The “racial wealth gap” narrative obscures reality of class divide in the US

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    • #432228
      Ohio Barbarian
      • Total Posts: 21,756

      This is a very long article, full of facts and figures and a real understanding of statistics, that debunks the common American racialist narrative in favor of a class analysis that is based on who controls the means of production and who does not:

      Over the last several years, news of a “racial wealth gap” has flooded America’s airwaves and print media. According to those pushing the concept, white Americans have a great deal more in all respects than black Americans, and that, therefore, race-based remedies tailored to upper income blacks—such as reparations, set-asides, and affirmative action—must be deployed.

      These racialist politics share one common feature: They leave untouched the actual source of social inequality for workers of all races—capitalism.

      The concept of the racial wealth gap, and the attendant idea of “white privilege,” have been promoted by academics for some time, but it is only recently that they have appeared broadly in the news media. An analysis of newspaper articles on the archive shows that the terms “racial wealth gap,” “racial wealth divide,” “racial inequality,” and “white privilege” appeared 4,689 times in the 1990s and then more than tripled in the 2010s, reaching 15,758 mentions. Over the 2020s—that is, just the last year-and-a-half—there have already been 10,658 references to these terms. By contrast, during the 1960s, the height of the civil rights era, they only appeared 4,560 times.

      The deluge coincides with a massive growth in overall wealth and income inequality in the US and globally. The wealthiest 10 percent of US households owns 34.5 times more than the bottom 50 percent, and over the course of just 2020 they increased their fortune by more than $18.8 trillion—about $1.53 million per household, with far higher going to the super-rich. As the richest of all races have seen their fortunes climb into the stratosphere and their counterparts in the bottom 90 percent have seen theirs stagnate and crumble, an obsessive focus on race has emerged. It is being pumped into the veins of American society. The purpose is to transform a looming class war into a race war.

      Full article, with lots of colorful graphs, here. 

      It is better to vote for what you want and not get it than to vote for what you don't want and get it.--Eugene Debs

      You can jail a revolutionary, but you can't jail the revolution.--Fred Hampton

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