John Hunt, Manhattan Institute
Allison Schrager, City Journal
Wealth disparities among racial groups in America are caused by multiple factors, including differences in education and income and a legacy of discrimination. But distinctions in risk-taking and tolerance are also important, persistent—and often overlooked. The Federal Reserve Board recently released its triannual Survey of Consumer Finances, the most comprehensive snapshot of American household balance sheets. Each report offers a sober reminder of the wealth differences between black and white households in the United States. Median net worth among white households is $181,000; for black households, it is just $20,700. Read more here....
James Pethokoukis | AEIdeas
Brent Orrell and Matthew Leger | RealClearPolicy