On October 24, 2013, the Kellogg Foundation and Altarum Institute sent out a press release about a report they had done titled, “The Business Case for Racial Equity.” This was a study done by both organizations, using information studied and assessed from the Center for American Progress, National Urban League Policy Institute, Joint Center for Political and Economic Studies, and the U.S. Department of Justice.
“Striving for racial equity – a world where race is no longer a factor in the distribution of opportunity – is a matter of social justice. But moving toward racial equity can generate significant economic returns as well. When people face barriers to achieving their full potential, the loss of talent, creativity, energy, and productivity is a burden not only for those disadvantaged, but for communities, businesses, governments, and the economy as a whole. Initial research on the magnitude of this burden in the United States (U.S.), as highlighted in this brief, reveals impacts in the trillions of dollars in lost earnings, avoidable public expenditures, and lost economic output.”
Ani Turner, The Business Case for Racial Equity,
https://altarum.org/sites/default/f..._Business-Case-Racial-Equity_National-Report_ 2018.pdf
On September 3, 2019, Brentin Mock, wrote an article on the Bloomberg.com CityLab website titled, “White Americans’ Hold on Wealth Is Old, Deep, and Nearly Unshakeable” based on a study done by McKinsey and Company called “The economic impact of closing the racial wealth gap.” In this study, McKinsey and Company predicted a bleak future if current race based wealth inequality continues.
“It will end up costing the U.S. economy as much as $1 trillion between now and 2028 for the nation to maintain its longstanding black-white racial wealth gap, according to a report released this month from the global consultancy firm McKinsey & Company. That will be roughly 4 percent of the United States GDP in 2028—just the conservative view, assuming that the wealth growth rates of African Americans will outpace white wealth growth at its current clip of 3 percent to .8 percent annually, said McKinsey. If the gap widens, however, with white wealth growing at a faster rate than black wealth instead, it could end up costing the U.S. $1.5 trillion or 6 percent of GDP according to the firm.”
Brentin Mock, “White Americans’ Hold on Wealth Is Old, Deep, and Nearly Unshakeable,” CITILAB, September 3, 2019,
White Americans' Hold on Wealth Is Old, Deep, and Nearly Unshakeable