The economic after-effects from the coronavirus pandemic guarantees to affect families throughout the United States and future decades for years to come. The downturn will probably hit African Americans hardest, exacerbating huge, long-standing racial wealth spaces. Because these inequities possess historical roots, looking at how they contribute to intergenerational inequality will help citizens, policymakers, and stakeholders create policies that move the country toward racial collateral.
We cannot start 20, 50, or even a century ago; we need to start. Four hundred years ago, white people trafficked and enslaved African people to build their particular wealth.
Centuries of systemic and structural racism followed, and it was not really until 1865 that the 13th Amendment passed and officially released Black people from bondage. For almost 100 years, Jim Crow laws and regulations and discriminatory practices forced racial segregation and impaired efforts to reduce or eliminate the racial wealth gap.
Limited covenants and redlining avoided Black people from buying homes in many neighborhoods; the Black Codes prohibited many Black people from creating profitable businesses, and white mob violence destroyed the firms of many other Black business owners and being denied entry to better-paying jobs got more difficult for Black family members
to accrue savings to get down payments on homes or accumulate cash about business investments.
Racial Inequities Will Grow Unless We Consciously Work to …. https://www.urban.org/urban-wire/racial-inequities-will-grow-unless-we-consciously-work-eliminate-them