Study: It’s Racist to Teach Students Financial Literacy
The paper, written by Duke’s William A. Darity and the New School’s Darrick Hamilton, argues that financial-literacy courses presume that the problem is simply that students of color lack of financial responsibility or financial knowledge.
“The problem with this language is the implicit notion that the racial wealth gap is a matter of financial literacy, choice and agency, as opposed to inheritance as structure. … Ultimately, by defining the central problem facing the Black community, as not the deep- seated structures that perpetuate racism and inequality, but, rather, deficiencies internal to Blacks themselves, the focus of policy becomes the rehabilitation of the Black family,” write Darity and Hamilton.
The real problem, Darity and Hamilton argue, is that too many black and Hispanic students begin at a disadvantage; they’re poor, and without money, and so financial-literacy programs are irrelevant.
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