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www.axios.com: The myth of closing the racial wealth gap by being

Read Full Article Here: https://www.axios.com/racial-wealth-gap-model-minorities-0a985230-565a-4561-8593-6cb32888e107.html

A prevailing myth about the wealth gap between white and Black Americans is that it could be closed if Black people valued hard work and education like so-called model minorities, typically Asians and other recent U.S. immigrants.

The big picture: The success of recent immigrants and “model minorities” has much to do with U.S. immigration laws.

Between the lines: A 2019 study from Georgetown finds wealth is a better predictor of college acceptance and future success than intelligence or high test scores.

The intrigue: Research also shows that post-graduate education helps Black Americans less than it does white or Asian Americans to attain wealth and higher incomes.

“The median family incomes of all nonwhite groups trailed their equally educated white counterparts,” a 2017 St. Louis Fed study found.

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