Despite many gains in equality, there are still large disparities in wealth among different minority groups in America. There are many reasons why wealth inequality is so large and persistent. One reason is differences in risk taking. White and Asian Americans are much more likely to own riskier assets. Risk taking is critical to growing wealth. This suggests reducing inequality will take more than redistributing wealth.
Interested in real economic insights? Want to stay ahead of the competition? Each weekday morning, e21 delivers a short email that includes e21 exclusive commentaries and the latest market news and updates from Washington. Sign up for the e21 Morning eBrief
Photo by Paul Hawthorne/Getty Images