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Showing posts from August, 2016

The Age of Inequality

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This post is a continuation of the previous one and is a result of some questions that I have received. It is quite astonishing that a glaring divide exists between our ideals, our beliefs, and the grim reality. Chauncey Alcom, writing in Fortune yesterday quotes a thirty-year research study (1983 - 2013) of the Corporation for Enterprise Development and Institute for Policy Studies to show that Black families in America would need hundreds of years to amass the same amount of wealth that whiteshave now. The study concludes that the average wealth of white families has grown by 84% - three times the rate of African-American families and 1.2 times as fast as Latino-American families. Juxtapose this statistic with the projection that whereas Americans of color will outnumber white Americans by 2043, the wealth divide is expected to double by the same year. A 2015 study of global wealth by Allianz called America the "Unequal States of America" for its position as the country w…