From Race, Wealth, and Intergenerational Poverty in The American Prospect:
"Economic studies also demonstrate that inheritances, bequests, and intra-family transfers account for more of the racial wealth gap than any other demographic and socioeconomic factor, including education, income, and household structure. These intra-familial transfers, the primary source of wealth for most Americans with positive net worth, are transfers of blatant non-merit resources. Why do blacks have vastly fewer resources to leave to the next generation?
Apart from the national failure to endow ex-slaves with the promised 40 acres and a mule after the Civil War, blacks were deprived systematically of property, especially land, accumulated between 1880 and 1910 by government complicity and fraud as well as seizures by white terrorists. During the first three decades of the 20th century, white rioters destroyed prosperous black communities from Wilmington, North Carolina, to Tulsa, Oklahoma. Restrictive covenants, redlining, and general housing and lending discrimination also inhibited blacks from accumulating wealth." [bold emphasis mine]
Remember this post, during the longest election cycle of the year? (And the one I wrote about the lynching exhibition?)
This connects to that. The dots are so easy to connect once you know what they look like.