Liberating communities from debt

Wednesday, December 9, 2015
The St. Louis American

Economists Darrick Hamilton and Ngina Chiteji have shown that the share of families with parents who cannot make ends meet is higher for middle-class black families. Hamilton and Chiteji demonstrate that having parents who are struggling to get ahead and siblings whose economic circumstances are similarly precarious can in part explain the nearly $100,000 difference in wealth between blacks and whites. Middle-class Black families in their study suffered nearly 27 percent reduction in their wealth relative to white families as a result of the kin networks into which they were born.

Read more: