New study reveals nuanced story behind wealth disparity across racial and ethnic groups in L.A.
“Data that truly reflect the diverse and emerging patterns of wealth inequality across specific ethnic and racial groups has been hard to come by,” said William “Sandy” Darity, co-author and director of the Samuel DuBois Cook Center on Social Equity at Duke. “The patterns we were able to document may well be the first in-depth study of wealth, ethnicity and race in Los Angeles, especially for Mexicans and particular Asian national-origin groups.”
Although much of the inequality discourse has focused on income, wealth is a better indicator of economic well-being and metric for understanding economic inequality. The accumulation of wealth is more likely to ensure financial security and opportunity for American families in the future, the authors said.