The disparity in wealth in the United States between African-Americans and whites has long been recognized. This article reviews differences in asset holdings, based on a comparison of the Survey of Consumer Finances (SCF) 1998 data with the 1995 data. The author found that disparities in asset...
Since the 1970s, income inequality and wealth disparity in the U.S. have continually deepened. According to a Federal Reserve's latest report, the total wealth of the richest 1 percent reached a record $45.9 trillion at the end of the fourth quarter of 2021, more than that of the bottom...
One key area in which the disparity is evident is homeownership, a symbol of wealth among middle-class Americans. "Starting in the 1930s, black people in this country were systematically denied the opportunity to purchase homes because of a racist scheme called redlining," Rice says. "A major...
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The Gini Index quantifies the wealth disparity between the richest and poorest members of society. A score of zero represents perfect equality (everyone has equal wealth) and 100 represents maximum inequality (one person has all the wealth, and everyone else has none). ...
Amid protests throughout the country against the treatment of black Americans, several black corporate and nonprofit leadersshared their views on the demonstrations with CNBC. They emphasized that the unrest in America is not just a result of racial injustice, but also thedispari...
The concentration of investment-type assets generally remained as high in 2007 as during the previous two decades. The racial and ethnic disparity in wealth holdings, after stabilizing throughout most of the 1990s, widened in the years between 1998 and 2001, but then narrowed during the early ...
Generational Wealth and the Wealth Gap In the United States, a survey from the Federal Reserve shows that the top 10% of the population holds 74% of the country’s wealth, while the bottom 50% holds just 2%. A major reason for that disparity is the transfer of wealth from generation to...
(2019) [1] found that since 1995, wealth disparity in China has sharply intensified. By 2015, the wealth share of the top 10% of the population was almost comparable to that of the United States, far exceeding that of other developing countries. These disparities have become a critical ...
During the 2020 election, the immense and increasing disparity in wealth in the United States promptedpoliticians such as Sen. Bernie Sanders (I-Vt.)andSen. Elizabeth Warren (D-Mass.) to propose a wealth tax, in addition to the income tax. In March 2021, Warren introduced S.510, a revis...