The decade of the 1990s represents one of the longest periods of sustained prosperity in the post-World War II era. Unemployment rates have fallen to unprecedented sustained lows. A Economy of highly technical occupations relies heavily on a virtual world where paper transactions increasingly are becoming obsolete. This has contributed to phenomenal growth in the traded value of Internet businesses and companies, leading to an incredible accumulation of wealth among young entrepreneurs and those who have invested in the New Economy. This paper argues that black families have not shared in these improvements. Whereas the ratio of black to non-Hispanic white family incomes was .61 in 1990, it was .59 in 1999. The ratio rose in the early 1990s, peaking at .64 in 1995, and fell thereafter. The timing of the peak and decline curiously parallels the timing of the rapid rise in dot.com companies, increased salaries for recent graduates in high tech areas, and the general take-off of the New Economy. While conventional wisdom states that a rising tide lifts all ships, on the basis of virtually every available measure of relative income and eamings position, blacks were worse off at the end of the 1990s than they were at the beginning. This empirical