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Black Wealth/ White Wealth: A New Perspective on Racial Inequality
Black Wealth/White Wealth demonstrates how an analysis of private wealth uncovers a revealing story about race in America. An examination of how assets are created, expanded and preserved reveals a deep economic divide between blacks and whites. Charting the changing structure of inequality over many generations, the authors examine how and why many blacks have had difficulty accumulating wealth and opportunities for a better life. In combining quantitative data from over 12,000 households and interviews with a range of black and white families, the racial face of wealth in America is measured and conceptualized.
242 pages, Hardcover
First published March 1, 1995
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Displaying 1 - 14 of 14 reviews
January 24, 2012
5 stars for it's scholarly impact and importance--not quite a 5 star reading experience for someone like me, whose eyes start to glaze over when confronted with R^2s and tables of statistics.
Either way, Black Wealth/White Wealth is an excellent place to start reading for those interested in institutional racism. This book shows that whites have better access to wealth and advantages in accumulating wealth that are the result of inheritance, government policy, and the policies of private banking institutions. Basically, the moral of the story is that whites are significantly advantaged while blacks are consistently and tragically disadvantaged. Although your average white person may think that he or she has "earned" what he or she has--this book shows that there's really more to what's going on with wealth distribution than simple meritocracy.
Whites are more likely to be approved for mortgages, receive lower interest rates, and their houses appreciate at a higher rate than similarly incomed blacks. Whites profit from their whiteness, while the price of being black comes to about $43,000 in median net wealth.
This book is a landmark publication and extremely important. But it was no real picnic for a theorist like myself to read.
Either way, Black Wealth/White Wealth is an excellent place to start reading for those interested in institutional racism. This book shows that whites have better access to wealth and advantages in accumulating wealth that are the result of inheritance, government policy, and the policies of private banking institutions. Basically, the moral of the story is that whites are significantly advantaged while blacks are consistently and tragically disadvantaged. Although your average white person may think that he or she has "earned" what he or she has--this book shows that there's really more to what's going on with wealth distribution than simple meritocracy.
Whites are more likely to be approved for mortgages, receive lower interest rates, and their houses appreciate at a higher rate than similarly incomed blacks. Whites profit from their whiteness, while the price of being black comes to about $43,000 in median net wealth.
This book is a landmark publication and extremely important. But it was no real picnic for a theorist like myself to read.
August 26, 2015
This book is a must must MUST read. From a high school debater who is obsessed with the complexities of the United States' inequalities, this book was still unbelievably shocking. While most Americans would probably agree that slavery and Jim Crowe laws were awful and racist, many (like myself a few years ago) are unaware of current injustices. That's why I found this book so fascinating. Melvin Oliver gave a disturbing and enlightening in depth analysis of how legislation passed in the last fifty years has managed to perpetuate and, in some cases, dramatically increase the race divide in our country. With a focus on banks' redlining policies and The Federal Housing Administration's racist loan qualification factors, Oliver paints a clear picture of how the current system continues to force black americans into an unending cycle of oppression and poverty. As crucial as I believe reading this book to be, it is not a light read. It is an intellectual text- meaning it moves quickly, is very wordy, and unless you find politics as fascinating as I do- I would not recommend the book. For a truly enlightening experience for those unknowingly ignorant to current American oppression, Black Wealth/ White Wealth by Melvin Oliver is a undoubtedly necessary five star read.
November 24, 2017
Amazing book that challenges the way we thinking about earnings and not about wealth. The mixture of interviews to see the role that money plays in people's lives with the quantitative analysis makes the book accessible to a wide audience. I have taught it with students many times.
I read the first edition in 1995 and then the second edition.
I read the first edition in 1995 and then the second edition.
July 18, 2020
The charts are tricky, but by all means read this book. There's so much data in it to point to what systemic racism baldly is. The authors' focus on wealth instead of income makes sense, and they eviscerate any limping remnants of arguments about class being a bigger factor than race or black laziness. They also paint a profound picture of how black people have been shepherded from one extractive system to the next since they were trafficked here--and that presently it continues, making intergenerational wealth nearly impossible to get hold of.
August 27, 2015
An in depth statistical view of the racial differences in wealth accumulation in the USA. The book is unique because it is a tenth anniversary edition of the first publishing and offers substantial updates. Another thing that is good about this book is that it just doesn't declare something is out of kilter but offers solutions. I recommend it for people interested in American social history.
October 23, 2010
great book on the dramatic differences in wealth between blacks and whites, measured by net worth and financial assets. Pretty much blacks, as a group, have no accumulated wealth and assets. Stark realizations about racial equality in America.
October 8, 2012
Excellent book. Explained why Black people generally have struggled with wealth building/generational wealth building.
October 9, 2019
Insightful! This book should set on the path of discovery for true justice work. A MUST read, understand, and reflect upon!
November 11, 2016
This book cogently outlines the persistent inequality in wealth (not income) between African Americans and whites, and its consequences. It is easy (but wrong) to think that African Americans in the middle and upper classes whose earning power may approach similarly situated whites, that their wealth should also approach equality. Oliver and Shapiro demonstrate by a careful and detailed analysis of the data that it isn't so, and then explain a variety of the reasons, including lack of inheritance, government policy, redlining, the comparative increase in value of homes in black and white neighborhoods, and others. While the book was written in 1995, a new section written in 2005 details that the disparity had gotten no better. While there is no similar update showing the results in the last 10 years, given how the great recession has hurt minorities I suspect it is worse now.
While this book gets a bit wonky for those (like me) well out of school and not accustomed to wading through actual data, it is also refreshing that the authors don't just assert their conclusions, but actually prove them. The result is an appreciation for how much harder it is for African Americans to accumulate the wealth that their white counterparts have, and that provides a cushion of comfort and opportunity, that in turn provides the opportunity for more wealth accumulation.
As I was reading the book, I kept harkening back to a book I read last summer, The Warmth of Other Suns, detailing among other things the prejudice in the Jim Crow south, and how debilitating the impact of repetitive and constant discrimination is. This book demonstrates that the while the specter of separate bathrooms and water fountains is gone, the discrimination lingers, and that to eliminate it will take careful and purposeful policy implementation that we are not likely to see soon.
While this book gets a bit wonky for those (like me) well out of school and not accustomed to wading through actual data, it is also refreshing that the authors don't just assert their conclusions, but actually prove them. The result is an appreciation for how much harder it is for African Americans to accumulate the wealth that their white counterparts have, and that provides a cushion of comfort and opportunity, that in turn provides the opportunity for more wealth accumulation.
As I was reading the book, I kept harkening back to a book I read last summer, The Warmth of Other Suns, detailing among other things the prejudice in the Jim Crow south, and how debilitating the impact of repetitive and constant discrimination is. This book demonstrates that the while the specter of separate bathrooms and water fountains is gone, the discrimination lingers, and that to eliminate it will take careful and purposeful policy implementation that we are not likely to see soon.
July 9, 2011
interesting and probably needs updating to a current model of living
February 5, 2026
This is one of those books that changes the lens through which you view inequality.
Black Wealth / White Wealth argues that wealth—not just income—is the key to understanding racial disparities in America. Oliver and Shapiro show how historical patterns of housing discrimination, unequal access to asset-building opportunities, and intergenerational advantage have created a persistent racial wealth gap that continues to shape outcomes today.
What struck me most is how clearly the authors connect policy decisions to everyday lived realities. They explain why two families with similar incomes can have dramatically different levels of security and opportunity, and how wealth affects education, mobility, health, and long-term stability.
A powerful and necessary read for anyone who wants to understand racial inequality at its roots.
Black Wealth / White Wealth argues that wealth—not just income—is the key to understanding racial disparities in America. Oliver and Shapiro show how historical patterns of housing discrimination, unequal access to asset-building opportunities, and intergenerational advantage have created a persistent racial wealth gap that continues to shape outcomes today.
What struck me most is how clearly the authors connect policy decisions to everyday lived realities. They explain why two families with similar incomes can have dramatically different levels of security and opportunity, and how wealth affects education, mobility, health, and long-term stability.
A powerful and necessary read for anyone who wants to understand racial inequality at its roots.
August 11, 2015
Insightful analysis on the past and present conditions leading to economic inequality between whites and blacks. The suggested solutions to address this reality are very interesting ... Would love to see them debates in the public forum.
July 24, 2008
Read for a political science course. Eye-opening look at the differences between white and black wealth/social capital in the US. Defines wealth in terms of material assets and social class.
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October 29, 2018339.22 O48b 2006
Displaying 1 - 14 of 14 reviews