Economics

Democrats struggle to limit the loss of black voters in Georgia

Published

3 months ago

October 17, 2024

Oct 17th 2024 | Atlanta, GA

The drift of black voters away from the Democratic Party has become a touchstone of the 2024 election. In Georgia, the anxieties of the Kamala Harris campaign are hard to miss. On one night in Atlanta it deployed music moguls to run a “Brothas and Brews” event. Then it released an “opportunity agenda for black men”, promising to give more business loans, protect cryptocurrency and legalise marijuana. To press her closing arguments Ms Harris is sitting down with Charlamagne tha God and other influencers.

Four years ago, Mr. Biden won the state by a razor-thin margin of 11,779 votes. If turnout remains constant this year, a gap like that among black voters would amount to a deficit of 139,000 votes for Ms Harris.

Donald Trump’s allies are pouring it on as early voting opens in Georgia: “For the last three and a half years the Democrats haven’t given a damn about black men unless they’re dead or gay,” Michaelah Montgomery, a black Republican activist, roared onstage at a rally featuring Mr Trump on October 15th. In the packed audience, black men in suits stood and clapped as white women looked on, beaming. Liberals can seem befuddled about why some black voters are turning to Mr Trump but the defectors are often moved by the same issues as other supporters: jobs and reinvesting at home. “You can’t fund other countries if your own backyard is on fire,” says Kiersen Harris, a 22-year-old security guard who plans to vote for Mr Trump.

Mr Biden’s narrow win in Georgia, the first by a Democrat since 1992, was one of the most remarkable results of the 2020 election. It announced that Democratic presidential candidates could again compete in old Dixie after years of mostly fruitless effort. An influential prophet of the turnaround was Stacey Abrams, a Democratic politician who had argued for years that the state was ripe for flipping. Anything less than full investment in Georgia “would amount to strategic malpractice”, she told national Democrats in 2019.

Stacey Abrams, photographed in her back yard in Decatur, Georgia.

Image: Rita Harper

Why was she right? In the two decades to 2020 Georgia’s voting population grew by 1.9m. Nearly half of that growth came from black voters—the largest percentage-point increase in any state’s black electorate. New voters came mostly from New York and Florida, but also the Caribbean and Africa. They bolstered the state’s well-established black elites. Black voters born outside Georgia are now more than twice as likely as black natives to have a college degree. This was a double advantage for Democrats, who increasingly rely on college-educated and minority voters.

Now Mr Biden’s achievement in 2020 lies on a knife’s edge. If Ms Harris does not match Mr Biden’s share of the black vote, she would need to make up votes among white voters, who skew Republican. But whereas Mr Biden won 30% of the white vote in Georgia, polls show Ms Harris up by just one point, at 31%. If that finding proves accurate she can afford to drop just two percentage points with black voters, not the ten shown in current polls.

Jobs on their mind

Lower turnout this year could exacerbate Ms Harris’s problem. In 2020 Georgia had two Senate races that attracted national attention and ultimately determined control of the chamber. This time there are no statewide contests to motivate voters disaffected by the presidential candidates. And the black migration that helped Democrats win in 2020 seems to have slowed. Data from L2, an analytics firm, show that of the 187,000 voters who moved to Georgia since 2020 only 24% are black, half the share of those who came before.

Perhaps the most striking feature of black voters’ evolving outlook is that young black men see less salience in the civil-rights movement than did their parents’ generation. Just 65% of black men under 30 say civil rights are an issue that is very important to them, compared with 84% of those over 65. Auburn Avenue, a black business district that was once the epicentre of Atlanta’s civil-rights movement, is now hollowed out and quiet. “Thinking about racial politics is a luxury,” says a black millennial who works in Georgia politics. “These days young people are more concerned about jobs.”

Ms Abrams reckons this is a messaging problem—fears about the futures of black men and their access to jobs “are inherently civil-rights issues”, she says. She argues that the idea that black voters are moving away from Democrats is “an extrapolation that is not warranted yet”, especially as polling suggests that black women are heavily motivated by Ms Harris.

Ms Abrams and her peers are confident that the Harris campaign can defy the polls. “We saw some similar softness two years ago and we ended up closing that gap,” says Lauren Groh-Wargo, a longtime Georgia operative. Political scientists have shown that tight-knit black communities have strictly enforced political norms, to include voting for Democratic candidates, even as conservatism has become more popular. Trump-curious black voters may yet be persuaded to back Ms Harris by pastors and women in their extended families. If they express support for Mr Trump “out loud in black spaces, research suggests it’s not going unchallenged,” says Andra Gillespie, a political scientist at Emory University. Most undecideds, she thinks, will break in the end for Ms Harris.

Top: Thomas Anderson, who is 36 years old, is not voting this year in part because “our votes don’t matter”. He considers job creation the most important issue.
Bottom: William Owen, a 54-year-old salesman for Frito-Lay, is leaning towards voting for Kamala Harris. He grew up in council housing and sees affordable housing as the election’s most important issue.

Image: Rita Harper

At Fade Away Cutz in South Atlanta Richard Wright, once a candidate for Atlanta mayor and named for the black author, is getting a crisp shave. He and his barber, both middle-aged, are sceptical of the left but say they are voting for Ms Harris. They worry about the younger men who intend to back Mr Trump—and about the fallout from the campaigns’ obsessions with voters who look like them. “If Trump wins, me and you are going to have to move,” Mr Wright tells his barber between treatments, “because black men are going to get blamed.”■

This article appeared in the United States section of the print edition under the headline “Getting the drift”

Economics

Renewable Energy Tech and Advancements in Storage Solutions

Published

2 hours ago

January 18, 2025

Business Finance News

Renewable Energy Tech and Advancements in Storage Solutions

The global push for sustainable energy has spotlighted renewable energy technologies and advanced storage solutions. These innovations are pivotal in reducing reliance on fossil fuels, mitigating climate change, and ensuring a reliable energy supply. From solar panels and wind turbines to cutting-edge battery storage systems, the renewable energy sector has made remarkable progress. This article explores the latest advancements in renewable energy technologies and the evolution of energy storage solutions.

Advances in Renewable Energy Technologies

Solar Power Innovations
Solar energy remains a cornerstone of the renewable energy sector. Advances in photovoltaic (PV) technology, such as bifacial solar panels, have significantly increased efficiency. These panels capture sunlight from both sides, generating more power from the same area. Additionally, thin-film solar cells, made from lightweight and flexible materials, are expanding the applications of solar power in urban areas and portable devices.
Wind Energy Developments
Wind turbines have become taller and more efficient, capturing wind at higher altitudes where it is stronger and more consistent. Offshore wind farms are also gaining traction, with floating wind turbines enabling installations in deeper waters. These advancements increase energy output while reducing land use and visual impact.
Hydropower and Marine Energy
Hydropower is evolving to include smaller, modular units that can be deployed in remote areas with minimal environmental disruption. Marine energy, including wave and tidal power, is also gaining momentum. These technologies harness the consistent energy of ocean currents, providing a reliable renewable energy source.

The Role of Advanced Energy Storage Solutions

Renewable energy sources like solar and wind are inherently intermittent, producing energy only when the sun shines or the wind blows. Energy storage solutions bridge this gap, ensuring a stable and reliable energy supply.

Lithium-Ion Batteries
Lithium-ion batteries dominate the energy storage landscape due to their high energy density and declining costs. They are widely used in electric vehicles (EVs), residential solar systems, and grid-scale storage solutions. Innovations like solid-state batteries, which replace liquid electrolytes with solid materials, promise enhanced safety and efficiency.
Flow Batteries
Flow batteries are gaining attention for their scalability and long-duration storage capabilities. These batteries use liquid electrolytes stored in external tanks, allowing for easy scaling to meet energy demands. They are ideal for grid applications and large-scale renewable energy projects.
Hydrogen Energy Storage
Hydrogen is emerging as a versatile energy storage medium. Surplus renewable energy can be used to produce green hydrogen through electrolysis, which can then be stored and converted back into electricity or used as fuel. Hydrogen’s potential extends to industrial applications, heavy transport, and long-term energy storage.
Thermal Energy Storage
Thermal energy storage systems store heat or cold for later use, often in buildings or industrial processes. Concentrated solar power (CSP) plants use molten salt to store thermal energy, enabling electricity generation even after sunset.

Impact of Smart Grids and IoT

The integration of renewable energy and storage solutions is further enhanced by smart grid technology. Smart grids use IoT devices and AI-driven analytics to manage energy distribution efficiently. They enable real-time monitoring, demand response, and integration of distributed energy resources, ensuring optimal utilization of renewable energy and storage systems.

Challenges and Future Outlook

While renewable energy and storage technologies have made significant strides, challenges remain. High upfront costs, material shortages, and recycling concerns must be addressed for widespread adoption. However, continuous innovation, policy support, and global collaboration are driving the sector forward.

Emerging technologies like perovskite solar cells, next-generation batteries, and artificial intelligence-driven energy management systems hold the promise of a cleaner, more sustainable energy future.

Conclusion

Renewable energy technologies and advanced storage solutions are transforming the global energy landscape. From efficient solar panels and wind turbines to scalable batteries and hydrogen storage, these innovations are key to achieving energy independence and combating climate change. By investing in these technologies and integrating them with smart energy systems, we can create a resilient, sustainable energy infrastructure for generations to come.

Accounting

Business Transaction Recording For Financial Success

Published

7 hours ago

January 18, 2025

Business Finance News

Business Transaction Recording For Financial Success

In the world of financial management, accurate transaction recording is much more than a routine task—it is the foundation of fiscal integrity, operational transparency, and informed decision-making. By maintaining meticulous records, businesses ensure their financial ecosystem remains robust and reliable. This article explores the essential practices for precise transaction recording and its critical role in driving business success.

The Importance of Detailed Transaction Recording
At the heart of accurate financial management is detailed transaction recording. Each transaction must include not only the monetary amount but also its nature, the parties involved, and the exact date and time. This level of detail creates a comprehensive audit trail that supports financial analysis, regulatory compliance, and future decision-making. Proper documentation also ensures that stakeholders have a clear and trustworthy view of an organization’s financial health.

Establishing a Robust Chart of Accounts
A well-organized chart of accounts is fundamental to accurate transaction recording. This structured framework categorizes financial activities into meaningful groups, enabling businesses to track income, expenses, assets, and liabilities consistently. Regularly reviewing and updating the chart of accounts ensures it stays relevant as the business evolves, allowing for meaningful comparisons and trend analysis over time.

Leveraging Modern Accounting Software
Advanced accounting software has revolutionized how businesses handle transaction recording. These tools automate repetitive tasks like data entry, synchronize transactions in real-time with bank feeds, and perform validation checks to minimize errors. Features such as cloud integration and customizable reports make these platforms invaluable for maintaining accurate, accessible, and up-to-date financial records.

The Power of Double-Entry Bookkeeping
Double-entry bookkeeping remains a cornerstone of precise transaction management. By ensuring every transaction affects at least two accounts, this system inherently checks for errors and maintains balance within the financial records. For example, recording both a debit and a credit ensures that discrepancies are caught early, providing a reliable framework for accurate reporting.

The Role of Timely Documentation
Prompt transaction recording is another critical factor in financial accuracy. Delays in documentation can lead to missing or incorrect entries, which may skew financial reports and complicate decision-making. A culture that prioritizes timely and accurate record-keeping ensures that a company always has real-time insights into its financial position, helping it adapt to changing conditions quickly.

Regular Reconciliation for Financial Integrity
Periodic reconciliations act as a vital checkpoint in transaction recording. Whether conducted daily, weekly, or monthly, these reviews compare recorded transactions with external records, such as bank statements, to identify discrepancies. Early detection of errors ensures that records remain accurate and that the company’s financial statements are trustworthy.

Conclusion
Mastering the art of accurate transaction recording is far more than a compliance requirement—it is a strategic necessity. By implementing detailed recording practices, leveraging advanced technology, and adhering to time-tested principles like double-entry bookkeeping, businesses can ensure financial transparency and operational efficiency. For finance professionals and business leaders, precise transaction recording is the bedrock of informed decision-making, stakeholder confidence, and long-term success.

With these strategies, businesses can build a reliable financial foundation that supports growth, resilience, and the ability to navigate an ever-changing economic landscape.

Economics

A protest against America’s TikTok ban is mired in contradiction

Published

14 hours ago

January 17, 2025

Business Finance News

AS A SHUTDOWN looms, TikTok in America has the air of the last day of school. The Brits are saying goodbye to the Americans. Australians are waiting in the wings to replace banished American influencers. And American users are bidding farewell to their fictional Chinese spies—a joke referencing the American government’s accusation that China is using the app (which is owned by ByteDance, a Chinese tech giant) to surveil American citizens.