Scholars Reveal Gaping Black/White Wealth Disparity in D.C.

Tuesday, November 1, 2016
Diverse Issues in Higher Education

Dr. William A. Darity is primary investigator for the report and the Samuel DuBois Cook Professor of Public Policy at Duke University
William A. Darity is a primary investigator for the report, Director of the Samuel DuBois Cook Center on Social Equity, and the Samuel DuBois Cook Professor of Public Policy, African and African American Studies, and Economics at Duke University.

"Citing a series of policies and practices that have historically stripped Black people in the nation’s capital of the ability to accumulate wealth, a bevy of scholars presented groundbreaking data Tuesday that shows disturbing disparities between the net worth of Black and White dwellers in the city."

"The typical White household in Washington, D.C., in 2013 and 2014 had a net worth of $284,000 — a whopping 81 times greater than that of the typical Black household in the city, which had a net worth of $3,500, according to the report, “The Color of Wealth in the Nation’s Capital.”

"The report transcends the typical Black-White dynamic in that it drills down on the data to give a more granular picture of wealth in Washington by the race and ethnicity of several groups and even subgroups. It also shines light on the role that things that range from higher education to homeownership do or don’t do to help people to achieve socioeconomic equity. The scholars chose to focus on wealth — not income — because it provides a more meaningful picture of who has assets that can be converted into cash if need be versus who is saddled with debilitating debt."

“'We argue that research that emphasizes income or occupational stature or education will be inadequate if it doesn’t pay attention to wealth position in households,'” said William A. Darity, a primary investigator for the report, Director of the Samuel DuBois Cook Center on Social Equity, and the  the Samuel DuBois Cook Professor of Public Policy, African and African American Studies, and Economics at Duke University."

Read the full article: http://diverseeducation.com/article/88794/