From Cotton to Coca-Cola: A Family History Case Study on the Limitations of Higher Education to Close the Generational Wealth Gap
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Abstract
This article is a family history that supported the relationship between slavery and generational wealth. The research documented the history of two Moffett families who were probably not related biologically—a White one who owned a Black one with the same last name. However, the two family histories revealed a larger and more complicated narrative about the origins and intractable roots of American inequality that follows the trail of my slave ancestors to one of the most well- known and wealthiest international corporations in the world—from cotton to Coca-Cola. This is the account of a set of conditions that, while assisting Whites to acquire generational wealth, prevented Black people from doing the same. The piece discusses how generational wealth is accumulated and maintained and argues that higher education alone has provided limited opportunities for Black families to acquire and maintain generational wealth. Recommendations included attention to individual and institutional racism, particularly the structural factors that White families have used to leverage their income and wealth, notably government programs, political and social contacts, access to financial resources, and privileged information about economic opportunities.
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