Liked what you read? I am available for hire.
"The differences in spending on clothing, jewelry, and cars, for example, can explain half of the differences in wealth between the races (conditional on permanent income) and a significant share of the differences in education and health spending." From Marginal Revolution. The purpose of this post is reasonable discussion, not "See I told you so." I don't know why blacks and Hispanics spend a larger proportion of their expenditures on clothes and cars than whites.