Black Wealth/White Wealth

Abstract

This chapter develops a perspective on racial inequality that is based on the analysis of private wealth. Just as a change in focus from income to wealth provides a different perspective on racial inequality, the analysis reveals deep patterns of racial imbalance not visible when viewed only through the lens of income. The basis of the authors' analysis is the analytical distinction between wealth and other traditional measures of economic status, of how people are ''making it'' in America. More important, wealth taps not only contemporary resources but material assets that have historic origins. The empirical heart of their analysis resides in an examination of differentials in black and white wealth holdings. The empiricals heart of authors' analysis resides in an examination of differentials in black and white wealth holdings. Economists argue that racial differences in wealth are a consequence of disparate class and human capital credentials, propensities to save, and consumption patterns.

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