Monday, May 3, 2010
Income between races is closer than ever before. However net worth between the races have a greater gap between them. The reason for that is because wealth is inherited through historical transfer. When one look at history the net worth of white people and black people never the same. What that mean is white people as a race had a two to three hundred years head start. When white were accumulating wealth black did not earn nothing because they were exploited in slavery. One example that can show the transfer of wealth is for example the great great grandfather of an African American they both were around in the time of slavery, while the black grand dad was earning nothing as a slave the white man was at least earning more what that means is later the white man can transfer a known family net worth and the black man did not transfer nothing to his future family. Which later create the gap between net worth between races.