As I suggested yesterday, the persistence and worsening of the racial wealth gap in the U.S. must be attributed, at least in part, to widespread acceptance of the current U.S. racial order. Thus, perhaps the most revealing statistic to upset some of our entrenched suppositions is the wealth decline of Asians: 54%. This even exceeds the percentage decline for blacks. As of 2009, the median household wealth for Asians was still, $78,066, grossly exceeding Latinos and blacks. However, Asians nonetheless lost their top ranking (over whites) dropping from their 2005 mark of $168,103.
Something is surely rotten in Denmark when the group prompting UC Berkeley and many Ivies to feel the other edge of that meritocracy sword, and therefore walk towards a more “holistic” approach to admissions, finds itself unmistakeably in the same boat as black and Latinos rather than whites. Or, perhaps, nothing is rotting at all -- perhaps it has always smelled this way.
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