While capitalism can create opportunities for innovation and wealth generation, it disproportionately harms Black women by perpetuating economic inequality, wage disparities, and systemic barriers to career and wealth-building opportunities. The Sis Sanctuary aims to address these issues by creating a safe space for Black women to navigate these challenges, providing career development, wellness resources, and community support to help them thrive in an unequal system.
What is Capitalism & How Does Capitalism Harm Black Women?
​
Capitalism is an economic system where private individuals or businesses own and control the means of production (factories, land, resources) and operate for profit. The hallmark of capitalism is a free market where goods and services are traded competitively, and prices are determined by supply and demand. It encourages innovation, economic growth, and wealth accumulation but often leads to unequal distribution of resources.
​
Capitalism, particularly in the U.S., is deeply intertwined with historical systems of oppression such as racism and sexism. For Black women, these systems amplify the negative effects of capitalism in several ways:
​​​​​
-
Wage Disparities:
-
Black women are paid less than both their white male and female counterparts. According to studies, Black women earn approximately 64 cents for every dollar earned by a white man, which reflects a long-standing wage gap. This is due to both racial and gender discrimination in the workplace, perpetuating economic inequality.
-
-
Limited Access to Leadership Opportunities:
-
In capitalist structures, access to leadership roles is often based on networks, connections, and systemic privileges that Black women are historically excluded from. This leads to fewer Black women in executive and managerial positions, limiting their influence and opportunities for professional growth.
-
-
Labor Exploitation:
-
Historically, Black women were often relegated to lower-wage jobs and sectors, such as domestic work and service industries, which are undervalued in a capitalist economy. This legacy continues today, with many Black women overrepresented in low-paying, precarious jobs, further reinforcing economic instability.
-
-
Intersection of Racism and Sexism:
-
Black women face the unique intersection of both racial and gender discrimination under capitalism. This double disadvantage means they experience more barriers to career advancement, experience higher rates of workplace discrimination, and are often left out of conversations about diversity and equity.
-
-
Lack of Wealth Accumulation:
-
Capitalism rewards those who have access to wealth and assets. Due to systemic barriers like discriminatory housing policies, exclusion from wealth-building opportunities, and generational poverty, many Black women have been denied the opportunity to accumulate generational wealth. This perpetuates cycles of poverty and financial instability.
-
-
Exploitation of Emotional and Physical Labor:
-
Black women are often expected to take on the emotional labor of diversity and inclusion initiatives in workplaces, without adequate compensation or recognition. They are also overrepresented in roles that require physical labor, such as caregiving and service work, which are underpaid and undervalued in capitalist economies.
-
-
Barriers to Entrepreneurship:
-
Although capitalism promotes entrepreneurship, Black women face significant hurdles when starting their own businesses, including lack of access to capital, discriminatory lending practices, and fewer networks for business support. These barriers make it more difficult for Black women to thrive as entrepreneurs.
-
-
Mental and Physical Health Impacts:
-
The stress of navigating a capitalist system that marginalizes them impacts Black women's mental and physical health. Constantly dealing with microaggressions, discrimination, and financial instability leads to higher rates of stress-related illnesses, further perpetuating a cycle of disadvantage in a capitalist society.
-