7: The Racial and Class Dimensions of Wealth Governance

The preceding analysis of wealth concentration and democratic governance has largely treated wealth as if it accumulates neutrally, without systematic patterns of racial and class stratification. This chapter corrects that omission by examining how wealth accumulation, inheritance and philanthropic deployment are deeply racialised and classed processes. Understanding these dimensions is essential for designing democratic wealth governance that addresses rather than perpetuates structural inequality.

Wealth in the United States and globally is not distributed randomly but follows clear racial patterns reflecting centuries of exploitation, exclusion and discrimination. These patterns are not historical artefacts but ongoing structural features requiring explicit attention in wealth governance.