By Melvin Oliver, Thomas Shapiro
The award-winning Black Wealth / White Wealth offers a robust portrait of racial inequality according to an research of personal wealth. Melvin Oliver and Thomas Shapiro's groundbreaking examine analyzes wealth - overall resources and accounts instead of source of revenue by myself - to discover deep and chronic racial inequality in the United States, and so they exhibit how public guidelines have did not redress the problem.
First released in 1995, Black Wealth / White Wealth is taken into account a vintage exploration of race and inequality. It supplied, for the 1st time, systematic empirical proof that defined the racial inequality hole among blacks and whites. The 10th Anniversary version includes solely new and substantive chapters. those chapters examine the continued problems with wealth and inequality in the United States and the recent regulations which have been introduced long ago ten years. a few were innovative whereas others purely recreate inequality - for instance the thought to dispose of the property tax.
Compelling and in addition informative, Black Wealth / White Wealth is not only pioneering study. it's also a robust counterpoint to arguments opposed to affirmative motion and an immediate problem to present social welfare guidelines which are tilted in the direction of the wealthy.
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Extra info for Black Wealth / White Wealth: A New Perspective on Racial Inequality
The third challenges the assumption that reliable wealth data cannot be procured, an assumption that is no longer valid. The appropriate theoretical inclination is to examine wealth—instead, income gets used as the next best, nearly identical piece of evidence. Others have taken a different tack by suggesting that in modern capitalist society wealth has become separated from power, thereby presuming that wealth has declined in meaning. Thomas Dye, for example, in Who’s Running America says it is a mistake to equate personal wealth with economic power.
Indb 16 3/23/06 4:54:18 PM Race, Wealth, and Equality / 17 that authorized the Home Owners Loan Corporation (HOLC). ”10 Of more importance to this story, however, it also introduced standardized appraisals of the fitness of particular properties and communities for both individual and group loans. ” Charged with the task of determining the “useful or productive life of housing” they considered to finance, government agents methodically included in their procedures the evaluation of the racial composition or potential racial composition of the community.
C. indb 29 3/23/06 4:54:20 PM 30 / Oliver and Shapiro inherited wealth in financial success is a subject of considerable contention among economists, whose theoretically driven models of the significance of inherited wealth support a wide and quite contradictory range of findings. 37 Chapter 4 examines the relationship between income and wealth in considerably more depth. Why Study Wealth? Income is the standard way to study and evaluate family well-being and progress in social justice and equality in the United States.