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Black-white differences in intergenerational economic mobility in the US
Traditional measures of intergenerational mobility such as the intergenerational elasticity are not useful for inferences concerning group differences in mobility with respect to the pooled income distribution. This paper uses transition probabilities and measures of ?directional rank mobility? that can identify interracial differences in intergenerational mobility. The study uses two data sources, including one that contains social security earnings for a large intergenerational sample. I find that recent cohorts of blacks are not only significantly less upwardly mobile but also ...
The economic progress of African Americans in urban areas: a tale of 14 cities
How significant was the economic progress of African Americans in the United States between 1970 and 2000? In this paper the authors examine this issue for black men 25 to 55 years of age who live in 14 large U.S. metropolitan areas. They present the evidence that significant racial disparities remain in education and labor market outcomes of black and white men, and they discuss changes in industrial composition, migration, and demography that might have contributed to the stagnation of economic progress of black men between 1970 and 2000. In addition, the authors show that there was no ...
African-American economic progress in urban areas: a tale of 14 American cities
How significant was the economic progress of African-Americans in the U.S. between 1970 and 2000? In this paper we examine this issue for black men 25-55 years old who live in 14 large U.S. metropolitan areas. We present the evidence that significant racial disparities remain in education and labor market outcomes of black and white men. We discuss changes in industrial composition, migration, and demographic changes that might have contributed to the stagnation of economic progress of black men between 1970 and 2000. In addition, we show that there was no progress in a financial well-being ...
A bleak 30 years for black men: economic progress was slim in urban America
In many ways, black men were still worse off than white men in 2000, more than three decades after passage of the Civil Rights Act. A decline in manufacturing and relatively low levels of education were contributing factors.
Economic History: Maggie Lena Walker
Maggie Lena Walker built the St. Luke Penny Savings Bank to last. When it opened its doors in Richmond's Jackson Ward district in 1903, Walker became the first Black woman to establish a bank in the United States. She would stand at its helm as president for nearly 30 years, safely steering it through periodic bouts of economic turmoil, eventually increasing its assets more than tenfold. To cap off her career, she would solidify the bank's long-term prospects by orchestrating mergers with two other banks during the depths of the Great Depression.