Whites Are 5 Times Richer Than Blacks, Study Finds
A study out of Brandeis University has determined that white Americans have roughly five times the wealth of black Americans of similar class, owing largely to greater economic opportunity. The results are worse than expected and suggest that America is backsliding in an important indicator of racial equality.
A study out of Brandeis University has determined that white Americans have roughly five times the wealth of black Americans of similar class, owing largely to greater economic opportunity. The results are worse than expected and suggest that America is backsliding in an important indicator of racial equality.
Dig, Root, GrowThe Guardian:
Shapiro says one of the most disturbing aspects of the study is that wealth among the highest-income African-Americans has actually fallen in recent years, dropping from a peak of $25,000 to about $18,000, while among white counterparts of similar class and income it has surged to around $240,000.
In 1984, high-income black Americans had more assets than middle-income whites. That is no longer true.
“I’m a pretty jaded and cynical researcher in some way, but this was shocking, quite frankly, a really important dynamic,” said Shapiro. “This represents a broken chain of achievement. In the United States context, when we are thinking about racial equality and the economy we have focused for a long time on equal opportunity.
This year, we’re all on shaky ground, and the need for independent journalism has never been greater. A new administration is openly attacking free press — and the stakes couldn’t be higher.
Your support is more than a donation. It helps us dig deeper into hidden truths, root out corruption and misinformation, and grow an informed, resilient community.
Independent journalism like Truthdig doesn't just report the news — it helps cultivate a better future.
Your tax-deductible gift powers fearless reporting and uncompromising analysis. Together, we can protect democracy and expose the stories that must be told.
Dig. Root. Grow. Cultivate a better future.
Donate today.
Editorial Cartoons
Editorial Cartoons
TD Original
What a falling stock market tells us about the economy — and what it doesn’t.
Editorial Cartoons
Politics
The despair of lower-income voters was seen as a political problem rather than an empirical reality.
Editorial Cartoons
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.