Michal Hancock's Chapter Summary

Denver mayor Michal Hancock argues that the decreasing prevalence of nuclear families causes much of the increasing race based disparities. Single parent households have more financial strain which in turn reduces education opportunities and standard of living. Hancock acknowledges that there is no single reason for a larger percentage of single parents in African American and other ethnic groups, but he highlights employment discrimination and a biased justice system along with drug use. He is still convinced that we can “turn the dial” of racial inequalities by supplying good education and mentorship programs as well as by giving parent tools for helping their children both in the classroom and outside of it.
The points Hancock focuses on explain how the way ethnic children are raised—namely by a single parent—affects their support system, finances, and education. He mainly focuses on education though—with …show more content…
Personal finance is never taught in schools, and most poor parents never had it taught to them. Then the following generation has the same lack of financial knowledge as their parents and the financial inexperience continues. The rich educate themselves but without intervention, the lower class cannot escape the cycle of poverty. He doesn’t just call on the government for change though, but challenges the individual to help and take on a “village mentality.”
Nelson’s given perspective, like Hancock’s, focuses on education and parenthood. However, Nelson focuses more on personal finance knowledge rather that general education and employment. The main problem Nelson discusses is how the poor use their money rather than how they make it. He also talked about how this lack of knowledge is cyclical, similar to the issues given by