In the years since the 2007 Great Recession, economic commentary has veered between hailing the subsequent recovery and sounding the alarm about rising inequality. Income inequality is often identified as a sign of both the country’s underlying economic troubles and public policies that disproportionately benefit the wealthy. An alternative indicator of the nation’s social and economic health pertains to wealth, specifically the growing wealth gap among people of different races and ethnicities. This report illuminates the racial wealth gap, explores its underlying historical context, discusses some key factors driving the wealth gap, and lays out a set of public policies that could put California and the nation as a whole on a better path to building wealth for millions of families.
To read the report, go to https://calbudgetcenter.org/re...o-shared-prosperity/.