A financial chasm separates blacks and whites in every major market across America.
Blacks come closest to parity in Poughkeepsie, N.Y., though a wide gap exists even there. The typical black resident of Poughkeepsie earns $703 for every $1,000 earned by a typical white resident -- a difference of 29.7 percent.
The runners-up among major markets are Colorado Springs, where blacks are 31.6 percent behind whites, and Riverside-San Bernardino, Calif., where the income disparity is 34.9 percent. (A major market is defined as any metropolitan area with a population of 500,000 or more.)
On Numbers compared per capita incomes for whites and blacks in the 587 metropolitan and micropolitan areas where at least 2 percent of the residents are black. All income data came from the U.S. Census Bureau 's 2010 American Community Survey.
The news that Blacks earn about 70% of what their White neighbors earn should be processed in a manner that is very different from what we typically see.
In the normal course - White people are assigned as the perfect "1.0" reference that Black people are measured against and then the report that documents the "inferiority" of Black people to this reference gets walked up to Capitol Hill where the government is asked to "Do Something" about this structural racism.
This approach is not going to close the gap.
There is a close overlap between those who spout rhetoric against capitalism and those who are inclined to believe that more government control over the economy is the only way to produce equality. The assumption being that racism is the predominate cause of this gap.
The more productive and comprehensive means of addressing this challenge is to first apply the proper understanding of economics.
The core point that needs to be stressed is that the income of an individual or company is representative of a market demand for some good or service that the entity has for sale and the perceived value of it by the consumer.
I have posted many times that a Black person with a college education can functionally close any income gap among the races.
More important than a process by which "your people" are compelled to go into careers that pay big bucks is the need for them to be conscious of the needs of the community that will afford it the ability to live up to a certain standard of living. From there they should align themselves with these needs, developing a market that provides these services and receive a stream of income in support of this effort.
The focus upon building up the economic corpuscles of the community will have a more significant long term impact on this same community's ability to:
- Create Jobs
- Retain Their Dollars Within The Community
- Drive Local Economic Conditions Rather Than Them Being A Function Of The Whims Of The National Economy