A great article, until........

[OldWiseGuy]

.....the author slipped racial discrimination in. Kudos anyway for introducing some fundamental facts otherwise unrealized.

Study: Here's the real reason for America's racial wealth gap

Whites have just been at wealth accumulation longer and are better at it. Consider a white 'economic' marathon runner who has a thirty minute head start over a black runner. Of course the white runner is going to win the race, and will do so without negatively affecting the black runner's progress. He has simply started much sooner and will therefore reach the finish line (wealth) sooner.

As the author correctly pointed out white people have more 'generational' wealth, as well as experience and connections, to hand down to the next generation. Whites have a 'wealth generating culture', and the structures to match. Whites accumulate wealth without regard to black accumulation of wealth being substantially less. In this they are parallel economies that hardly effect each other in any substantial way regarding wealth accumulation.

 

[GrowingSmaller]

This is partly why I don't like the libertarian ideal. The haves will just get more, and the poor spiral under their control.