This stunning wealth gap between the races has persisted, in good times and bad, for the past 70 years.
It did not get better after the civil rights era legislation was passed in the 1960s or during the Obama administration.
“As long as we have racial wealth gap, we’re going to have a problems with race,” said Patrick Mason, an economics professor at Florida State University.
Since the 1960s, the wealth gap has been largely ignored by the economics profession, black economists say.
For years, black economists struggled in the American Economics Association to even study the subject of wealth disparity between the races, black economists said.
Black economists formed their own association, the National Economics Association, in 1969 to study the economic situation of black Americans.
Black economists think that reparations — the direct payment to descendents of former slaves — would narrow the wealth gap. »
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