Cost of Racism: Discrimination Cost US Economy $16 Trillion

Citi's top economists say that anti-Black discrimination has cost the U.S. economy $16 TRILLION over the last twenty years.

Their analysis shows that if four key racial gaps for Blacks - wages, housing, education and investment - were closed in the year 2000, the U.S. could have added $16 trillion to the economy.

Here's a breakdown of where that money was lost:

$13 trillion and 6.1 million jobs lost from discriminatory lending practices

$2.7 trillion in lost income because of wage disparities

$218 billion lost due to housing discrimination

If Black Americans had equal access to higher education, $113 billion in lifetime income would have been added to the economy since 2000.

Citi's Vice Chairman reports that if the racial gaps were closed today, the US economy could add $5 trillion over the next five years.


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