Panel: New Evidence on the Determinants and Consequences of Racial Differences in Outcomes
(Social Equity)

Saturday, November 4, 2017: 8:30 AM-10:00 AM
Stetson F (Hyatt Regency Chicago)

*Names in bold indicate Presenter

Panel Organizers:  Kasey Wiedrich, CFED
Panel Chairs:  Dedrick Asante-Muhammad, CFED
Discussants:  Marisa Novara, Metropolitan Planning Council

Measuring African American Youth Outcomes - The Impact of Local Nonprofits
Susan Gooden, Lindsey Evans, Michael Perkins and Yali Pang, Virginia Commonwealth University

What Accounts for Racial and Ethnic Differences in Use of Bank and Nonbank Financial Services?
Ryan Goodstein, Alicia Lloro, Sherrie Rhine and Jeffrey Weinstein, Federal Deposit Insurance Corporation

A Follow up Report to the Ever-Growing Gap (untitled at the moment)
Dedrick Asante-Muhammad1, Chuck Collins2, Josh Hoxie2 and Emanuel Nieves1, (1)CFED, (2)Institute for Policy Studies

“Family Achievements?”: How Wealth Trumps Education for White and Black College Graduates
Tatjana Meschede, Joanna Taylor, Alexis Mann and Thomas Shapiro, Brandeis University

While numerous studies have shown people of color—Black and Latino populations in particular—are generally more economically vulnerable than their white counterparts, the results of the recent election have seemed to shift the national conversation to the economic plight of the White working-class. While results of last November’s election may have been the catalyst needed to ensure that the economic concerns of these communities were paid attention to, that narrow focus is likely to continue to ignore the long-standing economic conditions experienced by people of color. More importantly, it dismisses a growing problem that is impacting us all and will continue to well into the foreseeable future: the racial wealth divide.

This panel will present research from CFED and the Institute for Assets and Social Policy, on the current state and future of the racial wealth divide as well as the economic and social impact this growing problem is having in cities like Chicago. Moreover, the panel will also present recent research that adds to a series of literature that calls into question the long-held believe that a higher-education is the “great equalizer” capable of helping communities of color achieve racial and economic equality.

Building on last year’s Ever-Growing Gap report, this panel will explore CFED’s upcoming paper, which will highlight wealth trends at the median for Black and Latino families and will provide new projections for the future of the racial wealth divide over the course of the Trump administration and past the majority-minority tipping point in 2043.

This panel will also explore Brandeis University's Institute for Assets and Social Policy’s recent released paper that shows that despite a college education being linked to higher life-time earnings and better economic achievements, those benefits do not end up translating to higher net wealth for Black college-educated households as they do for White college-educated. While we did not confirm a third paper at the time this proposal was submitted, we will invite a third paper that focuses on misconceptions about racial wealth divide or the role of education debt in the racial wealth gap.

The moderator will provide perspective on current efforts and policy strategies to reduce wealth disparities by race as well as his teams work to engage policymakers and practitioners on reducing racial wealth inequality nationwide. Our discussant will ground the panel’s conversation on the tangible economic and social impacts that the racial wealth divide, as well as segregation is having in Chicago.

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