A Strategy for Dismantling Structural Racism in the Juvenile Delinquency System

Total Page:16

File Type:pdf, Size:1020Kb

A Strategy for Dismantling Structural Racism in the Juvenile Delinquency System Poverty & Race PRRAC POVERTY & RACE RESEARCH ACTION COUNCIL March/April 2011 Volume 20: Number 2 A Strategy for Dismantling Structural Racism in the Juvenile Delinquency System by Edgar S. Cahn, Keri A. Nash & Cynthia Robbins Juveniles of color are more likely outcomes for youth of color have been to 2004, African Americans com- than their white counterparts to be ar- well documented for years. This ar- prised only 16% of all youth in the rested, referred to juvenile court rather ticle provides some of the national data United States, but constituted 28% of than diversion programs, waived to that underscore the extensive racial juvenile arrests; 30% of referrals to adult court, detained pre-trial and disparity that persists in the juvenile juvenile court; 37% of the detained locked up at disposition. justice system. Second, the article will population; 34% of youth formally In 2008, the Racial Justice Initia- narrow the focus to Washington, DC, processed by the juvenile court; 30% tive of TimeBanks USA (“RJI”)— where the RJI is working more inten- of adjudicated youth; 35% of youth www.RacialJusticeInitiative.org— sively in 2011 and beyond. Finally, judicially waived to adult criminal developed a new social advocacy and the article sets forth how this strategy court; 38% of youth in residential litigation strategy focused on disman- could be implemented to break placement; and 58% of youth admit- tling structural racism in the juvenile through more than three decades of ted to state adult prison. There is in- justice and child welfare systems as logjam on legal challenges to racial controvertible evidence that race bias well as other public systems that af- disparity in juvenile justice. Although affects critical decisions leading to fect vulnerable youth. Congress annually appropriates hun- confinement, and that the conse- The data on the depth of the racial dreds of millions of dollars to reduce quences of this disparate treatment are disparity and the resulting negative the racial disparity in juvenile justice, devastating to juveniles of color. more than 35 years after enactment Over the last 30 years, multiple Edgar S. Cahn (yeswecan@aol. of the seminal juvenile delinquency studies have shown that disproportion- com) is founder of Time Dollars and prevention act, results in most juris- ate minority contact (“DMC”) afflicts TimeBanks USA, co-founder of the dictions are barely discernible. nearly every processing point in nearly Racial Justice Initiative of TimeBanks every juvenile justice system in the USA, co-founder of the National Le- country. In Michael J. Leiber’s article, gal Service Program and of the National Arrest, (Please turn to page 2) Antioch School of Law, predecessor Prosecution and to the UDC David A. Clarke School Incarceration Rates of Law. Keri A. Nash ([email protected]) Reveal Substantial CONTENTS: is Associate for Legal Research & Out- Disproportionality Juvenile Justice ........ 1 reach of the Racial Justice Initiative Foreclosures & of TimeBanks USA. While young people of all races Schooling ................. 3 Cynthia Robbins (Cynthia@time commit delinquent acts, some receive Mt. Laurel .................. 9 banks.org) is co-founder & co-leader treatment while others are arrested, PRRAC Update ....... 11 funneled into the delinquency system, of the Racial Justice Initiative of Apologies/ and too often, eventually incarcerated. TimeBanks USA and former chair of Reparations ............ 12 Public Defender Service of the Dis- According to the National Council on Resources ................ 13 trict of Columbia. Crime and Delinquency, from 2002 Poverty & Race Research Action Council • 1200 18th Street NW • Suite 200 • Washington, DC 20036 202/906-8023 • FAX: 202/842-2885 • E-mail: [email protected] • www.prrac.org Recycled Paper (JUVENILE: Continued from page 1) federal juvenile delinquency preven- made up the majority, with 3,051 tion funding to measure the rate of (93%) arrests. An African-American “Disproportionate Minority Confine- DMC at nine different decision points youth is approximately 19 times as ment of Youth: An Analysis of State in the juvenile justice system: juve- likely to be arrested as a White youth and Federal Efforts to Address the nile arrests; referral to juvenile court; in the District. Issue,” he noted that 32 of 46 studies cases diverted; cases involving secure conducted by 40 states reported “race detention; cases petitioned (charges Data for Juvenile Delinquency effects”—defined as “the presence of filed); cases resulting in delinquent Involvement in Washington, DC a statistically significant race relation- findings; cases resulting in probation ship, with a case outcome that remains placement; cases resulting in confine- In addition to the juvenile arrests, once controls for legal factors have ment in secure juvenile facilities; and, there was disproportionate represen- been considered.” When African cases transferred to adult court. tation at almost every other major Americans, Latinos, Native Ameri- decision point in the juvenile justice cans, Asian and Pacific Islanders con- system. In 2007, 3,364 youths were stituted only 35% of the U.S. youth Washington, DC referred to juvenile court, with 2,624 population, they comprised 65% of all (78%) referrals for African-American youth who were securely detained pre- Washington, DC is like many cit- youth; 637 (19%) referrals for Other/ adjudication. Youth of color are four ies, a majority-minority city. How- Mixed youth, 81 (2%) referrals for times more likely to be arrested for a ever, that alone does not explain the Hispanic youth, 17 (1%) referrals for drug trafficking offense, even though White youth, and 5 (0.1%) referrals white teens’ self-reported experiences Negative outcomes for for Asian youth. The decision to di- of using and selling drugs are at rates youth of color have vert youth from the system is the only greater than that of African-American been well documented. decision point where the 582 youth teens. The length of incarceration arrested who were diverted was pro- compounds both the disparity and the portionate because the majority of injury inflicted; on average, African- depth of the racial disparity in the ju- youth diverted were youth of color. American and Latino juveniles are venile justice system. The RJI’s strat- There were 1,212 total cases in- confined, respectively, 61 and 112 egy can be implemented in any pub- volving secure detention, of which days longer than white youth. Addi- lic system in this nation, but we focus 1,173 (97%) were African-American, tionally, as noted in a previous RJI on jurisdictions where the disparity is 29 (2%) were Hispanic, and 5 (.04%) publication—“An Offer They Can’t stark and the outcomes for youth of were White. And 2,478 youth had Refuse: Racial Disparities in Juvenile color are even starker. A brief dis- cases petitioned: 1,940 (78%) were Justice and Deliberate Indifference play of some basic statistics of the dis- African-American, 458 (18%) were Meet Alternatives That Work,” “mi- proportionate rate of system engage- Other/Mixed, 63 (3%) were Hispanic, norities account for more than 58% ment for youth of color in DC pro- 12 (0.48%) were White, and, 5 of youth admitted to state adult pris- vides a snapshot of the inequities (0.2%) were Asian. Also, 616 youth ons.” manifest throughout the country. had cases that resulted in delinquent In an attempt to eliminate DMC, In 2007, the youth population in findings, with 589 (96%) African- federal law requires states that receive the District of Columbia ages 10 to American, 22 (4%) Hispanic. In ad- 17 was 49,394. It was comprised of: dition, there was 1 White and 1 Asian 38,131 (77%) African Americans, Poverty and Race (ISSN 1075- youth who each had cases that resulted 3591) is published six times a year by 9,848 (20%) Whites, and 1,415 (3%) in delinquent findings. the Poverty & Race Research Action Latinos/Hispanics. There were 3,410 At the deeper end of the spectrum Council, 1200 18th Street NW, Suite (7%) classified as Latino/Hispanic, of juvenile justice system involve- 200, Washington, DC 20036, 202/906- which overlaps with other racial cat- ment, the statistics show the same 8023, fax: 202/842-2885, E-mail: egories because Latino/Hispanic was [email protected]. Chester Hartman, story of disproportionality. In 2007, Editor. Subscriptions are $25/year, classified as ethnicity and not a race 369 cases resulted in probation in $45/two years. Foreign postage extra. according to U.S. Census Bureau sta- placement, with 349 (95%) African- Articles, article suggestions, letters and tistics. Indeed, youth of color consti- American youth, 16 (4%) Hispanic general comments are welcome, as are tute the majority, but we find an over- youth, 2 (0.54%) White youth, and 1 notices of publications, conferences, representation of youth of color at job openings, etc. for our Resources (0.27%) Asian youth. There were 247 Section. Articles generally may be re- every decision point in the delin- cases that resulted in confinement, printed, providing PRRAC gives ad- quency system, except for the most with 240 (97%) African-American, 6 vance permission. important decision at the outset: to (2%) Hispanic and 1 (0.4%) Asian. © Copyright 2011 by the Poverty avert involvement through diversion. There were no White youth sent to & Race Research Action Council. All In 2007, 3,279 juveniles were ar- rights reserved. correctional facilities. Additionally, rested, and African-American youth (Please turn to page 6) 2 • Poverty & Race • Vol. 20, No. 2 • March/April 2011 Foreclosure and Kids: When Losing Your Home Means Losing Your School by Vicki Been, Ingrid Ellen, Amy Schwartz, Leanna Stiefel & Meryle Weinstein While researchers, policymakers Center for Real Estate and Urban sure (lis pendens or “LPs”) each year and the popular media have given con- Policy and NYU’s Institute for Edu- more than doubled between 2000 and siderable attention to the causes of the cation and Social Policy examined the 2010.
Recommended publications
  • How Ayn Rand's Ideas Can End Big Government Yaron Brook, Don
    Free Market Revolution: How Ayn Rand'S Ideas Can End Big Government Yaron Brook, Don Watkins - book free by Yaron Brook, Don Watkins Free Market Revolution: How Ayn Rand's Ideas Can End Big Government, Read Free Market Revolution: How Ayn Rand's Ideas Can End Big Government Books Online Free, Free Market Revolution: How Ayn Rand's Ideas Can End Big Government Yaron Brook, Don Watkins pdf, Yaron Brook, Don Watkins epub Free Market Revolution: How Ayn Rand's Ideas Can End Big Government, read online free Free Market Revolution: How Ayn Rand's Ideas Can End Big Government, Free Market Revolution: How Ayn Rand's Ideas Can End Big Government Full Download, read online free Free Market Revolution: How Ayn Rand's Ideas Can End Big Government, Free Market Revolution: How Ayn Rand's Ideas Can End Big Government Full Collection, Read Best Book Free Market Revolution: How Ayn Rand's Ideas Can End Big Government Online, Free Market Revolution: How Ayn Rand's Ideas Can End Big Government pdf read online, Free Market Revolution: How Ayn Rand's Ideas Can End Big Government Full Download, pdf Yaron Brook, Don Watkins Free Market Revolution: How Ayn Rand's Ideas Can End Big Government, Read Online Free Market Revolution: How Ayn Rand's Ideas Can End Big Government E-Books, Read Free Market Revolution: How Ayn Rand's Ideas Can End Big Government Full Collection Yaron Brook, Don Watkins, Free Market Revolution: How Ayn Rand's Ideas Can End Big Government Download PDF, Download Free Market Revolution: How Ayn Rand's Ideas Can End Big Government PDF, Free
    [Show full text]
  • Equal Is Unfair: Americas Misguided Fight Against Income Inequality Free
    FREE EQUAL IS UNFAIR: AMERICAS MISGUIDED FIGHT AGAINST INCOME INEQUALITY PDF Don Watkins,Yaron Brook | 258 pages | 17 Oct 2016 | St Martin's Press | 9781250084446 | English | New York, United States iSách – Equal Is Unfair: America′s Misguided Fight Against Income Inequality EPUB/PDF/PRC miễn phí The real problem is not free markets but arbitrary government power. An impressive achievement. Available March 29 from St. Martin's Press, Equal Equal is Unfair: Americas Misguided Fight Against Income Inequality Unfair systematically dismantles every major claim made by the inequality alarmists, while unmasking the truth that their campaign to fight inequality is really a thinly veiled crusade designed to expand the power of government. Equal Is Unfair shows that this unprecedented power grab can only be accomplished by shackling the innovators and entrepreneurs who drive Equal is Unfair: Americas Misguided Fight Against Income Inequality progress, and throttling the ambitious poor who inequality alarmists purport to want to help most. Not only does this ideology produce economic devastation, but as Watkins and Brook argue, it is unfairunjust, and immoral. As Equal is Unfair: Americas Misguided Fight Against Income Inequality and Brook write, "Our future will be determined by whether we recommit ourselves to the ideal of opportunity -- or whether we abandon that ideal in the name of waging war on economic inequality. A fellow at the Ayn Rand Institute and a former Forbes. He is the host of the podcast The Debt Dialogues. For more information on Objectivism's unique point of view, go to ARI's website. Tesla reported third-quarter earnings results after market close on Wednesday.
    [Show full text]
  • More Than $370,000 Raised at Chicago Fundraising Dinner, Continued from Page 1
    aynrand.org/impact Volume 18, Number 6, June 2012 Yaron Brook Speaks to a More Than $370,000 Raised at Chicago Wide Array of Audiences Fundraising Dinner RI executive director A Yaron Brook has traveled n May 3 ARI held its first fundraising dinner in frequently this spring all O Chicago, titled Atlas Shrugged Revolution, at Auctioned items at the Chicago over the world. He partici- the Waldorf Astoria Chicago. The event raised more fundraising dinner included: pated in debates, lectured on than $370,000 for ARI and was attended by more college campuses, sat on than a hundred people. • A first edition copy of The Fountainhead panels and much more, dis- “We are overwhelmed by the response we • A limited-edition tenth anniversary copy of cussing topics ranging from received in Chicago,” commented Yaron Brook, Atlas Shrugged capitalism and economic his- ARI’s executive director. “For the first dinner • An original clipping from the New York tory to war and taxes. we’ve held in the Chicago area, the amount raised Times of the paperback best-seller list from Throughout his travels, Dr. Brook commu- and the enthusiasm of everyone in attendance was April 7, 1963, showing Atlas Shrugged in nicated Ayn Rand’s ideas and their application more than expected and deeply appreciated.” ninth place, annotated by Ayn Rand to current issues to thousands of people, ranging The evening’s speakers included businessmen, • A set of four difficult-to-find foreign from college students and academic scholars members of the media, educators and students. editions of Atlas Shrugged to business leaders and congressional staffers.
    [Show full text]
  • Ayn Rand Through a Biblical Lens by David S
    CHECK YOUR PREMISES: AYN RAND THROUGH A BIBLICAL LENS BY DAVID S. KOTTER. Foreword by Art Lindsley, Ph.D. Atlas Shrugged by Ayn Rand has been ranked as second only to the Bible as one of the most influential books in the lives of modern readers, and more than 30 million copies of her books have been sold. Nearly a million dollars in cash prizes have been awarded in essay contests encouraging high school and college students to read Rand’s novels, and increasingly universities are making her books required reading. Aside from Rand’s success, why would the Institute for Faith, Work & Economics (IFWE) show interest in reviewing the thoughts behind her works, given that she was a virulent atheist, despised Christianity along with the Bible, condemned any form of altruism, exalted selfishness, and used the dollar bill as her symbol? First, even if you have no intention of reading Rand – and her works are certainly not for everyone – it is at least worth knowing what she believed and how her beliefs compare and contrast with the Bible. Second, any work that appeals to so many people likely contains some truths worth investigating. For example, I have learned specific truths through reading atheist, New Age, and neo-pagan works, even though I reject their overarching worldview. We at IFWE believe in common grace, which means that every favor of whatever kind that this undeserving world enjoys originates from the hand of God. While it is true that unbelievers eventually twist truth, they nonetheless have some truth to twist. In other words, non-believers have both honey – created truth – and hemlock – truth twisted by the Fall.
    [Show full text]
  • Highlights of the Past Year
    aynrand.org/impact Volume 17, Number 12, December 2011 Highlights of the Past Year RI’s mission is to foster a growing awareness, paign this fall, we received more orders for free A understanding and acceptance of Ayn Rand’s books in the first month of this academic year revolutionary philosophy of Objectivism, in order than in the same period over the last few years. to create a culture whose guiding principles are As a result, ARI projects it will be out of reason, rational self-interest and laissez-faire books for distribution by the end of this month. If capitalism—a culture in which individuals are free you would like to contribute to the Free Books to to pursue their own happiness. All of ARI’s activi- Teachers program so more high school students ties are geared towards achieving this end. are exposed to Ayn Rand’s ideas in the class- OAC instructor Keith Lockitch (at right) discussing environmentalism with Our efforts are focused on impacting three main room, please visit aynrand.org/freebooks to learn this year’s interns areas in the culture, those targets that, if impacted more about the program and how you can make a internship program for college students new to effectively, will most directly and widely change difference. Rand’s ideas but who are planning to pursue intel- the culture as a whole. These areas of focus are the Another effort to educate young people about lectual careers at its offices in Irvine, California. education system, which includes students and aca- Ayn Rand’s ideas includes ARI’s annual essay This year’s class, our largest yet, consisted of nine- demics; public policy, which includes think tanks, contests, most of which are held exclusively for teen students eager to learn about Rand’s scholar- politicians and activists; and business, the field that high school and college students.
    [Show full text]
  • Free Market Revolution: How Ayn Rand’S Ideas Can End Big Government
    FOR IMMEDIATE RELEASE Publication Date: September 18, 2012 Margaret Kingsbury (512) 904-9255 or [email protected] Barbara Cave Henricks (512) 301-8936 or [email protected] FREE MARKET REVOLUTION: HOW AYN RAND’S IDEAS CAN END BIG GOVERNMENT By Yaron Brook and Don Watkins “Free Market Revolution will raise the ire of every statist, socialist and crony capitalist. Rand understood—as do the authors of this all-too-timely book—that free markets are, indeed, moral while Big Government is manifestly not.” – Steve Forbes, Editor-in-Chief, Forbes Ayn Rand is more popular than ever, especially among the influential Tea Party movement. If her ideas take hold, they would transform our political-economic landscape. Will they? Should they? What would an Ayn Rand America look like? Could the U.S. be headed for a Free Market Revolution? As November approaches, one thing has become clear: “capitalism” will be the buzz word and hot topic of the 2012 election campaign. Each day brings another article by journalists pitting Barack Obama’s and Mitt Romney’s views on free markets against one another. When it comes to America’s future, do we need less capitalism—or more? This debate is not new, and in fact, it’s been brewing for more than four years. In late 2008, as the economy experienced a devastating financial crisis, followed by an avalanche of government intervention, sales of Atlas Shrugged skyrocketed. By the end of that year alone, Ayn Rand’s classic novel would sell more than 200,000 copies and go on to reach half a million in 2009.
    [Show full text]
  • Iv. Access to the Courts and Recent Supreme Court Decisions
    JOURNAL of LAW & PUBLIC AFFAIRS Vol. 2, No. 1 June 2017 JOURNAL of LAW & PUBLIC AFFAIRS Vol. 2 June 2017 No. 1 ARTICLES ACHIEVING ANTIDISCRIMINATION OBJECTIVES THROUGH “SAFE HARBOR” RULES FOR CASES OF CHRONIC HIRING AVERSION Samuel Estreicher ..........................................................................................................................................1 CLASS ACTION REFORM: CLOSING THE COURTHOUSE DOORS ON VICTIMS, ONE LAWSUIT AT A TIME Henry C. “Hank” Johnson ...........................................................................................................................13 BEYOND THE PERSONAL BENEFIT TEST: THE ECONOMICS OF TIPPING BY INSIDERS Jonathan R. Macey .......................................................................................................................................27 CONSTITUTIONAL EQUALITY AND THE ROLE OF THE GOVERNMENT Kermit Roosevelt III .....................................................................................................................................75 HOW THE CAMPAIGN AGAINST INEQUALITY UNDERMINES POLITICAL EQUALITY Don Watkins & Yaron Brook .......................................................................................................................99 THE HIDDEN STRUCTURES OF INEQUALITY: THE FEDERAL RESERVE AND A CASCADE OF FAILURES Emma Jordan .............................................................................................................................................116 OPEN FOR BUSINESS: ILLINOIS COURTS AND PARTY POLITICS
    [Show full text]
  • A Conversation with Yaron Brook and Elan Journo
    A Conversation with Yaron Brook and Elan Journo How should the U.S. respond to the events that have gripped the Middle East over the past year? This question has been debated countless times by the media, academics, and politicians alike. Will the toppling of authoritarian regimes unleash a wave of democracy and individual freedoms across the region? Or will the power vacuums created allow darker forces to come to the fore? For a unique answer to these questions, the Whitehead Journal looked to Dr. Yaron Brook and Elan Journo, both of the Ayn Rand Institute (ARI) in Irvine, California. Founded to promote the philosophy of twentieth-century novelist Ayn Rand—Objectivism—ARI advocates for the principles of reason, rational self-interest, individual rights, and laissez-faire capitalism. In the 2009 book Winning the Unwinnable War , both of these scholars argue for a revised U.S. foreign policy—one based on the principles that Ayn Rand stood for. To examine just what a foreign policy based on Objectivism would mean for the U.S., the Whitehead Journal’s Christopher Bartolotta and Jordan McGillis spoke with Dr. Yaron Brook and Elan Journo on the Arab Spring, American interests, Iran, China, and much more. Whitehead Journal : The uprisings in the Middle East have received a lot of attention over the past year. Do you view these movements as a positive development for the United States and its interests in the region? How do you approach this situation? Elan Journo : When talking about U.S. interests, in the Middle East or anywhere else, we take a distinctive approach.
    [Show full text]
  • Ayn Rand Rewrote the Story of Capitalism to Show That It Is a Necessary Good
    blogs.lse.ac.uk http://blogs.lse.ac.uk/usappblog/2013/10/28/ayn-rand-rewrote-the-story-of-capitalism/ Ayn Rand rewrote the story of capitalism to show that it is a necessary good The 2008 financial crisis gave rise to sustained criticism of capitalism as an economic system, with many of its advocates conceding that while an immoral system, it is also a ‘necessary evil’. Reflecting on the writings of Ayn Rand, Yaron Brook and Don Watkins reject this view, and instead argue that capitalism is a necessary good. They maintain that capitalism is the only social system that takes into account people’s rationality, enabling them to survive and prosper through self-interest. Ayn Rand has been one of the greatest salesmen of capitalism in history, with total sales of her books approaching 30 million copies. What makes her so powerful? To put it simply: she knows how to tell the story of capitalism. Since capitalism arose during the nineteenth century, its critics have weaved a compelling story shaping the way we think about free enterprise. Capitalism, according to this story, is inherently immoral because the needy many receive no help from society, while the greedy few are allowed to exploit society. Well, if so then the solution is obvious: to limit and ideally eliminate capitalism. You can see that story at work today. The financial crisis, we’re told, was the product of greedy bankers profiting at the expense of society. The solution? Regulate the greedy profit-seekers and redistribute their ill-gotten gains to those in need.
    [Show full text]
  • What Good Is Religious Freedom? Locke, Rand, and the Non-Religious Case for Respecting It Tara Smith
    Arkansas Law Review Volume 69 | Number 4 Article 3 January 2017 What Good Is Religious Freedom? Locke, Rand, and the Non-Religious Case for Respecting It Tara Smith Follow this and additional works at: http://scholarworks.uark.edu/alr Part of the Religion Law Commons Recommended Citation Tara Smith, What Good Is Religious Freedom? Locke, Rand, and the Non-Religious Case for Respecting It, 69 Ark. L. Rev. 943 (2017). Available at: http://scholarworks.uark.edu/alr/vol69/iss4/3 This Article is brought to you for free and open access by ScholarWorks@UARK. It has been accepted for inclusion in Arkansas Law Review by an authorized editor of ScholarWorks@UARK. For more information, please contact [email protected], [email protected]. What Good Is Religious Freedom? Locke, Rand, and the Non-Religious Case for Respecting It Tara Smith∗ “If there is any fixed star in our constitutional constellation, it is that no official, high or petty, can prescribe what shall be orthodox in politics, nationalism, religion, or other matters of opinion or force citizens to confess by word or act their faith therein.” Justice Robert Jackson1 I. INTRODUCTION Religious freedom is in the limelight. In recent years, religiously inspired violence has slaughtered thousands around the world and provoked calls for the repression of adherents of various faiths.2 Domestically, we have shrill debates: Should bakers be compelled to serve at gay weddings when they have religious objections to doing so?3 Should government officials be compelled to facilitate gay marriages when they have religious ∗ I am grateful to Onkar Ghate, Steve Simpson, Greg Salmieri, Robert Mayhew, and Kevin Douglas for helpful discussion as I formulated many of the ideas addressed in the paper, and to my Research Assistants Sam Krauss, Simone Gubler, and Zach Blaesi.
    [Show full text]
  • View That Dr
    Yaron Brook Chairman of the Board, Ayn Rand Institute, Host of The Yaron Brook Show Podcast and Co-Author of Free Market Revolution & Equal is Unfair Yaron Brook, host of the Yaron Brook Show, is a renowned and entertaining lecturer on Capitalism, Political and Economic Freedom, Free Speech, and the philosophy and history of Ayn Rand. Brook has served as a keynote speaker, debater, panelist and lecturer for Congressional Staffers, Governor Business Forums, YPOs, The Mont Pelerin Society, as well as a long list of prestigious universities, colleges, and high schools in the U.S. and around the world. Born and raised in Israel, Dr. Brook served as a First Sergeant in the Israeli military intelligence and earned a BSc in civil engineering from Technion-Israel Institute of Technology in Haifa. In 1987, he moved with his wife to the United States where he received his MBA and PhD in finance from the University of Texas at Austin. He went on to become an award-winning finance professor at Santa Clara University, and in 1998 he co-founded BH Equity Research, a private equity and hedge fund of which he is the Founder and Director. In addition to podcasting and speaking globally, Dr. Brook authors works that inspire critical thinking. His most recent book, In Pursuit of Wealth: The Moral Case for Finance, makes the case that few industries are more vital to our prosperity – and more maligned – than the financial industry. Brook and co-author Don Watkins explain why finance has faced so much criticism, and why, despite the conventional image of financiers as “greedy” and reckless, finance is a moral industry.
    [Show full text]
  • Capitalism: Why So Unpopular?
    Capitalism: Why So Unpopular? Segment Length: 5:45 minutes Lesson Description: News reports, articles, and websites tell us of the waning belief in capitalism. What do you think about capitalism? Is capitalism evil? Or has it lifted billions of people out of poverty? This segment looks at capitalism. Concepts and Key Terms: Capitalism—An economic system in which the provision of products and services is generally arranged by buyers and sellers without interference by government. Capitalism is often used interchangeably with the terms “free enterprise,” “free market,” and “laissez-faire.” Entrepreneur—A person who entails risk to start a business or venture in an attempt to gain financially. Objectives: Students will be able to: • explain various views of capitalism. • compare and contrast capitalism as a synonym for free markets and the economic system in our country today. • weigh the effects of capitalism and communism. Preview Activity and Questions: Have students answer the following question in their notebooks: When you think of capitalism, what words come to mind? Use Think, Pair, Share to have students answer the preview question. Ask them to look for similarities and differences in their answers and have them rate their answers as either “positive” or “negative.” After a few minutes, poll the students and ask them to explain their answers. Are there more positive or negative? Why? OR Have students answer the following question in their notebooks: Why is America so rich in contrast to most of the world? Use Think, Pair, Share to have students answer the preview question. Ask them to look for similarities and differences in their answers.
    [Show full text]