Showing results for "The Science of Wealth" in Social Classes & Economic Disparity

In The Racial Wealth Gap, Baradaran outlines two tectonic forces that have driven apart the economic fortunes of white and Black families: wealth creation for white Americans, who have been systematically receiving financial subsidies in the century and a half since emancipation, and wealth destruction for Black Americans—either by vigilante violence or by official means, such as allowing Black banks to collapse or building highways through segregated Black communities.

For decades, a secret army of tax attorneys, accountants, and wealth managers has been developing into the shadowy Wealth Defense Industry. These "agents of inequality" are paid millions to hide trillions for the richest 0.01 percent.

Capital is the defining feature of modern economies, yet most people have no idea where it actually comes from. What is it, exactly, that transforms mere wealth into an asset that automatically creates more wealth? The Code of Capital explains how capital is created behind closed doors in the offices of private attorneys, and why this little-known fact is one of the biggest reasons for the widening wealth gap between the holders of capital and everybody else.

The US racial wealth gap is large, and it's compounding. It's time to close it. Minding the Wealth Gap shines a light on people doing this important work and explores how you can get involved too. Generations of public and private practices have left Black households $15 trillion and 400 years behind white households. Minding the Wealth Gap is both a powerful catalyst and a call to arms, urging America's entrepreneurs, executives, government officials, and other leaders to join these efforts and take meaningful steps toward a more equitable future for all.

Understanding wealth in the United States - who has it, how they acquired it, and how they preserve it - is crucial to addressing the economic and political challenges facing the nation. But until now we have had little reliable information. Edward Wolff, one of the world's great experts on the economics of wealth, offers an authoritative account of patterns in the accumulation and distribution of wealth since 1900. A Century of Wealth in America demonstrates that the most remarkable change has been the growth of per capita household wealth.

Since the Great Recession, most Americans' standard of living has stagnated or declined. Economic inequality is at historic highs. But inequality's impact differs by race; African Americans' net wealth is just a 10th that of White Americans, and over recent decades, White families have accumulated wealth at three times the rate of Black families. In our increasingly diverse nation, sociologist Thomas M. Shapiro argues, wealth disparities must be understood in tandem with racial inequities - a dangerous combination he terms "toxic inequality".