Report: Inequality Has Cost The U.S. Economy Trillions Of Dollars Over The Past 20 Years [Infographic]

Report: Inequality Has Cost The U.S. Economy Trillions Of Dollars Over The Past 20 Years [Infographic]

A new report published by Citigroup



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estimates that racial inequality has cost the U.S. economy a mammoth $16 trillion over the past 20 years while the failure to close wage gaps has resulted in up to $12 trillion in lost GDP. Citigroup arrived at the initial figure by finding that the provision of fair and equitable lending to Black entrepreneurs would generate $13 trillion in revenue while closing the Black racial wage gap would result in a further $2.7 trillion. Improved access to housing credit would have also resulted in 770,000 more Black homeowners since 2000 which would have added $218 billion to the economy while better access to education would have boosted lifetime incomes by $113 billion.

The level of racial disparity