Tag: Latino families

In 1967, Dr. Martin Luther King Jr. came to Stanford University to deliver the first iteration of his speech, “The Other America.” Dr. King called attention to the disparate “two Americas” in which whites and Blacks lived – one filled with potential and prosperity and the other filled with “blasted hopes and shattered dreams.” When Dr. King gave this speech in 1967, the Civil Rights Movement was at a turning point.

The 10th annual Martin Luther King Jr. Day report by UFE explains that the Great Recession took a greater portion of wealth from Black and Latino families than it did from White families. Today, the average net worth of White families is, respectively, more than six times higher and 5.7 times higher than the average Black and Latino families. Median wealth disparities are even greater.