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Unformatted text preview: -White Alone = $65,000 Wealth: -A stock of value for assets. It is a dollar amount, savings in the form of stocks, bonds, equity on property. The authors call it the difference between “what you own and what you owe” at a point in time. -Tell me what you know about wealth: What are some of its sources? -What benefits does it provide families? -What is net work? Net financial assets? -What is equity? o The difference between what the house is worth, and what you still owe on it. -Wealth (and income) inequality has grown over time and is growing nationally and internationally. -Wealth is valuable as insurance against an emergency (lost job medical crisis); has a legacy effect (can be used as collateral for borrowing). -Wealth inequality left unchecked will grow/persists across time. Median Home Value in 1999 Dollars -Black = $80,600 -Native American = $81,000 -Asian = $199,300 -Hispanic or Latino = $105,600...
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This note was uploaded on 11/08/2011 for the course ECON 144 taught by Professor Lisasaunders during the Fall '11 term at UMass (Amherst).
- Fall '11