OUR COMMON GROUND with Janice Graham
“The Metrics of Black Wealth”
Guest: Dr. William A. (“Sandy”) Darity, Jr., Ph.D.
December 17, 2016 :: LIVE :: 10 pm EST
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WE can’t save, educate or job income ourselves out of the economic and financial history from which our poverty springs.
Structural and historical inequality has left Blacks with fewer assets than whites. Blacks in the top 10 percent have an average wealth of only $350,000 to the $1,200,000 of whites at the same income level. Across income groups, whites average $8 of wealth for every $1 owned by Blacks and Latinos.We need to devise wholly new approaches to wealth distribution that at once honor private property and family rights, while also putting to better use collective national assets. We need inheritance law reform and new taxes on larger estates that can enable reinvestment in emerging new talent.
What are the metrics which dictate, demonstrate and evidence our collective poverty ?
about Dr. Darity
- Samuel DuBois Cook Professor of Public Policy
- Professor in the Sanford School of Public Policy
- Professor of African and African American Studies
- Professor of Economics
- Affiliate of the Duke Initiative for Science & Society
- Affiliate of the Center for Child and Family Policy
AREAS OF EXPERTISE
- Educational Policy
- Educational Inequality
- Segregation in Education
- Student Achievement
- Racial Discrimination
- Racial Identity
- Wealth-United StatesIncome
Ph.D., Massachusetts Institute of Technology (1978)
B.A., Brown University (1974)
He is the Samuel DuBois Cook Professor of Public Policy, African and African American Studies, and Economics and the director of the Duke Consortium on Social Equity at Duke University. He has served as chair of the Department of African and African American Studies and was the founding director of the Research Network on Racial and Ethnic Inequality at Duke.
In collaboration with Dr. Darrick Hamilton of the New School for Social Science Research, Dr. Darity formulated proposed an “interesting possible solution to address wealth disparities,” according to this Huffington Post blog. “Baby bonds” would mature in federally managed investment accounts until the beneficiary reached 18. Youth could have up to $60,000 to jumpstart their lifelong financial stability and help decrease wealth disparity in the U.S.
The The National Asset Scorecard and Communities of Color (NASCC) project is conducted by Duke University’s Research Network on Racial and Ethnic Inequality. The researchers are led by William Darity, Jr, at Duke University and Darrick Hamilton at The New School. The NASCC research team – with expertise in survey design, analysis of group differences in asset accumulation and debt burden, and general patterns of ethnic/racial group inequality, – was assembled to conduct the investigation and analyze the data generated from the study. The study is intrinsically multidisciplinary; members of the team represent the following fields: statistics, economics, sociology, political science, ethnic studies,and urban planning. NASCC published its landmark report, ” Umbrellas Don’t Make it Rain: Why Studying and Working Hard Isn’t Enough for Black Americans ” of which Dr. Darity is a co-author.
HOW DO WE BEGIN TO FIGHT THE POWER ?