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jerryking : misperceptions   2

Whites Have Huge Wealth Edge Over Blacks (but Don’t Know It) - The New York Times
By EMILY BADGER SEPT. 18, 2017

Americans believe that blacks and whites are more equal today than they truly are on measures of income, wealth, wages and health benefits. And they believe more historical progress has occurred than is the case, suggesting “a profound misperception of and unfounded optimism” regarding racial equality......we also overgeneralize from other markers of racial progress: the election of a black president, the passage of civil rights laws, the sea change in public opinion around issues like segregation. If society has progressed in these ways, we assume there’s been great economic progress, too.

We’re inclined, as well, to believe that society is fairer than it really is. The reality that it’s not — that even college-educated black workers earn about 20 percent less than college-educated white ones, for example — is uncomfortable for both blacks who’ve been harmed by that unfairness and whites who’ve benefited from it......If we want people to have a better understanding of racial inequality, this implies that the solution isn’t simply to parrot these statistics more widely. It’s to get Americans thinking more about the forces that underlie them, like continued discrimination in hiring, or disparities in mortgage lending.

It’s a myth that racial progress is inevitable, Ms. Richeson said. “But it’s also dangerous insofar as it keeps us blind to considerable inequality in our nation that’s quite foundational,” she said. “Of course we can’t address it if we’re not even willing to acknowledge it.”

And if we’re not willing to acknowledge it, she adds, that has direct consequences for whether Americans are willing to support affirmative action policies, or continued enforcement of the Voting Rights Act, or renewed efforts at school desegregation......
achievement_gaps  generational_wealth  misperceptions  African-Americans  optimism  whites  racial_disparities  infographics  white_privilege 
september 2017 by jerryking
Lack of investment is the real tragedy in Africa
June 10 2005 | FT | By Kurt Hoffman.

The moral question of our time has little to do with public money and everything to do with private capital.

The calls for rich taxpayers' money to eliminate poverty, either as debt relief or as aid, drown out the whoosh of billions of dollars of private capital that is circling the globe, looking for a place to land and multiply. The real tragedy is that only 1 per cent of it finds its way to sub-Saharan Africa.

This vote of no confidence in Africa on the part of global investors is seen by some as a justification for doubling aid. But this is confounded by the fact that Africa delivers some of the highest returns on investment on the planet.

Even more intriguing: despite the misperception that capital shortages are holding back development, banks across east, west and sub-Saharan Africa are actually flush with money. Yet they refuse to lend it to those who can do the most with it: millions of disenfranchised, small-scale African entrepreneurs who could lift Africa out of poverty if given half a chance.
Africa  investments  sub-Saharan_Africa  investors  ROI  private_equity  misperceptions  disenfranchisement  mom-and-pop  capital_shortages  small-scale  entrepreneur 
august 2012 by jerryking

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