CLOSING THE RACIAL WEALTH GAP
Black Girls Wealth was founded to continue the ongoing initiative for Economic Justice- evolving each generation.
Ensuring equitable economic outcomes for Black girls in America. “Patently, wealth is far more unequally distributed than income. While income primarily is earned in the labor market, wealth is built primarily by the transfer of resources across generations”
“We challenge the conventional set of claims that are made about the racial wealth gap in the United States. We contend that the cause of the gap must be found in the structural characteristics of the American economy, heavily infused at every point with both an inheritance of racism and the ongoing authority of white supremacy.”
“Blacks cannot close the racial wealth gap by changing their individual behavior— i.e. by assuming more “personal responsibility” or acquiring the portfolio management insights associated with “financial literacy”- if the structural sources of racial inequality remain unchanged. There are no actions that Black Americans can take unilaterally that will have much of an effect on reducing the racial wealth gap.”
"WEALTH BEGETS WEALTH”— Dr. Darrick Hamilton, Economist