Oddbean

OneUnited Bank CEO: Ending slavery is the best economic decision America ever made ========== Kevin Cohee, the chairman and CEO of OneUnited Bank, argues that ending slavery was the best economic decision America ever made. He explains that the decision to end slavery had a profound impact on making America the strongest country in the world, both socially and economically. From a social perspective, ending slavery allowed America to uphold its core values of equality and become a role model for democracy. From an economic perspective, emancipation generated economic gains equivalent to up to 35% of the U.S. GDP, making it one of the most important economic events in American history. The economic benefits of emancipation include increased workforce participation, growth of human capital, contributions to the economy through entrepreneurship, and expanding the consumer market. Cohee emphasizes the importance of overcoming economic disadvantages and promoting financial literacy to realize the full economic benefits of ending slavery. He also highlights the significance of Juneteenth as a national holiday, symbolizing the power of information in achieving true freedom. Cohee suggests that technology, particularly artificial intelligence, can empower people to overcome financial illiteracy and unlock the economic potential of emancipation. He calls for massive Juneteenth celebrations to bring Americans together and promote a better America and a better world. #Slavery #EconomicDecision #Juneteenth #Emancipation #Equality #EconomicGrowth #FinancialLiteracy #ArtificialIntelligence https://fortune.com/2024/06/19/oneunited-bank-ceo-ending-slavery-economic-decision-america-juneteenth/