By Brentin Mock | CityLab
Economic plans like Mike Bloomberg’s assume that boosting black homeownership and entrepreneurs will close racial wealth gaps. New research suggests it won’t.
Owning a home and a business has always been central to the American Dream. But recent scholarship has called into question the idea that fulfilling this dream has actually improved African Americans’ quality of life.
For decades, encouraging African-American homeownership and entrepreneurship has been a common proposal for those who want to narrow the racial wealth gap. In a recent prominent example, Michael Bloomberg unveiled a plan in his presidential campaign to bolster economic outcomes for African Americans that banks on these tools.