How Black prosperity was been built up and torn down in Tulsa

Summary

Summary of "How Black Prosperity Was Built Up and Torn Down in Tulsa"

Podcast: Marketplace Morning Report
Host: Marketplace (Mitchell Hartman)
Release Date: May 19, 2025

In this compelling episode, Marketplace's Mitchell Hartman delves into the complex history of Black economic prosperity in Tulsa, Oklahoma, exploring how it was meticulously built and subsequently dismantled over the course of a century. This first installment of a three-part series sheds light on the enduring impact of racial violence and systemic discrimination on the Black community's wealth accumulation.

Introduction: Spotlight on the Racial Wealth Gap

Following the tragic killing of George Floyd in May 2020 and the surge of Black Lives Matter protests, national attention has intensified on America's racial wealth gap. Currently, the median Black household possesses only 15% of the wealth held by the median white household. This episode uses Tulsa's Greenwood district as a poignant case study to illustrate the historical and ongoing challenges faced by Black Americans in building and maintaining economic prosperity.

Greenwood: America’s Black Wall Street

Mitchell Hartman takes listeners to Tulsa's historic Greenwood neighborhood, once renowned as "America’s Black Wall Street." Today, the area features a sparse collection of shops, empty storefronts, a history museum, and vacant land, starkly contrasting its vibrant past.

Don Thompson [05:16]: "Shoeshine parlor was right here at this corner, Blackard Hall where the parking lot is located, Barbershop..."

Local photojournalist Don Thompson provides a vivid tour of Greenwood, highlighting remnants of its illustrious past. In the early 1900s, Greenwood thrived as a hub of Black entrepreneurship, boasting over 600 businesses, including stores, workshops, hotels, theaters, law offices, and medical practices. The neighborhood flourished, buoyed by Oklahoma's oil boom, and served as a beacon of economic independence and community strength for Black Americans.

The Tulsa Race Massacre: Destruction of Prosperity

The prosperity of Greenwood was violently disrupted in 1921 during the Tulsa Race Massacre. An armed white mob, with support from city and state officials, invaded the neighborhood, looting, burning businesses, and killing hundreds of Black residents. The destruction encompassed 40 blocks, leaving approximately 11,000 people homeless and causing millions in damages—losses that were never adequately repaired or compensated.

Don Thompson [05:25]: "A 40 block area destroyed 11,000 people, made homeless Millions of dollars in destruction that was never repaired, never repaid until..."

Carlos Hill, an African American history professor at the University of Oklahoma, emphasizes the massacre's profound and lasting impact on Black economic mobility and community stability.

Carlos Hill [06:03]: "Greenwood was a promised land where Black people can build business, own property, can actually exist in American society in an economically advantageous position."

Lingering Effects: A Century Later

Today, Greenwood stands as a shadow of its former self. The legacy of the massacre, combined with discriminatory practices like redlining and housing segregation by banks and insurance companies, has severely hindered Black homeownership and wealth accumulation. Current statistics reveal that only half as many Black Tulans own homes compared to white residents. Additionally, Black unemployment and poverty rates remain significantly higher, and life expectancy for Black individuals in Tulsa is five years lower than for their white counterparts.

Mitchell Hartman [06:32]: "But that prosperity and the intergenerational wealth it could have built are gone. There are a number of reasons."

The Push for Reparations and Community Rebuilding

Descendants of massacre survivors, such as Christy Williams, advocate for economic reparations as essential to bridging the wealth gap. Williams and other community leaders are lobbying for millions in public funds to support housing and community development projects.

Christy Williams [07:09]: "Today we do need economic reparations. That's the only way we're going to close the gap. People will say, well, what is reparations? Reparations is cash. Reparation is land."

Williams emphasizes the tangible needs of the community, stating:

Christy Williams [07:22]: "We requested $25 million for housing for descendants. What we need is rooftops will help us get grocery stores back and other things that we need to have a viable community."

The housing reparations proposal was introduced to the Tulsa City Council last year, aiming to provide direct financial assistance and infrastructural support to Black residents affected by the historical injustices.

Challenges and Opposition

Despite the clear need, the reparations initiative faces substantial obstacles. Critics argue that using taxpayer money to compensate descendants of massacre victims is unjust to current Tulsa residents who were not directly involved in the historical events.

Mitchell Hartman [07:41]: "At town meetings, some critics said that using taxpayer money to compensate descendants isn't fair to today's Tulsa residents who had nothing to do with the massacre 100 years ago."

Legal challenges also loom large. Previous attempts to secure compensation for survivors were dismissed by the Oklahoma Supreme Court, and similar fates are anticipated for local compensation plans, especially given opposition from a Republican-controlled state legislature.

Conclusion: The Path Forward

Mitchell Hartman concludes by highlighting the ongoing struggle to restore Black economic prosperity in Tulsa amidst historical trauma and systemic barriers. The episode underscores the critical need for comprehensive reparative measures to address the entrenched racial wealth gap and to honor the legacy of Tulsa's once-thriving Black community.

As Tulsa grapples with its past, the efforts to rebuild Greenwood serve as a microcosm of the broader fight for racial and economic justice in America. This episode sets the stage for the subsequent installments, which will continue to explore the multifaceted challenges and initiatives aimed at healing and empowering the Black community in Tulsa.

Key Takeaways

• Historical Prosperity: Greenwood was a vibrant Black economic hub in the early 1900s, symbolizing Black success and independence.
• Destruction Through Violence: The 1921 Tulsa Race Massacre decimated Greenwood, with lasting impacts on wealth accumulation and community structure.
• Persistent Inequality: Today, systemic barriers like redlining and housing segregation continue to hinder Black economic progress in Tulsa.
• Reparations Advocacy: Community leaders are actively seeking economic reparations to address historical injustices and rebuild the community.
• Significant Challenges: Legal obstacles and political opposition pose significant hurdles to achieving reparative justice for Tulsa’s Black residents.

Notable Quotes

• Don Thompson [05:16]: "Shoeshine parlor was right here at this corner, Blackard Hall where the parking lot is located, Barbershop..."
• Don Thompson [05:25]: "A 40 block area destroyed 11,000 people, made homeless Millions of dollars in destruction that was never repaired, never repaid until..."
• Carlos Hill [06:03]: "Greenwood was a promised land where Black people can build business, own property, can actually exist in American society in an economically advantageous position."
• Christy Williams [07:09]: "Today we do need economic reparations. That's the only way we're going to close the gap. People will say, well, what is reparations? Reparations is cash. Reparation is land."
• Mitchell Hartman [07:41]: "At town meetings, some critics said that using taxpayer money to compensate descendants isn't fair to today's Tulsa residents who had nothing to do with the massacre 100 years ago."

Conclusion

"How Black Prosperity Was Built Up and Torn Down in Tulsa" provides a profound exploration of the interplay between historical events and contemporary economic disparities. Through personal narratives and expert insights, the episode illuminates the enduring legacy of the Tulsa Race Massacre and the ongoing efforts to achieve economic justice and community restoration in Greenwood. This detailed examination serves as a crucial reminder of the importance of addressing historical injustices to pave the way for a more equitable future.

Transcript

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[Nova Safo]

The nation's credit rating takes another hit for Marketplace. I'm Nova Safo in for David Brancaccio. There are three big credit rating agencies on Wall Street. Moody's just became the last to downgrade its top notch rating of U.S. sovereign debt. It's a small change, big implications. Marketplace's Nancy Marshall Genzer is here with more. Good morning, Nancy.

[Nancy Marshall Genzer]

Good morning.

[Nova Safo]

So why did Moody's downgrade the nation's credit rating?

[Nancy Marshall Genzer]

Yeah, Moody's downgraded the US one notch on its 21 notch rating scale. And in a statement, here's how Moody's explained it. It said it's excessive. U.S. administrations and Congress have failed to agree on measures to reverse the trend of big deficits. And Moody's says if the 2017 tax cuts are extended, that'll add around $4 trillion to the deficit. Congressional Republicans are currently working on a bill that would continue those tax cuts.

[Nova Safo]

All right, so Nancy, this is not the first time the nation's credit rating is downgraded. It's not the second time. It is.

[Nancy Marshall Genzer]

It is the third time, Nova. The first time was in 2011 when Standard & Poor's downgraded the U.S. during a congressional standoff over the debt ceiling. Fitch did the same thing in 2023 after yet another long fight in over the debt limit. And that almost led the US to default on its debt.

[Nova Safo]

This is about debt and spending. What does it mean for US Borrowing costs and for consumers going forward?

[Nancy Marshall Genzer]

Well, if you have a lower credit rating, it means you're in theory, a bigger risk. That means investors demand a higher interest rate. And that is already happening with U.S. treasury bonds and things like mortgage rates and car loans are loosely tied to the 10 year treasury bond. So when the US government has to pay more to borrow the so do we.

[Nova Safo]

All right, Nancy, thank you very much.

[Nancy Marshall Genzer]

You're welcome.

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[Nova Safo]

In the aftermath of the killing of George Floyd in May 2020 and Black Lives Matter protests which followed public attention turned to the prec racial wealth gap in America, the median black household still has only 15% as much wealth as the median white household. Today, in the first of a three part series, Marketplace's Mitchell Hartman takes us to Tulsa, Oklahoma to see how black prosperity has been built up and torn down over a century of racial violence and discrimination.

[Mitchell Hartman]

Today, Tulsa's historic black neighborhood known as Greenwood has a small cluster of shops and empty storefronts, a history museum, some vacant land and parking lots. It's sandwiched between railroad tracks and a freeway overpass, a far cry from 100 years ago when Greenwood was known as America's Black Wall Street. Don Thompson, a local photojournalist, showed me around.

[Don Thompson]

Shoeshine parlor was right here at this corner, Billard hall where the parking lot is located, Barbershop, Thompson says.

[Mitchell Hartman]

In the early 1900s, boosted by Oklahoma's oil boom, Greenwood was packed with black owned stores, workshops, hotels, theaters, lawyers and doctor's offices.

[Don Thompson]

There were over 600 businesses. You can see where they had put little plaques here on the concrete. This is Nails Brothers shoes Destroyed in the 1921 massacre, the Tulsa race massacre.

[Mitchell Hartman]

When an armed white mob supported by city and state officials invaded Greenwood to loot and burn and killed hundreds. Carlos Hill teaches African American history at the University of Oklahoma.

[Don Thompson]

A 40 block area destroyed 11,000 people, made homeless Millions of dollars in destruction that was never repaired, never repaid until.

[Mitchell Hartman]

That point, says Hill. For blacks across the country who came to do business or take a vacation.

[Don Thompson]

Greenwood was a promised land where where black people can build business, own property, can actually exist in American society in an economically advantageous position.

[Mitchell Hartman]

But that prosperity and the intergenerational wealth it could have built are gone. There are a number of reasons. The massacre, redlining by banks and insurance companies, housing segregation. Today only half as many black Tulson's own homes as white Tulsans. Back in 1920, the black homeownership rate was equal to that of whites. Black unemployment and poverty are much higher. Life expectancy is five years lower. Christy Williams is a descendant of massacre survivors and believes government has an obligation to redress racial violence of the past with compensation.

[Christy Williams]

Today we do need economic reparations. That's the only way we're going to close the gap. People will say, well, what is reparations? Reparations is cash. Reparation is land.

[Mitchell Hartman]

Williams and other advocates are lobbying for millions in public funds for black Tulsans.

[Christy Williams]

We requested $25 million for housing for descendants. What we need is rooftops will help us get grocery stores back and other things that we need to have a viable community.

[Mitchell Hartman]

The housing reparations proposal was introduced in Tulsa City Council last year. At town meetings, some critics said that using taxpayer money to compensate descendants isn't fair to today's Tulsa residents who had nothing to do with the massacre 100 years ago. Legal efforts to obtain compensation for survivors have been rejected by the Oklahoma Supreme Court. And the local plan for compensation, if it ever passes, will likely face similar challenges in state court and the Republican controlled legislature. I'm Mitchell Hartman for Marketplace.

[Nova Safo]

Another look at markets. Oil prices are down more than 1% over growth concerns in the US and China. I'm Novosafo with the Marketplace morning report from APM American Public Media.

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Got a toxic boss you don't know how to deal with? Maybe a co worker who sends the most annoying slack messages. Well, we've got a new advice segment to help you out. Oh girl, you gotta go. I have been coaching women in how to quit for a long time. Often many of us are like ignoring signs that it's time to move on to a new opportunity and then blocking our blessings. I'm Rima Reis and this week on this is Uncomfortable. We find solutions to your work drama. Listen wherever you get your podcasts.