[Zhang Fei]

That is one of the reasons that affluent black households often end up less wealthy than white households with identical incomes and education levels. Women exhibit similarly risk-averse investing behavior with the same result.

I don't think it's cultural at all. Racial and gender quotas have resulted in a system where people are promoted way above their abilities - a system with a supercharged Peter Principle.

[neverdem]

"That is one of the reasons that affluent black households often end up less wealthy than white households with identical incomes and education levels. Women exhibit similarly risk-averse investing behavior with the same result."

I don't think it's cultural at all. Racial and gender quotas have resulted in a system where people are promoted way above their abilities - a system with a supercharged Peter Principle.

IMHO, I think it's both, from Archie Bunker stereotypes in the popular media to de facto reverse discrimination against white males in general, and more recently, reverse discrimination against the admissions of East Asians at elite colleges and universities.