Like most aspects of social life, wealth inequality is not color blind. Millions of Americans suffered from the economic loss of the recession, but the last decade has proven to be especially hard on the African Americans and Latin American communities all over the United States. Even when we have come a long way in terms of racial discrimination, and the United States has become wealthier and better educated, the economic disparities that separate whites from blacks remain as wide as they were fifty years ago.
The wealth gap might still be growing, diminishing the opportunities for African Americans and Hispanics to advance economically. The median household net worth for whites is of $110,729, versus $4995 for blacks in 2010, according to a recent study by the Census Bureau. This difference is also notable when applied to Hispanics, who have a household net worth of $7424. This gap had widened since the last economic recession, where whites were affected less than blacks, hispanics and asians. These last 3 groups saw their median household net worth fall by 60%, while the median household net worth for whites fell by only 23%. The main reason why blacks and hispanics were hit hardest during the economic recession is because home equity makes up more of their wealth than it does for white people. In addition, discriminatory lending practices affect communities of color more than white communities.
In addition to economic housing challenges faced by minorities, black neighborhoods are exposed to environmental hazards that impact health, like exposure to lead, which impedes learning, lowering earnings, and heightening crime rates. Economic inequality can't explain why individual cases like Ferguson happen, but it can help to explain why cops are more likely to make racially biased judgements. Economic injustice and inequality institutionalizes attitudes on the white population, creating frustration and anger on the part of the African Americans. Violence and crime is the outcome of economic injustice based on race.
Works cited
Luhby, Tami. "Recession Widens the Wealth Gap by Race." CNNMoney. Cable News Network, 21 June 2012. Web. 03 Nov. 2014.
McGee, Suzanne. "Protests over Michael Brown's Death in Ferguson Show America's Struggle with Inequality." The Guardian. N.p., 19 Aug. 2014. Web. 5 Nov. 2014.
Works cited
Luhby, Tami. "Recession Widens the Wealth Gap by Race." CNNMoney. Cable News Network, 21 June 2012. Web. 03 Nov. 2014.
McGee, Suzanne. "Protests over Michael Brown's Death in Ferguson Show America's Struggle with Inequality." The Guardian. N.p., 19 Aug. 2014. Web. 5 Nov. 2014.
Plummer, Brad. "These Ten Charts Show the Black-white Economic Gap Hasn't Budged in 50 Years." Washington Post. The Washington Post, 28 Aug. 2013. Web. 04 Nov. 2014.
Lowrey, Annie. "Wealth Gap Among Races Has Widened Since Recession."The New York Times. The New York Times, 28 Apr. 2013. Web. 05 Nov. 2014.
It's amazing to see how large income inequality actually is. To think that White make over 20 times as much as Blacks is unheard of and sickening. I could see how this disparity could easily lead to overall inequality between Blacks and Whites as Whites see Blacks as an impoverished group instead of as equals.
ReplyDeleteMeasure of wealth not income.
DeleteThis is an issue that the U.S. always had to face, not only now but in the past too. I think people should move to do something against it rather than just talking about it. I think blacks and latinos should have more opportunities to increase their socio-economic status, something that has still not being faced the right way.
ReplyDelete