Without a course correction, French economist Thomas Piketty warned, we are hurtling toward a grotesquely unequal future. A future governed by a hereditary aristocracy composed of the progeny of today’s billionaires.

In his assessment, however, Piketty overlooked the “peculiar institution” of our nation’s original sin. The color of what Piketty calls our “patrimonial capitalism” will be almost exclusively white.

Progress in race relations has done little to narrow the racial wealth divide. If average black wealth grows at the same rate it has over the last 30 years, it will take another 228 years before it equals the amount of wealth currently possessed by white households.

Read the full article on The Hill’s website.

Chuck Collins directs the Program on Inequality and the Common Good at the Institute for Policy Studies.  Dedrick Asante-Muhammed is the director of the Racial Wealth Divide Initiative at the Corporation for Enterprise Development.