In a 1993 essay, Milton Friedman declared that one of the virtues of the free market system was its non-consideration of one’s color or religion.1 The only thing that ultimately matters is the quality of a good or service. Therefore, participants in any free market should expect that their participation in the market would not be hindered by factors outside their control, such as race. Yet historically Black colleges and universities (HBCUs) face just such a set of obstacles, and in a marketplace which, while little discussed beyond specialist circles, harbors funding resources that HBCUs simply cannot do without.
Authors
- Published in
- United States of America
Table of Contents
- How Racial Animus Has Locked HBCUs Out of Capital Markets 1
- JORDAN NELLUMS 1
- How the Capital Finance Market Works—and Why It Isn’t Equal-Opportunity in Practice 2
- FIGURE 1 OFFICIAL STATEMENT OF GENERAL OBLIGATION BONDS, CITY OF AUSTIN 3
- SOURCE: CITY OF AUSTIN OFFICIAL STATEMENT FOR SEPTEMBER 12, 2023 4
- HBCUs Have Always Fought an Uphill Battle 5
- FIGURE 2 MAP OF HBCUS IN THE UNITED STATES 5
- FIGURE 3 6
- The Infrastructure Needs of HBCUs 6
- FIGURE 4 6
- Colorblind Markets Are a Myth 7
- TABLE 1 7
- Policy Solutions 8
- Offer Triple Tax Exemption 8
- Improve the HBCU Capital Financing Program 9
- TABLE 2 9
- TABLE 3 10
- Increase Grant Funding 10
- Looking Forward 11
- Notes 11
- Jordan Nellums, Policy Associate 13
- LATEST 13
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- Improving the Consumer Protection Power of College Accreditation 14
- Universities Are Getting Wise to the Dubious Practices of Online Program Contractors 15
- Stagnant Funding Has Broken the Office of Federal Student Aid and Failed Students 15
- Anti-DEI Bill in Texas Is a Warning for Other States 16
- Latest Student Debt Relief Plan Would Help Hardest-Hit Parent-Borrowers 16
- Stay informed by signing up for our mailing list 17
