North Texas Asset Funders Network and Communities Foundation of Texas hosted renowned sociologist Thomas M. Shapiro, and discuss the ideas and findings in his new book, Toxic Inequality: How America's Wealth Gap Destroys Mobility, Deepens the Racial Divide, and Threatens Our Future.
Since the Great Recession, most Americans' standard of living has stagnated or declined. Economic inequality is at historic highs. But inequality's impact differs by race; African Americans' net wealth is just a tenth that of white Americans, and over recent decades, this gap has continued to widen. In our increasingly diverse nation, Shapiro argues wealth disparities must be understood in tandem with racial inequities -- a dangerous combination he terms "toxic inequality." Toxic inequality may seem inexorable, but it is not inevitable.
Following nearly two hundred families of different races and income levels over a period of 12 years, Shapiro's research vividly documents the recession's toll on parents and children, the ways families use assets to manage crises and create opportunities, and the real reasons some families build wealth while others struggle in poverty.
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