The reading investigates the growing pay gap between Blacks and Whites and the US, as well as possible explanation for this financial inequality. Shapiro (2007) proves that being Black in the US accumulates in societal costs of around $140. I find this evidence convincing since race has a literal price that oppressed minorities have to pay, and this discrimination indicates oppression in the modern capitalistic society.
Wealth of a Nation
The research assesses the financial inequality that is present among African American families. The authors argue that even when a Black and White person earn the same salary, their wealth is different due to racial implications (Oliver & Shapiro, 1990). These findings highlight the previously proven social and cultural oppression and show that racism is a structural problem that is extremely hard to address.
Wealth Gap Between Minorities and White Americans Doubles After Housing Crisis, Recession
The speaker evaluates the accumulative wealth of Blacks, Hispanics, and Whites in America and arrives to the conclusion that race plays a role in financial burdens that many people of color experience. Harrison (2011) appeals to the research that discovered that unlike Whites, marginalized Blacks and Hispanics rely more on housing, which makes them more vulnerable to economic discrimination. I find this evidence valuable in the fight for equality as people of color are often perceived as responsible for their economic despair, while the White dominant system is to blame.
Twenty-to-One
The report examines the pay gap between races and provides some statistical evidence for the socioeconomic inequality. Pew Research (2011) reviews cross-racial wealth and income throughout the 20-year period and claims that since people of color base their wealth on housing, recession of 2006 caused the socioeconomic gap to double. The case of the crisis affecting marginalized people more than others shows that current social support and government protection fail to address the reality of latent discrimination.
Groundings with My Brothers: Commentaries
The commentaries of the book overview its contents and the author’s influence on the Black Power movement today. The personal story of Austin reflects how Rodney (2020) inspired Blacks worldwide to explore their history, culture, and rediscover their power. I find this commentary and the book overall extremely influential in terms of addressing one’s heritage and reviving the nation’s pride in the fight for freedom.
References
Harrison, R. (2011). Wealth gap between minorities and white Americans doubles after housing crisis, recession. The War and Peace Report.
Oliver, M. L. & Shapiro, T. M. (1990). Wealth of a nation: A reassessment of asset inequality in america shows at least one third of households are asset-poor. The American Journal of Economics and Sociology, 49(2).
Pew Research. (2011). Twenty-to-one: Wealth gaps rise to record highs between whites, blacks and hispanics. Pew Research Center.
Rodney, W. (2019). Groundings with My Brothers. Verso Books.
Shapiro, T. (2007). Transformative Assets, the Racial Wealth Gap and the American Dream. McGraw Hill.