Breakingviews - U.S. racism’s $13 trln legacy is just the start
Around the time the United States formally abolished slavery in 1865, African Americans owned 0.5% of the United States’ wealth. Today they own under 3%, even though around 13% of the population is defined by the U.S. census as “black or African American.” This isn’t an accident of history – it’s a result of government policies and institutional bias. The interest keeps compounding.