Unjust: Race and Money in America

The U.S. Black-White wealth gap, the product of a grim and shameful history, is currently estimated to be nearly 90 trillion dollars. This means that typical Black families only have 15 percent of the wealth of typical White families. Despite gains made in the past,  this gap has widened in recent decades. How did we get here, and what can we do about it? 

A thought-provoking look occurred into the complex history of race and money in the U.S. We welcomed a diverse range of prior knowledge levels, as we discussed challenges and opportunities for building a more equitable economic future with our esteemed guests Louise Story and Ebony Reed.

Ebony Reed and Louise Story are instructors at The Yale School of Management and co-authors of the forthcoming book, Fifteen Cents on the Dollar: How Americans Made the Black-White Wealth Gap. Through intimate interviews and personal narratives, their deeply researched book provides a comprehensive, human look at the Black-White wealth gap history, shedding light on the systemic economic discrimination and public/private actions that have perpetuated this staggering divide. Drawing on insights from their research, Ebony and Louise will share perspectives on the historical and contemporary role of business in shaping the wealth gap, delving into topics such as discriminatory pricing and insurance models, unequal employment opportunities and income, and disparities in access to wealth-building financial services and assets.

This event is co-sponsored by the Center on Democracy, Development and the Rule of Law.

Speakers

Ebony Reed is a seasoned journalist who has led operations and coverage at The Plain Dealer, covering Cleveland public schools, and documenting public education’s inequities, where her work was recognized by The Investigative Reporters & Editors organization. At the Detroit News, she managed the local coverage during the 2008 economic crisis. Now the Chief Strategy Officer at The Marshall Project, she has held other senior roles at the Associated Press, Boston Business Journal, and The Wall Street Journal. She’s taught at more than a half dozen institutions, including The Yale School of Management.

Louise Story is a prize-winning investigative journalist who spent more than 15 years at the New York Times and the Wall Street Journal, where she was the top masthead editor running coverage strategy. Her work investigating corruption led to the largest kleptocracy forfeiture in U.S. history, a scandal known as the 1MDB case. During the 2008 financial crisis, her work led to a multi-billion dollar settlement in the derivative market and to Goldman Sachs’s S.E.C. settlement. Projects she has led have received honors including Emmy Awards, Pulitzer Prize finalist citations, and Online News Association awards. Louise’s film "The Kleptocrats" aired on the BBC, Apple and Amazon. She teaches about racial wealth gaps at The Yale School of Management.

Student leader moderator

Amira Hannon, MBA ‘24