In this episode, Zach and Ade discuss the role of education and building wealth with Accenture senior strategy consultant, Richard Odior.

Length: 00:33:33
Hosts: Ade | Zach

BeyondtheBag #BankAccount #21

Umbrellas Don’t Make it Rain: Why Studying and Working Hard Isn’t Enough for Black Americans
http://www.insightcced.org/wp-content…

Richard Odior Contact:
email: richard.odior@gmail.com
Instagram : https://www.instagram.com/r.odior/?hl=en
LinkedIn : https://www.linkedin.com/in/richard-o…
Shout outs:
@IAFund
https://twitter.com/IAFund
@kelloggschool
https://twitter.com/KelloggSchool
@mltorg
https://twitter.com/MLTOrg
@uhbauercollege
https://twitter.com/UHBauerCollege
Glazed Donuts
https://www.instagram.com/eatglazed/?…

Check us out here: https://linktr.ee/livingcorporate

TRANSCRIPT OF INTRO

Ade: “Research and public policy have traditionally focused on education and income as drivers of
upward mobility. There is compelling evidence, however, that education alone does little to
explain the source of different levels of economic well-being, especially across race. Observing
an association between higher levels of educational attainment and higher levels of net wealth
and concluding that education produces wealth is tantamount to observing an association
between the presence of umbrellas during rainfalls and concluding that umbrellas cause the rain.
It is more likely that the relative wealth of different races explains the educational attainment
differences across race groups.”

This is from “Umbrellas Don’t Make it Rain: Why Studying and
Working Hard Isn’t Enough for Black Americans” a joint report between The New School, Duke Center for Social Equality, and Insight, a non-profit research entity.

What does this mean for people of color trying to secure the bag? What role, if any, does education play in affecting our income? And if education won’t secure the bag, what will?