Giving Compass’ Take:
• In this report, the authors outline three categories of solutions that can bridge the racial wealth divide: Programs, power, and progress. The clear action items are intended to “dramatically reduce” the racial wealth divide that has long existed.
• Where has philanthropy been successful in addressing inequality and how can these 10 solutions drive greater change?
• Read about how philanthropists can impact wealth inequality.
The deep and persistent racial wealth divide will not close without bold, structural reform. It has been created and held in place by public policies that have evolved over time including slavery, sharecropping, Jim Crow, white capping, red lining, mass incarceration, and predatory subprime lending among many others. The racial wealth divide is greater today than it was nearly four decades ago, and trends point to its continued widening.
In this report, we offer 10 bold solutions broken into three categories: Programs, Power and Process. These solutions are designed to strike at the structural underpinnings holding the racial wealth divide in place while inspiring activists, organizers, academics, journalists, legislators and others to think boldly about taking on this incredibly important challenge.
This summary outlines the 10 solutions, gives a snapshot of the latest racial wealth divide data, and offers a warning against false solutions.
Read the full report on bridging the racial wealth divide by Chuck Collins, Darrick Hamilton, Dedrick Asante-Muhammad, and Josh Hoxie at Inequality.
This research into the racial wealth divide has contributed to increasing public understanding of just how deeply divided our economy and society is today.