A Social Psychological Approach to Racializing Wealth Inequality
Title
A Social Psychological Approach to Racializing Wealth Inequality
Author
Brown, Joey
Research Area
Class, Status and Power
Topic
Social and Economic Inequality
Abstract
Since the Civil Rights' movements of the 1960s, some Blacks have advanced socioeconomically, resulting in a flourishing Black middle‐class. The Black middle‐class has experienced upward mobility as measured by traditional indicators of education and income. Cultural narratives promoting colorblindness and stressing the rise of a postracial, meritocratic America uphold Black advancement as a symbol of success. However, a focus on racial wealth inequality complicates the narrative of Black success and tells a different story regarding the life chances of Black Americans, even those who are middle‐class. This essay explicates foundational research on the increasing visibility of the Black middle‐class and racial wealth inequality. Secondly, it discusses advances in research on race and wealth inequality as well as recent social psychological theory on social class that may be useful in thinking about mechanisms and consequences of racial wealth inequality. Finally, the essay raises some key issues and questions for social psychologists interested in racial wealth inequality. By no means exhaustive, the goal is to begin a conversation on how social psychologists can contribute to understanding racial wealth inequality. In particular, social psychological work may help us understand continuing racial wealth inequality by considering the role of financial socialization, addressing tensions between objective and subjective social class identification, and thinking about the role of self and identity in wealth creation, accumulation, and dissemination.