09/24/2020

Citigroup Finds Racism Has Cost the U.S. $16 Trillion

Racial inequality has always had an outsized cost

America could have been $16 trillion richer if not for inequities in education, housing, wages and business investment between Black and White Americans over the past 20 years, new research concludes. 

The study, released this week by Citigroup, is the latest in a body of research that attempts to quantify the economic impact of systemic racism.

Citigroup arrived at its $16 trillion figure after estimating that Black workers have lost $113 billion in potential wages over the past two decades because they couldn't get a college degree. The housing market lost $218 billion in sales because Black applicants couldn't get home loans.

Please select this link to read the complete article from CBS News.