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according to the nation, filial wealth-sharing, the generation to generation dist. of previous holdings, has been pointed to as being one of the main culprit in the economic disparity between black and white families. more below:
the author adds that,
a.) do you believe the disparity is this pronounced?
b.) if yes, how can the gap be lessened/what is the cause?
Those are the key findings of a new study of the racial wealth-gap released this week by the Institute for Policy Studies (IPS) and the Corporation For Economic Development (CFED). They looked at trends in household wealth from 1983 to 2013—a 30-year period that captured the rise of Reaganomics, expanded international trade and two major financial crashes fueled by bubbles in the tech sector and housing prices. The authors found that the average wealth of white households increased by 84 percent during those three decades, three times the gains African-American families saw and 1.2 times the rate of growth for Latino families
the author adds that,
If those trends persist for another 30 years, the average white family’s net worth will grow by $18,000 per year, but black and Hispanic households would only see theirs grow by $750 and $2,250 per year, respectively. . . According to Princeton University sociologist Dalton Conley, the wealth of a child’s family is the single greatest predictor of that child’s future economic prospects. Conley, whose data did include things like cars and household goods, found that even white households hovering around the poverty line have a net worth of $10,000 to $15,000, but the typical black family at that income level will often be under water, with a negative net worth. In many cases, that means turning to usurious predatory lenders to stay afloat—an added expense of being poor.
a.) do you believe the disparity is this pronounced?
b.) if yes, how can the gap be lessened/what is the cause?