June 5

How Managing Wealth Differently Can Contribute to a More Equitable Recovery

By Oscar Perry Abello

White households hold 85 percent of all wealth in the country, including 92 percent of all stocks and 80 percent of all real estate, according to Federal Reserve data.

With the COVID-19 pandemic’s racially disparate death rates to uprisings sparked by ongoing deadly police brutality, all disproportionately affecting black communities, there may be no better time to rethink how that wealth gets managed and how it might be managed differently in order to contribute to a different social outcome.

Legislators and presidential candidates have proposed a wealth tax, at federal as well as state levels. But short of that, there are alternatives to manage wealth in ways that acknowledge the unjust history of wealth distribution in the United States.

Photo courtesy of Arek Socha.

Source: Next City (link opens in a new window)

Coronavirus, Impact Assessment, Investing
financial inclusion, impact investing