Color of wealth: what's the racial wealth divide?

The Color of Wealth is available June 2006. Subtitled "The Story Behind the US Racial Wealth Divide", authors include my girl Rose Brewer along with Rebecca Adamson, Meizhu Lui, Barbara Robles and Betsy Leondar-Wright.

Woman of colour and M.I.T.-trained economist Julianne Malveaux reviews TCoW: "... shows how contemporary wealth differences evolve from pivotal points in our history, and explains how public policy, even when well meaning, reinforces existing inequality. This book is an important contribution to critical work on race and economics.” Julianne's most recent book is Wall Street, Main Street and the Side Street: A Mad Economist Takes a Stroll.

The Color of Wealth press release explains that for every 100 cents (dollar) owned by an "average" US white family, an "average" US family of color has just 18 cents. "Why do people of color have so little wealth? The Color of Wealth lays bare a dirty secret: for centuries, people of color have been barred by laws and by discrimination from participating in government wealth-building programs that have benefited white Americans." This includes, for example, "post–World War II GI Bill programs [that] helped whites only—The Color of Wealth is the first book to demonstrate the decisive influence of government on Americans’ net worth."

Comments

[Mark Rosenkranz]

I wrote a book entitled "White Male Privilege." It is a study of racism in America 40 years after the voting rights act. The United Kingdom Amazon has a synopsis of this book. Maybe this book could be of use in terms of understanding perspective which is the first step in stopping racism.

[Suebob]

And with these Bush tax policies in place, it isn't going to be getting better any time soon. Without an estate tax, I fear we are headed to an El Salvador situation where 10 families control the whole economy.

[Uaridi]

It is sad. I once contrasted the lifestyle of a Black and White school principal. I could have been comparing bannans and apples.