Journal Article

Opportunity for Whom? Building Wealth Through Advancing Racial Equity

Abstract: America is undergoing a profound demographic shift amid rising inequality and persistent racial inequities. By 2030, the majority of workers under 25 will be people of color.1 By 2044, the majority of Americans will be people of color.2 Rising diversity is a tremendous asset ? if all people can access the resources and opportunity they need to thrive. If we want to truly build wealth in communities, we must relentlessly embrace the conviction that everyone in America can and should live in communities of opportunity, where good schools, healthy environments, safe homes, quality jobs, and affordable transit provide the bedrock resources essential for realizing our full potential. The nation?s economic fate will hinge on how we respond to these changes. Therefore, equity is both a moral imperative and the path to economic prosperity. To achieve equity, however, we must move from policies and systems that extract wealth to those that intentionally build wealth for community residents.

Keywords: equality; wealth;

Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Cascade

Publication Date: 2018-10

Volume: 3

Order Number: 100