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Abstract

Racial wealth inequity between Whites and people of color, particularly Black and Latino Americans, is one of the most pressing social and economic issues in the United States, historically and at present. The magnitude of the racial wealth gap is immense and deeply entrenched, and the scale of racial inequities in wealth has changed very little in recent times. Without radical changes, at the current rate of growth, the wealth gap between Whites, compared to Black and Latino families will be over one million dollars by 2044. Considering the shifting demographics of the U.S., including projections that indicate that the majority of the U.S. population will be composed of people of color by 2040, it is even more critical to investigate different approaches to address racial wealth inequities. This paper aims to provide a historical transdisciplinary understanding of racial wealth inequality. In addition, we highlight key takeaways provided by panelists in the Race at the Forefront in Social Policy section of the Collaboration on Race, Inequality, and Social Mobility in America (CRISMA)’s inaugural conference to light the path forward.

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