Black-white differences in achievement: The importance of wealth

In this article, the author argues that wealth, which is an indicator of both financial and human capital, can affect academic achievement, as well as help to explain the gap in black-white test scores. Analyses reveal that wealth affects achievement through its effect on the amount of cultural capital to which a child is exposed. Because blacks have substantially less wealth than do whites, wealth can help to explain a portion of the racial achievement gap. The implications of the findings are discussed.