Here's an interesting hypothetical. If you were asked to predict the magnitude of the racial wealth gap in 1963 versus 2016, what would you say? Has it improved, stayed the same, or gotten worse? This was the focus of a new article appearing in the journal Perspectives on Psychological Science. Specifically, a team of researchers led by Michael
In the United States, women who work year-round earn somewhere near 82 cents for every dollar earned by men — but they only own about 32 cents for every dollar of wealth owned by their male counterparts. Both of these gaps are far more acute for black and Latina women. These stats aren’t new, but the way we talk about
If the college cheating scandal has reinforced anything, it’s that one of the primary advantages of being wealthy is that the wealthy can buy more advantages. This helps explain why African Americans, who’ve historically been denied wealth, lag in almost every category of society behind whites, who have long benefited from capital extracted from black labor and culture.