Can ‘Baby Bonds’ Eliminate the Racial Wealth Gap in Putative Post-Racial America?
Rent the article at a discountRent now
* Final gross prices may vary according to local VAT.Get Access
Despite an enormous and persistent black-white wealth gap, the ascendant American narrative is one that proclaims that our society has transcended the racial divide. The proclamation often is coupled with the claim that remaining disparities are due primarily to dysfunctional behavior on the part of blacks. In such a climate it appears the only acceptable remedial social policies are those that are facially race neutral. However, even without the capacity to redistribute assets directly on the basis of race, our nation still can do so indirectly by judiciously using wealth as the standard for redistributive measures. We offer a bold progressive child development account type program that could go a long way towards eliminating the racial wealth gap.
- Bates T. Race, self-employment, and upward mobility. Washington, DC: The Woodrow Wilson Center; 1997.
- Blau F, Graham J. Black white differences in wealth and asset composition. Q J Econ. 1990;105(2):321–39. CrossRef
- Bogan V, Darity Jr W. Culture and entrepreneurship? African American and immigrant self-employment in the United States. J Socio Econ. 2008;37:1999–2019. CrossRef
- Bucks BK, Kennickell AB, Mach TL, Moore KB. Changes in U.S. family finances from 2004 to 2007: evidence from the survey of consumer finances. Fed Reserve Bull. 2009;95:A1–55.
- Chiteji N, Hamilton D. Family connections and the black-white wealth gap among the middle class. Rev Black Polit Econ. 2002;30(1):9–27. CrossRef
- Corporation for Enterprise Development. Hidden in plain sight: A look at the $335 billion federal asset building budget. Washington, DC: Corporation for Enterprise Development; 2004.
- Darity Jr W. Stratification economics: the role of intergroup inequality. J Econ Finance. 2005;29(2):144–53. CrossRef
- Darity Jr W. Forty acres and a mule in the 21st century. Soc Sci Q. 2008;89(3):656–64. CrossRef
- Darity Jr W, Frank D. The economics of reparations. Am Econ Rev. 2003;93(2):326–9. CrossRef
- Darity Jr W, Hamilton D. Bernanke Ignore History of Black and White Wealth Rift. The Grio; October 30, 2009.
- Gittleman M, Wolff EN. Racial differences in patterns of wealth accumulation. J Hum Resour. 2004;39(1):193–227. CrossRef
- Hamilton D, Darity W, Jr. Race, wealth, and intergenerational poverty: There will never be a post-racial America if the wealth gap persists. The American Prospect; 2009.
- Heflin CM, Pattillo M. Kin effects on Black-White account and home ownership. Sociol Inq. 2000;72(2):220–39. CrossRef
- Institute on Race and Poverty, University of Minnesota. Communities in crises: Race and mortgage lending in the twin cities. Report; 2009.
- Johnson C. The end of the Black American narrative. The American Scholar; 2008.
- John-Hall A. Race still matters in Obama’s post-racial U.S. The Philadelphia Inquirer; 2009.
- Katznelson I. When affirmative action was white. New York: W.W. Norton and Company; 2005.
- Kochhar R. The wealth of hispanic households. Washington, DC: Pew Hispanic Center; 2004.
- Menchik P, Jianakoplos NA. Black-White wealth inequality: is inheritance the reason? Econ Inq. 1997;35(2):428–42. CrossRef
- New York Times. February 4, 2009. Adding up the government’s total bailout tab.
- Nopper T. Colorblind Racism and Institutional Actors’ Explanations of Korean Immigrant Entrepreneurship. Critical Sociology. 2010;36:65–85.
- Oliver M, Shapiro T. Black wealth/White wealth. 2nd ed. New York: Routledge; 2006.
- Sherraden M. Assets and the poor: A new American welfare policy. Armonk: Sharpe; 1991.
- Sherraden M. Individual development accounts and policy. In: Blank RM, Barr M, editors. Insufficient funds: Savings, assets, credit, and banking among low-income households. New York: Russell Sage Foundation; 2009.
- Ackerman B, Alstot A. The Stakeholder Society. New Haven: Yale University Press; 1999.
- Can ‘Baby Bonds’ Eliminate the Racial Wealth Gap in Putative Post-Racial America?
The Review of Black Political Economy
Volume 37, Issue 3-4 , pp 207-216
- Cover Date
- Print ISSN
- Online ISSN
- Additional Links
- Racial wealth gap
- Post Racial America
- Child development accounts
- Industry Sectors
- Author Affiliations
- 1. The Milano Graduate School, Urban Policy, Department of Economics, Schwartz Center for Economic Policy Analysis, The New School, 72 Fifth Avenue, New York, NY, 10011, USA
- 2. African and African-American Studies and Economics, Sanford School of Public Policy, Duke University, Box 90239, Durham, NC, 27708-0239, USA