William Penn House has been involved in Quaker Workcamps for more than ten years and during that time we have been involved in community projects and partners with specific goals to helping develop the community we live in. From projects in local soup kitchens, to helping out neighbors install garden beds. Often times however, we find ourselves confronting economic forces. It can be discouraging to walk into a neighborhood and do a project only to find out that the homeowners have been moved out and their property is being renovated. Gentrification is a real problem that is extremely difficult to combat. Often communities are divided based on racial and class lines. If something you own which had no value at one point suddenly becomes valuable, how do you hold onto it if you have few resources yourself? Residents in Takoma Park rallied about a month ago against rent increases in an apartment complex as rents in some cases jumped a staggering 70%.
Its an indictment of our current economic system that incentivizes landowners to drive rates up with destabilizing effect and for prospective residents who are willing to pay whatever to just get a space to live. While Residents coming in are so desperate to get a space that they don’t question who they replace or even the pricing. So concerned with consuming out of fear or out of desperation or even out of a need for self fulfillment by proving that we can, we often step over and hurt other people in our community. Consumptive economies, ours especially, are wasting resources, creating great inequalities, and is harmful to life on earth. In particular the way we easily use and discard resources has become the hallmark of our consumptive economy. From styrofoam cups, to water bottles, from fossil fuels to electronics, Americans have a problem of using something until it doesn’t meet a particular need before poorly discarding it. It’s completely ingrained our culture.
While progress has been slow towards sustainable economies, Quakers have begun pushing wall street and the business to be more ethically conscious. After our October potluck discussion at William Penn House, we heard about Friends Fiduciary Corporation’s push to invest in morally sound companies that use ethical business practices that follow Quaker testimonies. Jeff Perkins suggested that using the power of shareholder ethics and a fear of reputational risk, Mutual Funds and shareholders might be able to motivate companies into right action through proxy votes and shareholder resolutions. He told us that there was a time when Wells Fargo engaged in predatory lending practices and after Friends Fiduciary brought the matter to a shareholder meeting through a shareholder resolution, other shareholders felt that the reputational risk was to great to continue those practices and the shareholders voted against providing predatory loans. Having a stake in a company keeps
At that point a local consultant from green eagle consulting sat and talked about a number of great efforts to help the DC community such as micro-lending and smaller investment groups one could support. After the talk, I went and spoke with the individual and asked him, “is there any particular way in which people are combating gentrification at an investor or economic level?” to which the he answered “not that I know of”. So what has been the current recourse for residents facing the loss of their homes to high rents and property taxes? According to Curbed, in Takoma Park, residents have protested and have told authorities about the raising rates, but so far they have seen little success. So what is an organization like ours supposed to do? Follow the words of George Fox by “walking cheerfully over the world, answering that of God in everyone”, which requires us to remain active in our community.