White Americans = 70% of pop. , $100 trillion in wealth.
African Americans = 14% of the pop, $2.9 trillion in wealth
African Americans in particular owned almost 10-12% of the land in this country (true wealth) and were promised more from the government in reparations (40 acres) not long ago, but discriminatory policies stripped that land away from them over 100 years.
Being in the USA for 150-200 years results in atleast 500k-1million $ in wealth purely due to land and home value appreciation.
The average black person has about ~500$ in wealth. This isn't a fluke, this was designed... This is a country that criminalizes being poor more and more in many ways, so we can fall into the trap of revictimizing the underclass we created, this time using algos, if we are not careful.
When a judge is evaluating whether or not to grant parole, is he or she looking for a causal factor that will directly cause the convict to re-offend or is the judge evaluating the convict's situation with factors that are correlated with re-offending?
Showing causation with whole-group statistics is very, very hard.
The majority of the $500k-1m baseline in white middle-upper class wealth is in homes and land handed down as inheritances, this is not debatable. That property allows a certain amount of leverage to invest in education, businesses etc...
The ben & jerry's founder talked about this in vivid detail on the campaign trail with Bernie Sanders. If he was black where he grew up, no GI bill = no cheap housing = no appreciation of property/land over his childhood = no financial leverage to build his company.
I can take risks and fail without going bankrupt thanks to familial wealth, that is a tremendous luxury not afforded to the group I'm mentioning.
(And in any case, my point was just that it wasn't shown as causation in the stats you cited)
You are correct on that point. More than 50% of the 100$ trillion is held by the top 10%.
On the other point, my point is the first $500k to 1million of wealth was due to inheritance... not the total wealth of the 1%.
Follow up: At one point, any white male could move westward and get free land (whether indegeous owned or not). 40-100 acres after a century+ of property value appreciation is quite a bit of wealth. The $500k-1m number I use as a baseline for white wealth is very conservative.
I'm not sure why causation vs. correlation is relevant here. When, say, someone is up for parole the judge will review their past criminal history, conduct in prison, whether or not they will have a support structure when they are released, etc. None of these factors are causal. A judge cannot point to a past crime, or to conduct in prison and say "this factor will cause you to reoffend". No, the decision is made based on factors that are correlated with higher rates of recidivism.