#MoneyMonday – Economics of Equality

Source: Citigroup, “Closing the Racial Inequality Gaps” September 2020

On Martin Luther King Jr Day, it feels irresponsible to post about anything other than the economic impact of systemic inequality. I’m sharing these graphics published by Citi this past September where they calculated that the differing treatment of white citizens over black citizens has cost our U.S. economy an estimated $16 trillion dollars over the past 20 years.

Source: Citigroup, “Closing the Racial Inequality Gaps” September 2020

We’re at an opportunistic crossroads where the economy needs assistance and racial awareness is higher than ever. Taking advantage of this moment in time to fix the issues could provide a boost of $5 Trillion over the next 5 years, as estimated by Citi’s research team. The steps they recommend are not new; they’re not innovative nor bold. They really don’t vary much from Dr. King’s original dream. It is well past time for citizens to “… not be judged by the color of their skin but by the content of their character.” Continuing any other way comes at cost to everyone’s prosperity.

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