EthioPoint: Ethiopians Analysis | Research Articles

Wealth Disparity in the United States: The Case of Federal Housing Authority

1 min read

Source: Domonoske, et al., Interactive Redlining Map

By Habtamu
The income and wealth disparity in the United States of America is wider than any other economically developed country in the world. This is confirmed by a recent study that found the  top 20 percent of the population holding 84 percent of wealth in the United States (Katznelson etal., 2014). The rich in the United States amass more purchasing power than their wealthy counterparts anywhere else in the world, while ”the bottom 10 percent can buy less than the equivalent group in Canada and Western Europe” (Katznelson et al., 2014). Nonetheless, the astronomical gap between the haves and have-nots has been a reality since the inception of the union as the social construct has been designed to favor white Christian males over all others.
The invisible hands of the state have been consistently and systematically preventing minority groups from acquiring adequate opportunities to do well and prosper. To the contrary, state institutions such as the Federal Housing Authority (FHA) have promoted economic injustice and implemented discriminatory policies leading to the current colossal economic gap
and absurdly incongruous state. Institutional discrimination has created a lasting generational impact on African Americans and other minority groups (Kimble, 2007).
Read Full Story in PDF