Federal Wealth Policies in Support of Jim Crow

2017 ◽  
Vol 11 (2) ◽  
Author(s):  
Robert B. Williams
Keyword(s):  
Political Economy ◽  
Jim Crow ◽  
Survey Of Consumer Finances ◽  
Systemic Racism ◽  
Racial Wealth Gap ◽  
Consumer Finances ◽  
Wealth Gap ◽  
Critical Aspects ◽  
Do So ◽  
Taxation Data

Recognizing the specific ways that systemic racism has and continues to function in our society is essential to developing a political economy that effectively examines contemporary problems and issues, whatever they may be. To do so, this paper identifies key elements of an anti-racist perspective and uses them to illuminate critical aspects of our racial wealth gap. Given the nature of wealth – its inherent durability and transferability across generations – this paper demonstrates how the current racial wealth gap is the result of past wealth policies that privileged whites. Further, it demonstrates how our current wealth policies are not simply encouraging the concentration of wealth among the 1 percent, but also recreating a system of racial segmentation. In a time in which overtly racialized policies and laws are often illegal, our wealth policies now function as a modern version of past Jim Crow laws and norms. This paper relies on the Survey of Consumer Finances and Joint Committee on Taxation data to document its claims.

scholarly journals The Political Economy of Education, Financial Literacy, and the Racial Wealth Gap

Review ◽  
2017 ◽  
Vol 99 (1) ◽  
pp. 59-76 ◽  
Author(s):  
Darrick Hamilton ◽  
◽  
William A. Darity
Keyword(s):  
Political Economy ◽  
Financial Literacy ◽  
The Political ◽  
Racial Wealth Gap ◽  
Wealth Gap

scholarly journals The African-American Financial Services Market: Profiling The Substantiality And Viability Of An Underserved Segment

2011 ◽  
Vol 2 (2) ◽  
Author(s):  
Thomas H. Stevenson ◽  
D. Anthony Plath
Keyword(s):  
African American ◽  
Financial Services ◽  
Investment Portfolio ◽  
Survey Of Consumer Finances ◽  
Black And White ◽  
Consumer Finances ◽  
Portfolio Composition ◽  
The Difference ◽  
The U.S ◽  
Do So

The purpose of this study is to help marketers recognize, understand and respond to the underserved African-American financial services market in the U.S. To do so, the study examines demographic trends and financial consumption patterns of African-American consumers, drawing on the most recent Survey of Consumer Finances to explore the principal differences between black and white households asset holdings and financial product and service preferences. Findings indicate that the African-American market has grown rapidly in size and viability over the past decade, and that African-American consumers differ markedly from their white counterparts in terms of financial product preferences and investment portfolio composition. The difference between the two segments is especially evident in the case of relatively more risky, but higher return, financial products. Based on these findings it is apparent that marketers should endeavor to reach this increasingly attractive but underserved segment of the U.S. financial services marketplace.

scholarly journals Predatory Inclusion and Education Debt: Rethinking the Racial Wealth Gap

2019 ◽  
Author(s):  
Louise Seamster ◽  
Raphaël Charron-Chénier
Keyword(s):  
Racial Inequality ◽  
Wealth Inequality ◽  
Racial Groups ◽  
Survey Of Consumer Finances ◽  
Racial Wealth Gap ◽  
Consumer Finances ◽  
Educational Debt ◽  
Blacks And Whites ◽  
Education Debt

Analyses of the recent surge in racial wealth inequality have tended to focus on changes in asset holdings. Debt patterns, by contrast, have remained relatively unexplored. Using 2001-2013 data from the Survey of Consumer Finances (SCF), we show that after peaking in 2007, debt levels for most debt types had returned to pre-financial crisis levels for blacks and whites by 2013. The primary exception to this is education debt, on which this paper focuses. We show that educational debt has increased substantially for blacks relative to whites in the past decade. We also show that this increase in debt is not attributable to differences in educational attainment across racial groups. These trends, we argue, reflect a process of predatory inclusion, where lenders and financial actors offer needed services to black households, but on exploitative terms that limit or eliminate their long-term benefits. Predatory inclusion, we propose, is one of the mechanisms behind the persistence of racial inequality in contemporary markets.

Fatalistic Tendencies: An Explanation of Why People Don't Save

2005 ◽  
Vol 4 (1) ◽  
Author(s):  
Stephen Wu
Keyword(s):  
World Values Survey ◽  
Household Savings ◽  
Behavioral Factors ◽  
Survey Of Consumer Finances ◽  
Savings Behavior ◽  
Consumer Finances ◽  
Cross Country ◽  
And Control ◽  
Do So

Abstract This paper uses data from the 2001 Survey of Consumer Finances (SCF) and the 2000 World Values Survey (WVS) to analyze the role of fatalism in determining household savings behavior. SCF respondents who feel that luck has played an important role in their financial affairs are more likely to realize their need to save, but are less likely to actually do so. Cross-country evidence from the WVS shows that those who believe they have little freedom and control over their lives are also less likely to save. The results hold after controlling for a number of demographic and behavioral factors, and are consistent across income and wealth levels.

Do Financial Support and Inheritance Contribute to the Racial Wealth Gap?

2012 ◽  
Author(s):  
Signe-Mary McKernan ◽  
Caroline Ratcliffe ◽  
Margaret Simms ◽  
Sisi Zhang
Keyword(s):  
Financial Support ◽  
Racial Wealth Gap ◽  
Wealth Gap

Sociospatial Transformations in the ‘Postsocialist’ Periphery: The Case of Maputo, Mozambique

1995 ◽  
Vol 27 (9) ◽  
pp. 1463-1491 ◽  
Author(s):  
J D Sidaway ◽  
M Power
Keyword(s):  
Political Economy ◽  
Built Environment ◽  
Third World ◽  
Development Project ◽  
Economic Consequences ◽  
Capital City ◽  
The Political ◽  
Economic Changes ◽  
Portuguese Colonialism ◽  
Do So

As Mozambique was one of a number of Third World states that embraced Marxism-Leninism during the 1970s, the establishment and subsequent collapse of a socialist development project since independence in 1975 has had profound social, political, and economic consequences. Against these contexts, and through a chronological account which begins with the impacts of Portuguese colonialism and Mozambican nationalist responses, we analyse the contradictory impact of political and economic changes accompanying colonialism, independence, attempted socialist transformation, and the end of socialism in Mozambique as they are mediated through the built environment of the Mozambican capital city of Maputo. The combined political, social, and cultural facets within these transformations and continuities are evident throughout the account and we specify some of the ways in which these are intertwined with the political economy of urbanization. In the conclusion we reconsider what the changing trajectory of Maputo represents in global and comparative terms. We do so with reference to debates about the changing forms of international capitalist regulation and the reconfiguration of dependency.

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