Black Wealth In America Summary

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This book written by Melvin L. Oliver and Thomas M. Shapiro, addresses the following question: What will an examination of the black middle class, compared to the white middle class, reveal, in terms of economic stability and distribution of wealth? The authors answer this question in seven chapters. Using different studies, statistics, and history, this book conducts a socioeconomic comparison of the two races in America. The book begins with the history of blacks in America during the period of reconstruction after the Civil War. It states that blacks went directly from being slaves, to being freedmen without reparations. They were entering American society with little money and no material assets, this set a foundation of inequality and uneven distribution of wealth between the races from the beginning. This …show more content…

The black middle class is far behind the white middle class in terms of properties and assets that can create more opportunities for their given groups and for generations to come. Oliver and Shapiro put emphasis on statistics that portray gaps between the black middle class and white middle class. They argue that wealth in America is unevenly distributed, unfair, and in favor of whites. Black Wealth/ White Wealth gives us important information about the causes of American racial inequality. They prove that institutionalized racism through government policies helped increase wealth for whites over blacks, at the same time discrimination towards black people kept them from gaining wealth. They include a variety of studies conducted by other sociologists to show evidence for their main argument, for example a previous study shows that black households earn less than two thirds as much of the average white household, and that an average black person possesses eight to nineteen dollars for every one hundred dollars whites

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