Why passing on wealth requires strategy

In 'The Hidden Cost of Being African American', Thomas M. Shapiro examines the role of family wealth in perpetuating racial inequality. He argues that wealth disparities significantly hinder social mobility for African Americans, while benefiting white families. The book is based on interviews with families in Boston, Los Angeles, and St. Louis, highlighting the substantial racial wealth gap in the U.S.

Mehrsa Baradaran's "The Color of Money" provides a comprehensive analysis of the historical and ongoing challenges faced by Black banks in the United States. The book explores how discriminatory lending practices, redlining, and economic segregation have created and perpetuated the racial wealth gap. Baradaran examines the role of Black banks in providing financial services to underserved communities and their struggles for survival in a systemically biased environment. The book offers insights into the systemic nature of racial inequality and proposes potential solutions for addressing the racial wealth gap. It's a crucial read for understanding the complex interplay between race, finance, and economic justice.