of economic reform through policies like baby bonds, guaranteed income, and universal healthcare.
This comprehensive approach acknowledges the intertwined nature of racial justice and economic inequity, asserting that the path to a more equitable society requires addressing both specific injustices and the broader economic structures that underpin inequality.
The original New Deal, while transformative in its time, left deep fissures of inequality, particularly along racial lines. It is now time for a “New New Deal” that rectifies these historical oversights by placing reparations for Black and Indigenous people at its heart. Such reparations are not merely a matter of justice; they are a step toward acknowledging and rectifying the centuries of exploitation, displacement, and marginalization that have systematically obstructed these communities from accessing the wealth and opportunities that they have significantly contributed to creating.
However, reparations will not solve the stark economic inequality that exists throughout our society, regardless of race or ethnicity. Reparations must be a part of a broader and comprehensive economic agenda that seeks to dismantle the systemic barriers that all working-class people face. This is where universal policies like baby bonds, which would provide every newborn with a savings account that matures with them, guaranteed income, and universal health care come into play.
These policies are designed not only to address the symptoms of economic disparity, but also to attack its root causes, ensuring that everyone, regardless of their race or socio-economic status, has access to the opportunities and resources necessary for a dignified life. Too often are reparative and universal policies pitted against each other, but a New New Deal would assert that these types of policies can coincide and exist beside each other.
Integrating the movement for Black liberation and Indigenous sovereignty into a broader economic agenda is not just strategic—it’s essential for achieving the type of systemic change that we desire. It recognizes that while the specific histories and injustices faced by Black and Indigenous communities require targeted redress, the mechanisms of economic inequality and systemic racism are interconnected and mutually reinforcing. By placing these movements in a broader framework of economic reform, we can create a more inclusive and equitable vision of justice—one that addresses both the particular injustices that stem from colonialism and slavery and the universal challenges of economic inequality.
Although critics may argue that such sweeping reforms are utopian, impractical, or too ambitious, the current moment, with democracy hanging in the balance, demands bold action. Just as the original New Deal responded to the Great Depression with innovative policies that reshaped the country’s cultural and economic landscape, so must the New New Deal rise to the challenge and confront our system of racial capitalism.
Truly understanding the imperatives driving the “New New Deal” requires grappling with the concept of racial capitalism—the process by which economic systems are predicated on the exploitation of communities of color. This framework shows how wealth and power have historically been accumulated in the United States, often at the direct expense of Black, Indigenous, and other marginalized communities.
Racial capitalism not only underpins the vast economic disparities we see today but also entrenches systemic racism within the fabric of our society. A New New Deal would confront this head-on by dismantling the economic structures that perpetuate racial inequality. Institutional reparations and universal economic policies would be a means of redistributing power and wealth. This approach is not merely about economic reform; it would be a fundamental challenge to the racialized underpinnings of capitalism that have long supported those who have access to ownership, opportunity, and resources.
Such a package of transformative policies would rely on a renewed, broad-based, multiracial movement for liberation and decolonization. The movement would have to unite individuals across racial, ethnic, and socioeconomic lines around a shared vision for a just society. This would entail fostering solidarity in principle and action by actively engaging in dialogues that bridge historical divides, and organizing collectively to demand change. Through this collective action and solidarity, the vision of the New New Deal can be realized and help transform the landscape of American society.
While the vision for a New New Deal is ambitious, it is within this ambition that its potential lies. Confronting racial capitalism head-on and building a multi-racial inclusive movement for transformation are not just strategies; they are imperatives for those seeking a more equitable and just future. As we look toward this horizon, let us be guided by the lessons of the past and the possibilities of the future, united in our pursuit of a society that truly embodies the principles of liberation.
Trevor Smith is the co-founder and executive director of the BLIS Collective, an organization dedicated to strengthening movement and narrative infrastructure across Black, Indigenous, and progressive social movements to repair, decolonize, and transform cultures.