Question

What is the racial wealth gap? What are the major factors driving the growing racial wealth gap? How are these representative of larger patterns in society? Finally, what specific factors contribute to these grave disparities?

Answer 1

One of the most important factors that has created wealth gap in most of the countries is the racial segregation and in some countries such as India, it’s called caste difference. Racial discrimination in America kept everyone else other than the White in slavery for few centuries thus depriving them of their fundamental rights to education, employment and other facilities. This time period is long enough to create wealth gap between the races. Thus it would take another fifty years to get things even because America is practicing institutionalized racism where people of colour is discriminated and limited to opportunities and facilities. This furthers the wealth gap but the American society has witnessed a tremendous improvement in terms of accepting people of colour and supporting their needs. The society is still becoming civilized and only the acceptance of everyone without any discrimination would spearhead this change and it would take two more generations to bring that change. The thought that America is not White but colourful would bring in this change.