Finance & economics | Free exchange

Economic research documents black Americans’ struggle for equality

History shows that progress towards equality is followed by a racist backlash

THE DEATH of George Floyd at the hands of the Minneapolis police has focused minds around the world on America’s glaring, stubborn racial inequalities. The income of the median black household is less than 60% of the white one. The median white American has a net worth about ten times that of the typical black American—a gap that has not budged since 1990. Injustice began with the original sin of slavery. But as a growing body of scholarship reveals, injustice has endured because racism and discrimination have, too. Over the course of America’s history, dearly won progress towards equality has been followed by a racist backlash.

This article appeared in the Finance & economics section of the print edition under the headline “Stony the road”

The power of protest

From the June 13th 2020 edition

Discover stories from this section and more in the list of contents

Explore the edition

More from Finance & economics

China meets its official growth target. Not everyone is convinced

For one thing, 2024 saw the second-weakest rise in nominal GDP since the 1970s

Ethiopia's Prime Minister Abiy Ahmed speaks during the launch of the Ethiopian Securities Exchange in Addis Ababa, Ethiopia, on January 10th 2025

Ethiopia gets a stockmarket. Now it just needs some firms to list

The country is no longer the most populous without a bourse


Shibuya crossing in Tokyo, Japan

Are big cities overrated?

New economic research suggests so


Why catastrophe bonds are failing to cover disaster damage 

The innovative form of insurance is reaching its limits

“The Traitors”, a reality TV show, offers a useful economics lesson

It is a finite, sequential, incomplete information game

Will Donald Trump unleash Wall Street?

Bankers have plenty of reason to be hopeful