Why the racial wealth divide matters

Contributor(s): Professor Vimal Ranchhod, Faeza Meyer, Dr Eleni Karagiannaki, Dr Shabna Begum | Wealthy households able to draw on owner occupied housing assets, private pensions, savings and financial investments have prospered. Meanwhile the majority of the populations, even in rich nations – have been exposed to harsh ‘austerity’ policies, and often the need to balance debt obligations. There is increasing evidence that wealth assets play a significant role in allowing social mobility advantages to the children of wealthy households. However, it is not widely appreciated that these developments underscore the intensification of racial wealth divides. Although the historical study of the racialised elements of wealth inequality is widely known, with widely appreciated studies of slavery and imperialism, the contemporary racialisation of wealth inequality needs to be much better known. This event features original research reporting on their findings from the UK, South Africa, and elsewhere.