Wealth

Gaps in Wealth

Wealth — the value of family assets — serves as a buffer against poverty and economic downturns.  It offers freedom, resources, and inter-generational transferability. It is also only available to and accumulated by very few people.  As research shows, wealth, more than income, is the true root of poverty and financial/economic inequalities. 

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Life Gaps

Families without wealth reserves are more likely to have to relocate, forego medical treatments, etc.

Research Gaps

Less research has been done on the effects of wealth than income.

Cost-Benefit Considerations

Government incentives to saving and home ownership.

Education about savings.

Access to banking and other investments.

Individuals and Organizations

Organizations

Racial Wealth Audit. (n.d.). Retrieved October 11, 2018, from http://racialwealthaudit.org/
CFSI: Center for Financial Services Innovation. (n.d.). CFSI. Retrieved October 31, 2018, from https://cfsinnovation.org/
Institute on Assets and Social Policy. (n.d.). Retrieved October 11, 2018, from https://heller.brandeis.edu/iasp/
Mission Asset Fund. (n.d.). Mission Asset Fund. Retrieved October 6, 2018, from https://missionassetfund.org/

People

Thomas Piketty - Paris School of Economics. (n.d.). Retrieved September 29, 2016, from http://piketty.pse.ens.fr/en/
Shapiro, Tom | Brandeis University. (n.d.). Retrieved July 5, 2016, from http://www.brandeis.edu/facultyguide/person.html?emplid=f1f37909668ee529ab0c194eecc8c89d6a589fc8
Emmanuel Saez | Prof. of Economics, UC Berkeley. (n.d.). Retrieved September 29, 2016, from http://eml.berkeley.edu/~saez/
Raj Chetty | William A. Ackman Professor of Economics, Harvard University. (n.d.). Retrieved September 29, 2016, from http://www.rajchetty.com/
Conley, Dalton | Sociology | New York University. (n.d.). Retrieved July 5, 2016, from http://sociology.as.nyu.edu/object/daltonconley.html

Resources

Ampudia, M., & Ehrmann, M. (2017). Financial inclusion: what’s it worth? (No. No 1990; Working Paper Series, p. 28). European Central Bank. https://www.ecb.europa.eu//pub/pdf/scpwps/ecbwp1990.en.pdf
Asante-Muhammad, D., Collins, C., Hoxie, J., & Nieves, E. (2016). The Ever-Growing Gap:  Without Change, African-American and Latino Families Won’t Match White Wealth for Centuries. CFED (Corporation for Enterprise Development) and Institute for Policy Studies. http://cfed.org/policy/federal/The_Ever_Growing_Gap-CFED_IPS-Final.pdf
Baradaran, M. (2017). The Color of Money: Black Banks and the Racial Wealth Gap. Harvard University Press.
Baradaran, M. (2018). How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy. Harvard University Press. https://www.amazon.com/How-Other-Half-Banks-Exploitation/dp/0674983963/ref=sr_1_1?ie=UTF8&qid=1541003730&sr=8-1&keywords=how+the+other+half+banks
Bourdieu, P. (1986). The Forms of Capital. In J. Richardson (Ed.), Handbook of Theory and Research for the Sociology of Education.
Conley, D. (n.d.). The Black-White Wealth Gap | The Nation. Retrieved July 5, 2016, from https://www.thenation.com/article/black-white-wealth-gap/
Dunham, I. M., Foster, A., Graves, S., & Masucci, M. (2018). Navigating the Dual Financial Service System: Neighborhood-Level Predictors of Access to Brick-and-Mortar Financial Services. 57, 14.
Eisenberg-Guyot, J., Firth, C., Klawitter, M., & Hajat, A. (2018). From Payday Loans To Pawnshops: Fringe Banking, The Unbanked, And Health. Health Affairs, 37(3), 429–437. https://doi.org/10.1377/hlthaff.2017.1219
Hamilton, D., & Darity, W. (2010). Can ‘Baby Bonds’ Eliminate the Racial Wealth Gap in Putative Post-Racial America? The Review of Black Political Economy, 37(3–4), 207–216. https://doi.org/10.1007/s12114-010-9063-1
Institute for Policy Studies. (n.d.). Wealth Inequality. Inequality.Org. Retrieved September 28, 2016, from http://inequality.org/wealth-inequality/
Jez, S. J. (2010). The differential impact of wealth vs. income in the college-going process. Annual Meeting of the American Education Finance Association (AEFA), Richmond, VA.
Kane, M. (2011, November 14). Skipping Banks: The New World of Prepaid Cards for Victims of High Fees | Alicia Patterson Foundation. http://aliciapatterson.org/stories/skipping-banks-new-world-prepaid-cards-victims-high-fees
Kochhar, R., & Fry, R. (2014). Wealth inequality has widened along racial, ethnic lines since end of Great Recession | Pew Research Center (Fact Tank: News in the Numbers). Pew Research Center. http://www.pewresearch.org/fact-tank/2014/12/12/racial-wealth-gaps-great-recession/
Marks, E., Engelhardt, G., Rhodes, B., & Wallace, I. (n.d.). SEED for Oklahoma Kids:  The Impact Evaluation. 237.
Members of the FDIC Unbanked/Underbanked Survey Study Group. (2016). 2015 FDIC National Survey of Unbanked and Underbanked Households. https://www.fdic.gov/householdsurvey/2015/2015report.pdf
Oliver, M., & Shapiro, T. M. (Eds.). (2006). Black Wealth / White Wealth: A New Perspective on Racial Inequality (2nd edition). Routledge.
Orr, A. J. (2003). Black-White Differences in Achievement: The Importance of Wealth. Sociology of Education, 76(4), 281–304. https://doi.org/10.2307/1519867
Pfeffer, F. T., & Killewald, A. (2015). How Rigid is the Wealth Structure and Why? Inter- and Multi-generational Associations in Family Wealth (Nos. 15–845). Population Studies Center, University of Michigan, Institute for Social Research. http://www.psc.isr.umich.edu/pubs/pdf/rr15-845.pdf
Piketty, T. (2017). Capital in the Twenty-First Century (A. Goldhammer, Trans.; Reprint edition). Belknap Press: An Imprint of Harvard University Press.
Piketty, T. (2015). The Economics of Inequality (A. Goldhammer, Trans.). Belknap Press: An Imprint of Harvard University Press. https://www.amazon.com/Economics-Inequality-Thomas-Piketty/dp/0674504801/ref=sr_1_4?ie=UTF8&qid=1544814833&sr=8-4&keywords=thomas+piketty
Saez, E., & Zucman, G. (2016). Wealth Inequality in the United States Since 1913: Evidence From Capitalized Income Tax Data. The Quarterly Journal of Economics, 131(2), 519–578. http://eml.berkeley.edu/~saez/SaezZucman2016QJE.pdf
Servon, L. (2017). The Unbanking of America: How the New Middle Class Survives (Reprint edition). Mariner Books.
Shapiro, T. M. (2005). The Hidden Cost of Being African American: How Wealth Perpetuates Inequality (1 edition). Oxford University Press.
Sullivan, L., Meschede, T., Dietrich, L., Shapiro, T., Traub, A., Ruetschlin, C., & Draut, T. (2015). The Racial Wealth Gap:  Why Policy Matters. Institute for Assets & Social Policy, Brandeis University; Demos. https://www.demos.org/sites/default/files/publications/RacialWealthGap_1.pdf
Turner, M. A., Santos, R., Levy, D. K., Wissoker, D., Aranda, C., Pitingolo, R., & The Urban Institute. (2013). Housing Discrimination Against Racial and Ethnic Minorities 2012 (p. 190). U.S. Department of Housing and Urban Development, Office of Policy Development and Research.
Vaid, U., & Maxton, A. (2017). The Apparitional Donor: Understanding and Engaging High Net Worth Donors of Color (p. 116). The Advancement Project and The Vaid Group LLC.
Williams, R. B. (2017). Wealth Privilege and the Racial Wealth Gap: A Case Study in Economic Stratification. The Review of Black Political Economy, 44(3), 303–325. https://doi.org/10.1007/s12114-017-9259-8
Yeung, W. J., & Conley, D. (2008). Black-White Achievement Gap and Family Wealth. Child Development, 79(2), 303–324. http://www.jstor.org/stable/27563485
Reimagining Financial Inclusion. (n.d.). Retrieved December 14, 2018, from http://www.ideas42.org/wp-content/uploads/2015/11/Reimagining-Financial-Inclusion-Final-Web-1.pdf

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