Economics of Race in the United States

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Economics of Race in the United States. The American population is categorized by race. The categories include the White Americans, Black Americans, and the Hispanics. The categorizations of racial groups have a relationship with economic disparity in that the racial categorizations appear to be a causal factor in the disproportionate representation of non-White Americans in economically compromised circumstances. The major and seemingly persistent challenges facing the economy as a result of the racial disparities include economic inequality, alleviation of poverty levels among Black Americans and Hispanics and the widening of the racial wealth gap. The problems are interrelated in that one challenge leads to another. For instance, the racial wealth gap causes economic inequality and poverty among the Blacks and the Hispanics. Therefore, in developing public policies, the federal government should strive to handle all the problems collectively. However, what has been the case has often been most aligned to ad hoc or siloed programs that have not integrated either long-term strategy or continuous improvement focused re-evaluation of implemented policies. For instance, the government has implemented policies directed to eliminating discrimination in the workplace without addressing the disparities in homeownership, the rate of college attainment and the median employment income in the labor market. This paper justifies the implementation of holistic public policies that would address the provision of present opportunities focused on wealth attainment in conjunction with adjustments for prevailing wealth gaps. Keywords: racial disparities, the racial wealth gap, public

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