Wealth is where past injustices breed present sufferings.Law professor and scholar on the racial wealth gap
The racial wealth gap is the disparity in median wealth between different racial groups in the United States. In a 2018 study, the Federal Reserve found, “The median Black household has less than 11 percent the wealth of the median white household (about $15,000 versus $140,000).” Evidence shows that this gap has been growing for over 60 years. How can we make sense of such vast inequity, and how can we create an equitable system for all Americans? The answers are informed by a nuanced understanding of historical decisions, housing policies and access to opportunity.
Read this article from The Brookings Institution, which examines the Black-white wealth gap. (6 minutes)
Read this article on the “Racial Wealth Gap in the United States” (Section: “How to Close the Racial Wealth Gap”) to learn about policy proposals that might help close the racial wealth gap by increasing economic mobility. (5 minutes)
Watch this documentary “Explained” on Netflix that explores the racial wealth gap. (16 minutes)
Watch “The Financial Well-Being of Detroit Residents”: a conversation between United Way for Southeastern Michigan and the University of Michigan Poverty Solutions. (90 minutes)