By Melvin Oliver, Thomas M. Shapiro

The award-winning Black Wealth / White Wealth offers a strong portrait of racial inequality in keeping with an research of personal wealth. Melvin Oliver and Thomas Shapiro's groundbreaking examine analyzes wealth - overall resources and money owed instead of source of revenue by myself - to discover deep and chronic racial inequality in the USA, they usually convey how public guidelines have didn't 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 facts that defined the racial inequality hole among blacks and whites. The 10th Anniversary version includes completely new and sizeable chapters. those chapters examine the continued problems with wealth and inequality in the USA and the hot rules which have been introduced long ago ten years. a few were revolutionary whereas others simply recreate inequality - for instance the suggestion to dispose of the property tax.

Compelling and in addition informative, Black Wealth / White Wealth isn't just pioneering learn. it's also a robust counterpoint to arguments opposed to affirmative motion and an instantaneous problem to present social welfare regulations which are tilted in the direction of the wealthy.

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Additional resources for Black Wealth / White Wealth: A New Perspective on Racial Inequality, 2nd Edition

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Besides these demographic adjustments and changes in basic social organization, keeping the middle-class dream alive also required financial modifications. Certainly there is no better symbol of the American Dream than home ownership. Overall home-ownership rates peaked in the mid- to late 1970s, with young families finding it most difficult to enter the overheated, inflationary housing market. 4 percent. 7 percent. No wonder. 32 As we have shown elsewhere, by 1990 the average home consumed nearly one-half (48 percent) of his paycheck.

James Baldwin, ‘‘A Talk to Teachers” “De slaves spected a heap from freedom dey didn’t get. ” —Eric Foner, Reconstruction The tragedy of Reconstruction is the failure of the black masses to acquire land, since without the economic security provided by land ownership the freedmen were soon deprived of the political and civil rights which they had won. —Claude Oubre, Forty Acres and a Mule The close of the Civil War transformed four million former slaves from chattel to freedmen. Emerging from a legacy of two and a half centuries of legalized oppression, the new freedmen entered Southern society with little or no material assets.

The link between growth and mobility was readily apparent. Between the end of World War II and the early to mid-1970s, the economy created a steady stream of jobs that permitted workers and their families to escape poverty and become part of a growing and vibrant middle class. The economy could absorb millions of new workers and a growing part of the population found middle-class life within reach. Incomes grew faster than dreams. Dreams became grander. Working families could even afford a comfortable lifestyle with one breadwinner in the work force.

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