Editor’s note: The following article is an op-ed, and the views expressed are the author’s own. Read more opinions on theGrio.
From Dec. 26 to Jan. 1, many Black families across the United States will celebrate Kwanzaa, which means “first fruits” in Swahili or the agricultural harvest festivals that are found throughout Africa. Growing up, my family didn’t celebrate Kwanzaa or many holidays for that matter. But over time, and especially in the last few years through my work with Black-led nonprofits, foundations and advocacy organizations, I have come to understand Kwanzaa’s importance as a way to recognize the strength of Black communities despite systemic pressures meant to break us.
Stemming from the Black Power Movement and founded in 1966 by educator and activist Maulana Karenga, Kwanzaa is a time to honor Black people and celebrate our contributions, heritage and culture, while acknowledging our shared struggles and our unwavering efforts to overcome them. The holiday encourages people to honor seven principles: unity, self-determination, collective work and responsibility, cooperative economics, purpose, creativity and faith.
Nearly 60 years since its creation the meaning and importance of Kwanzaa continue to resonate. Despite achieving significant progress, Black communities continue to combat systems of oppression, institutional racism, and systemic inequities. These inequities may be most apparent in the racial wealth gap.
As a result of centuries of systemic oppression in housing, our education systems and labor force, and insufficient access to capital and other business opportunities, Black people have faced significant barriers to building wealth. In 2022, the typical white family had about six times as much wealth as the typical Black family. This is not just a problem for Black communities but the entire economy. Over the last 20 years, the racial wealth gap has cost the U.S. economy about $16 trillion.
Yet,…
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