The Racial Wealth Gap: Understanding the Economic Basis for Repair

Deconstructing The Bootstrap Argument

YOU KNOW IT BY HEART.

  • Pull yourself up by your bootstraps!

  • I did it and so can you.

  • The playing field is level.

Except the playing field isn't level.  It never has been; it wasn't designed to be level.  The playing field was designed to favor white players and disadvantage Black players.  Deliberately.

White families continue to subscribe to the 'bootstrap argument' proclaiming, "we did it all by ourselves!" Meanwhile, our family members conveniently ignore the economic value of both the tangible and intangible benefits we've received, like historic land grants and New Deal or GI Bill entitlements. These are some of the sources of wealth which helped to propel many white families into the middle class - while black family economic progress languished.

  • Use a little elbow grease!

  • Success just takes a little grit.

  • We're all equal!

  • America is a meritocracy.

Recent figures show that white median net worth is roughly ten times Black median net worth. Let's look at barriers to Black prosperity over 400 years and see how the bootstrap argument stacks up.

There is, indeed, a strong economic basis for reparations.

MLK

Learn about the racial wealth gap, era-by-era:

Black White Net Worth

"It was never the case that a white asset-based middle class simply emerged. Rather, it was government policy, and to some extent literal government giveaways, that provided whites the finance, education, land and infrastructure to accumulate and pass down wealth."

Darrick Hamilton, PhD and Trevon Logan PhD