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Based on roundtable discussions by a variety of scholars over a two-year period, these essays explore the complex and often contradictory matrix of sentiments, feelings, and beliefs that frame America's contemporary social doctrine of wealth. The seven Boston College faculty members whose writings ...

Based on roundtable discussions by a variety of scholars over a two-year period, these essays explore the complex and often contradictory matrix of sentiments, feelings, and beliefs that frame America's contemporary social doctrine of wealth. The seven Boston College faculty members whose writings comprise this volume are professors of classics, economics, ethics, history, literature, scripture, and sociology. Each scholar reviews a a range of writings and narratives that enunciate definite theses about the genesis and prospects as well as the uses and abuses of wealth. Today, as the discussion of wealth creation and distribution become framed less frequently under the rubrics of capitalism and socialism, it is propitious to examine other pieces of the debate that come to us from our Western classical, biblical, literary, and ethical traditions. The talk for and against wealth, so well articulated by Adam Smith and Karl Marx, is only one axis on which this important Western motif turns. Schervishand his contributors enable us to consult several other texts that can guide our repositioning on the controversies surrounding the moral status of wealth and the wealthy.

Over the past three decades, racial prejudice in America has declined significantly and many African American families have seen a steady rise in employment and annual income. But alongside these encouraging signs, Thomas Shapiro argues in The Hidden Cost of Being African American, fundamental ...

Over the past three decades, racial prejudice in America has declined significantly and many African American families have seen a steady rise in employment and annual income. But alongside these encouraging signs, Thomas Shapiro argues in The Hidden Cost of Being African American, fundamental levels of racial inequality persist, particularly in the area of asset accumulation--inheritance, savings accounts, stocks, bonds, home equity, and other investments-. Shapiro reveals how the lack of these family assets along with continuing racial discrimination in crucial areas like homeownership dramatically impact the everyday lives of many black families, reversing gains earned in schools and on jobs, and perpetuating the cycle of poverty in which far too many find themselves trapped. Shapiro uses a combination of in-depth interviews with almost 200 families from Los Angeles, Boston, and St. Louis, and national survey data with 10,000 families to show how racial inequality is transmitted across generations. We see how those families with private wealth are able to move up from generation to generation, relocating to safer communities with better schools and passing along the accompanying advantages to their children. At the same time those without significant wealth remain trapped in communities that don't allow them to move up, no matter how hard they work. Shapiro challenges white middle class families to consider how the privileges that wealth brings not only improve their own chances but also hold back people who don't have them. This "wealthfare" is a legacy of inequality that, if unchanged, will project social injustice far into the future. Showing that over half of black families fall below the asset poverty line at the beginning of the new century, The Hidden Cost of Being African American will challenge all Americans to reconsider what must be done to end racial inequality.