Dustcan
Dogs
Since 2000, U.S. gross domestic product lost that much as a result of discriminatory practices in a range of areas, including in education and access to business loans, according to a new study by Citigroup. It’s not an insignificant number: By comparison, U.S. GDP totaled $19.5 trillion last year.And not acting to reverse discriminatory practices will continue to exact a cost. Citigroup estimates the economy would see a $5 trillion boost over the next five years if the U.S. were to tackle key areas of discrimination against African Americans.
Specifically, the study came up with $16 trillion in lost GDP by noting four key racial gaps between African Americans and whites:$13 trillion lost in potential business revenue because of discriminatory lending to African American entrepreneurs, with an estimated 6.1 million jobs not generated as a result
$2.7 trillion in income lost because of disparities in wages suffered by African Americans
$218 billion lost over the past two decades because of discrimination in providing housing credit
And $90 billion to $113 billion in lifetime income lost from discrimination in accessing higher education