Cost Of Racism: U.S. Economy Lost $16 Trillion Because Of Discrimination, Bank Says
By Adedayo Akala
Nationwide protests have cast a spotlight on racism and inequality in the United States. Now a major bank has put a price tag on how much the economy has lost as a result of discrimination against African Americans: $16 trillion.
Since 2000, U.S. gross domestic product lost that much as a result of discriminatory practices in a range of areas, including in education and access to business loans, according to a new study by Citigroup. It’s not an insignificant number: By comparison, U.S. GDP totaled $19.5 trillion last year (Read more).