The Privileges of Wealth

Focusing on the systemic features of wealth accumulation in the U.S., the book examines four key pathways: household saving, asset appreciation, family gifts, and federal policies. It argues that these pathways create virtuous cycles for the wealthy while trapping the poor in vicious circles, contributing to increasing disparities, especially the racial wealth gap. The author presents a strong case that current policies are eroding the American Dream for the majority and entrenching a White plutocracy, leading to significant societal consequences.