For African Americans Hard Work and College Don’t Close the Racial Wealth Gap

Friday, December 9, 2016
The Huffington Post

Attorney Antonio Moore interviews one of the leading structural economists in the nation, Prof. William A. Darity of Duke University discussing Darity’s recent studies on the racial wealth gap. In the discussion Darity makes clear that Blacks cannot close the racial wealth gap without intense government intervention through several solutions of the type he has provided. He also dispels the myth of learning about wealth tools as the key to one day getting closer to acquiring wealth. In addition Black celebrities such as Jay-Z, Tracee Ellis-Ross, and Stephen Curry are discussed. With a focus on what Moore has coined the “Decadent Veil”, and how million dollar entertainers effect how African Americans set goals.

“We overstate the value of education for the purposes of economic gain, as opposed to the intrinsic value that’s associated with having a more skeptical mind, being better informed, being a critical thinker. ... It’s completely desirable to get additional education. But do not have the expectation that doing that will change the relative position of black folks in comparison to white folks. We have to do something much more dramatic, that’s much more transformative. In a sense the capacity to close these kinds of gaps is not within the hands of black folks to do without there being social policy changes, policy support, or transformations in this society. We can’t do it by ourselves.”  William A. Darity Samuel DuBois Cook Professor of Public Policy at Duke University.

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