Sulon Bibb Stedman Professor of Economics Bob Williams recently presented two papers at the ASSA national conference in New Orleans.
His first paper, entitled “Federal Funding of White Supremacy: Past and Present,” generates preliminary estimates of how much of the current $86 trillion in wealth held by White households may be attributable to past and current federal programs. Since its inception, the federal government has implemented policies to help families build wealth. Historically these policies include homestead acts, the G.I. Bill, and Constitutional protections of chattel slavery. Of course, these policies targeted their benefits to White households. More recently, 13 federal tax expenditures target wealthy households to the tune of more than $1 trillion annually.
According to his estimates, between one-half and three-quarters of current White wealth can be attributed to past and present federal policies.
His second paper, entitled “Returning to the (Ricardian) Land: Housing Policy as a Source of Economic Stratification,” focuses on the unique qualities of land as an economic resource unlike any other. The paper’s origins stem directly from Bob’s "Political Economy of Housing" class from last spring and therefore reflects the rich intersection of learning, teaching, and scholarship that makes Guilford College unique. The paper discusses insights learned from the class and their impact on Bob’s scholarship and policy prescriptions. Special thanks go to the students in that class.
This work benefited from the generous assistance of the Kenan Faculty Development funds. These funds remain intact and available today largely due to the efforts of Carol Stoneburner, who died in December 2022.