
The deep roots of America’s racial wealth divide and why it exists by historical design
In the more than 150 years since the end of the Civil War, Black American wealth remains a fraction of that held by White Americans. Just after emancipation in 1865, African Americans owned 0.5% of national wealth. By 2019, that percentage had not risen above 2%. An analysis by the Brookings Institution found that the median wealth of White families stood at $188,200 while the median wealth of Black families was a mere $24,100. What’s worse is that this chasm has continued to grow. Between 1983 and 2016, adjusting for inflation, median White wealth increased by 33%, according to...
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