Analysis: The Racial Wealth Gap
The Racial Wealth Gap
The racial wealth gap consists of the wealth and asset differences between the majority race groups: Whites, Blacks, and Latino. In Forbes Magazine, there’s an article written by an author named, Laura Shin, about how white people have a more advantaged at obtaining more household wealth than other races. This article helps shine light on the difference in the levels of wealth acquired by different races. In this paper, I will be connecting conflict theories and wealth inequality together. Conflict theories will further help why we normally differentiate between races and social classes based on how much someone has in their pockets. Wealth inequality will guide the reason behind why privileged classes own a lot of assets …show more content…
In the article, it’s mentioned that a normal black household would accumulate only “6% of the wealth of the typical white household…” (Shin, 2015). Shin also added that the (2015), “typical Latino household has just 8%.” Other races were not mentioned as much as Blacks, Whites, or Latino because of that certain race’s population size. The three main factors that displayed significant differences were homeownership, education, and the labor market. In these categories, there are charts displayed where it shows the percentage variance among the races. White Americans are dominantly seen in these charts to be higher than the other races.
Conflict theory deals with power that individuals manipulate to either get what they want or help others in need. This theory claims that inequality is harmful to societies and cause trouble among humans; there are underlying conflicts between the interests and needs of the powerful. The conflict theory also pertains to society consisting “of conflicting interests, but only some groups have the power and resources to realize their interests.”(Chambliss, & Eglitis, 2014, p. 16) In this article, there couple of examples where one race may …show more content…
Wealth helps us face value “how U.S families are doing relative to one another in terms of security, opportunities, and prospects.”(Chambliss, & Eglitis, 2014, p. 165) When wealth is spoke about, we as people, get to see who has a chance to do well and who doesn’t at all. In the article, Shin speaks about how the labor markets are responsible for a huge increase in the racial wealth gap. The increase of wealth inequality among races is significant. The typical white family earns about $50,000, whereas the “typical black family earns $32,038, and the typical Latino family, $36,840.”(Shin,
The racial wealth gap consists of the wealth and asset differences between the majority race groups: Whites, Blacks, and Latino. In Forbes Magazine, there’s an article written by an author named, Laura Shin, about how white people have a more advantaged at obtaining more household wealth than other races. This article helps shine light on the difference in the levels of wealth acquired by different races. In this paper, I will be connecting conflict theories and wealth inequality together. Conflict theories will further help why we normally differentiate between races and social classes based on how much someone has in their pockets. Wealth inequality will guide the reason behind why privileged classes own a lot of assets …show more content…
In the article, it’s mentioned that a normal black household would accumulate only “6% of the wealth of the typical white household…” (Shin, 2015). Shin also added that the (2015), “typical Latino household has just 8%.” Other races were not mentioned as much as Blacks, Whites, or Latino because of that certain race’s population size. The three main factors that displayed significant differences were homeownership, education, and the labor market. In these categories, there are charts displayed where it shows the percentage variance among the races. White Americans are dominantly seen in these charts to be higher than the other races.
Conflict theory deals with power that individuals manipulate to either get what they want or help others in need. This theory claims that inequality is harmful to societies and cause trouble among humans; there are underlying conflicts between the interests and needs of the powerful. The conflict theory also pertains to society consisting “of conflicting interests, but only some groups have the power and resources to realize their interests.”(Chambliss, & Eglitis, 2014, p. 16) In this article, there couple of examples where one race may …show more content…
Wealth helps us face value “how U.S families are doing relative to one another in terms of security, opportunities, and prospects.”(Chambliss, & Eglitis, 2014, p. 165) When wealth is spoke about, we as people, get to see who has a chance to do well and who doesn’t at all. In the article, Shin speaks about how the labor markets are responsible for a huge increase in the racial wealth gap. The increase of wealth inequality among races is significant. The typical white family earns about $50,000, whereas the “typical black family earns $32,038, and the typical Latino family, $36,840.”(Shin,