Political History

Black Wealth / White Wealth: A New Perspective on Racial by Melvin Oliver, Thomas M. Shapiro

By Melvin Oliver, Thomas M. Shapiro

The award-winning Black Wealth / White Wealth offers a robust portrait of racial inequality in keeping with an research of personal wealth. Melvin Oliver and Thomas Shapiro's groundbreaking study analyzes wealth - overall resources and accounts instead of source of revenue by myself - to discover deep and protracted racial inequality in the USA, and so they exhibit how public guidelines have didn't redress the problem.

First released in 1995, Black Wealth / White Wealth is taken into account a vintage exploration of race and inequality. It supplied, for the 1st time, systematic empirical proof that defined the racial inequality hole among blacks and whites. The 10th Anniversary variation comprises fullyyt new and major chapters. those chapters examine the continued problems with wealth and inequality in the United States and the hot regulations which have been introduced long ago ten years. a few were revolutionary whereas others in basic terms recreate inequality - for instance the thought to get rid of the property tax.

Compelling and likewise informative, Black Wealth / White Wealth is not only pioneering examine. it's also a strong counterpoint to arguments opposed to affirmative motion and a right away problem to present social welfare rules which are tilted in the direction of the wealthy.

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Additional resources for Black Wealth / White Wealth: A New Perspective on Racial Inequality, 2nd Edition

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The amount of land involved was substantial, a total of forty-six million acres. Applicants in the first two years of the Homestead Act were limited to only 80 acres, but subsequently this amount increased to 160 acres. The Freedmen’s Bureau administered the program, and there was every reason to believe that in reasonable time slaves would be transformed from farm laborers to yeomanry farmers. This social and economic transformation never occurred. ”3 Indeed, features of the legislation worked against its use as a tool to empower blacks in their quest for land.

If money derived from wealth is used to purchase significant ownership of the means of production, it can bring authority to the holder of such wealth. Substantial wealth is important also because it is directly transferable from generation to generation, thus assuring that position and opportunity remain in the same families’ hands. Command over resources inevitably anchors a conception of life chances. While resources theoretically imply both income and wealth, the reality for most families is that income supplies the necessities of life, while wealth represents a kind of “surplus” resource available for improving life chances, providing further opportunities, securing prestige, passing status along to one’s family, and influencing the political process.

Social theorists from Karl Marx to Max Weber to Georg Simmel have stressed the bedrock theoretical significance of wealth. ”40 Income and wealth resemble one another in some respects and differ in others. One undergoes continuous and extensive examination, while the other encounters only a rare surface scratching. Kerbo elaborates some of the ways in which wealth is significant, beyond providing income. Most people use income for day-to-day necessities. Substantial wealth, by contrast, often brings income, power, and independence.

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