The typical white family in America has 10 times the wealth of a typical black family—a figure that has barely changed in two decades and has actually widened in the current economic expansion. This persistent, and growing, disparity has become a pressing issue for Democrats, with four presidential hopefuls making their case in June at the Black Economic Alliance Forum and a House Judiciary subcommittee debatingjust this summer.
But it's also infiltrating corporate America. The consulting firm McKinsey this week issued an estimate of just how much the historic and current discrimination against African-Americans is hurting the broader economy. That estimate: Somewhere between $1 trillion and $1.5 trillion.
Total foolish thought.