{"id":4057,"date":"2013-02-14T10:04:23","date_gmt":"2013-02-14T15:04:23","guid":{"rendered":"http:\/\/thesocietypages.org\/citings\/?p=4057"},"modified":"2013-02-13T12:08:46","modified_gmt":"2013-02-13T17:08:46","slug":"excavating-the-wealth-gap","status":"publish","type":"post","link":"https:\/\/thesocietypages.org\/clippings\/2013\/02\/14\/excavating-the-wealth-gap\/","title":{"rendered":"Excavating the Wealth Gap"},"content":{"rendered":"<figure id=\"attachment_4058\" aria-describedby=\"caption-attachment-4058\" style=\"width: 300px\" class=\"wp-caption alignright\"><a href=\"https:\/\/thesocietypages.org\/citings\/files\/2013\/02\/blackwhitewealth.jpg\" data-rel=\"lightbox-image-0\" data-rl_title=\"\" data-rl_caption=\"\" title=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-4058\" alt=\"A chart from O'Rourke's paper, via the Boston Globe.\" src=\"https:\/\/thesocietypages.org\/citings\/files\/2013\/02\/blackwhitewealth-300x197.jpg\" width=\"300\" height=\"197\" srcset=\"https:\/\/thesocietypages.org\/clippings\/files\/2013\/02\/blackwhitewealth-300x197.jpg 300w, https:\/\/thesocietypages.org\/clippings\/files\/2013\/02\/blackwhitewealth.jpg 681w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-4058\" class=\"wp-caption-text\">A chart from O&#8217;Rourke&#8217;s paper, via the Boston Globe.<\/figcaption><\/figure>\n<p>A social problem examined by sociologists for decades, the white-black wealth gap has widened to record highs during the recession, with the median wealth for white households at twenty times that of their black counterparts. On the <a href=\"http:\/\/www.boston.com\/bostonglobe\/ideas\/brainiac\/2013\/01\/a_new_explanati.html\"><i>Boston Globe<\/i>\u2019s Brainiac blog<\/a>, Kevin Hartnett shares a <a href=\"http:\/\/sf.oxfordjournals.org\/content\/early\/2012\/10\/18\/sf.sos132.abstract\">recent study<\/a> by Princeton sociology graduate student Rourke O\u2019Brien. The study quantitatively tests the idea that this wealth discrepancy is due, in part, to giving or loaning money to relatives.<\/p>\n<blockquote><p>Middle-income blacks are more than twice as likely as middle-income whites to have a poor sibling and more than four times as likely to have parents below the poverty line. And because of these relationships, they\u2019re called upon more often to provide financial assistance.<\/p><\/blockquote>\n<p>Whereas investments can be used to generate more wealth, gifts and informal loans to family members are usually spent \u00a0paying bills or covering immediate financial needs. O\u2019Brien argues that informal financial support networks can account for roughly 27% of the white-black wealth gap.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A social problem examined by sociologists for decades, the white-black wealth gap has widened to record highs during the recession, with the median wealth for white households at twenty times that of their black counterparts. On the Boston Globe\u2019s Brainiac blog, Kevin Hartnett shares a recent study by Princeton sociology graduate student Rourke O\u2019Brien. The [&hellip;]<\/p>\n","protected":false},"author":1887,"featured_media":4058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[39074],"tags":[745,2381,131,922,19406,358,19085],"class_list":["post-4057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sightings","tag-african-american","tag-black","tag-economy","tag-money","tag-ses","tag-wealth","tag-wealth-gap"],"jetpack_featured_media_url":"https:\/\/thesocietypages.org\/clippings\/files\/2013\/02\/blackwhitewealth.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/posts\/4057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/users\/1887"}],"replies":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/comments?post=4057"}],"version-history":[{"count":1,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/posts\/4057\/revisions"}],"predecessor-version":[{"id":4059,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/posts\/4057\/revisions\/4059"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/media\/4058"}],"wp:attachment":[{"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/media?parent=4057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/categories?post=4057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/tags?post=4057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}