Top of Mind on Racial Economic Equality By Goldman Sachs

How do we close the large and persistent earnings and wealth gaps central to racial inequality in America? That’s the subject of the latest episode of Top of Mind at Goldman Sachs, which examines policy solutions to these pressing questions. For Kerwin K. Charles, dean and professor at the Yale School of Management, the most important step is to address higher education deficits in Black communities. “We’ve got to close the gap where the labor market cares about it,” Charles said in a conversation with Goldman Sachs Research senior strategist Allison Nathan. “The labor market cares about college-level training, that’s task one.” As for the racial disparities in healthcare underscored by the pandemic, Dr. John Z. Ayanian, director of the Institute for Healthcare Policy and Innovation at the University of Michigan, emphasized that increasing access to high-quality healthcare is key. “We know that rates of uninsurance are higher among Black Americans than white Americans. And so, by reducing gaps in insurance coverage, we are likely also reducing disparities in health outcomes.” Finally, Nathan interviewed Margaret Anadu, head of Goldman Sachs’ Urban Investment Group, who emphasized the importance of access to private capital. “To close the racial wealth gap, private capital has to be part of the solution because it sits at the center of wealth creation in our country,” Anadu said.


 

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