This is a big question, and here is an imperfect answer. But first, what is racism? I think racism can be viewed as a convenient social construct established to use physical differences in people to segregate, limit and control the allocation of opportunities, rights, privileges, resources, consequences, etc., that are available to various groups of people in a society. To be anti-racist is to recognize that these constructs are artificial and wrong and should not be allowed to dominate the exchange between people, or be the basis for human aspirations or experiences. Yet, whether formal or informal, tacit or overt, intended or unintended, racism exists and is promoted by one group in society in power over other groups who may be less powerful, since those in power can set policies and structures that are perpetuated over time and, therefore, become systemic. To be anti-racist is to believe that all people are human beings.

Society should accept human diversity and champion a more inclusive culture, encouraging access for all, regardless of skin color or other social constructs. To be anti-racist is to oppose social arrangements that promote a particular social order based on the overall superiority of one group of humans because of the color of one’s skin — for example, white supremacy — or other obviously physical features. There is only one “race.” A practicing racist notices first the color of another human’s skin and uses race to make judgments. To be anti-racist is to reframe initial impressions of others who do not look like you and avoid the use of color (race) to profile and stereotype other human beings.

Equity, diversity and inclusion have been put forth as the response. I believe that diversity can be achieved and inclusion will follow. The real challenge is to create equity (not equality). This cannot occur without some redistribution of power, resources, opportunities, education and access. This means fostering wealth creation — human and non-human wealth in people and communities that are excluded, less powerful, uneducated and poor. I have often noted that we can get to “D” and “I” but “E” is where efforts die. To make progress, we have to create positive and open pathways to better understanding of each other, and break down the barriers of fear that inhibit open and honest conversation.

The capacity to feel for others and understand their situation is an important characteristic of human beings and is fundamental to being open and responsive to change. An equitable society requires an empathetic culture and a predisposition among humans to respect one another and view differences as an opportunity for learning. I think of empathy as the social fiber that binds people as they begin to respect and connect with one another both emotionally and intellectually, and that allows meaningful engagement in efforts to build community.

I give of my time and money to efforts that will improve access and opportunity. I support the development of human talent through education and training programs as a large part of my philanthropy. Wherever possible, I promote diversity and inclusion in the workplace and on boards of directors. I have a strong belief in the importance of education and skill development and have established fellowship programs. I am an economist by training, and I tend to look at racism through that perspective. Wealth matters. Many social issues will disappear if [those who have been affected by segregation instead have] jobs conducive to savings, and hence, eventual wealth accumulation. Wealth is the driver.

More specifically, in my work for more than 30 years with the Price Center, I have been actively committed to improving management and entrepreneurial competencies in the leaders of not-for-profit child development agencies, including Head Start, as well as community health clinics, disabled veterans, minority- and women-owned businesses and family businesses. My purpose has been to offer hope and strategic skills so that these entrepreneurs and leaders can build their businesses and meet the needs of their community. In so doing, they will create wealth for Head Start, community clinics, veterans and struggling entrepreneurs.

Second, early in 2021, I funded an award for the best piece of research on understanding the problem of wealth, business formation and access in underserved communities. (The Bradford-Osborne Research Award, named for its founders, William “Bill” Bradford, dean emeritus and emeritus professor of business at the University of Washington’s Foster School of Business, along with Osborne, recognizes peer-reviewed scholarly research that advances knowledge to accelerate the growth of businesses owned by people of color. It was awarded for the first time in 2020.)

Third, mindful of the need to help create solutions for Black artists, my wife Nancy and I decided to forge a partnership between the nonprofit Truro Center for the Arts at Castle Hill on Cape Cod and Morgan State, a historically black university in Baltimore, Maryland. This will create residency opportunities for Black artists at historic Edgewood Farm in Truro.

With our commitment to rowing as a result of my son’s experience (2012 U.S. Olympian and 2009 Pac-10 Rower of the Year Alex Osborne), we also support RowLA, a Los Angeles nonprofit that empowers young women from undeserved communities to be excellent, develop good academics and, through rowing, go on to college.

In the same vein, moved by the inspirational documentary A Most Beautiful Thing, we support the efforts of rower and author Arshay Cooper to build positive outcomes for gang members through rowing.

I am hopeful that the fierce conversations and self-examination we allow ourselves to experience will be the basis for developing the empathy and engagement necessary for each of us as human beings to aspire to and promote a more equitable society.