Race and Economics
Encyclopedia
Race and Economics is a book by Thomas Sowell
Thomas Sowell
Thomas Sowell is an American economist, social theorist, political philosopher, and author. A National Humanities Medal winner, he advocates laissez-faire economics and writes from a libertarian perspective...

 that analyzes the relationship between race and wealth in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...

, specifically, that of blacks.

He makes three basic arguments. First, he examines the economic impact of slavery
Slavery
Slavery is a system under which people are treated as property to be bought and sold, and are forced to work. Slaves can be held against their will from the time of their capture, purchase or birth, and deprived of the right to leave, to refuse to work, or to demand compensation...

, in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...

, the West Indies, and elsewhere. He distinguishes rural slavery from urban slavery, and circumstances in which blacks so predominated that many economic tasks fell to them of necessity, from circumstances in which blacks were punished for initiative and the development of skills.

Next, he compares the economic skills, circumstances, and successes of American blacks
African American
African Americans are citizens or residents of the United States who have at least partial ancestry from any of the native populations of Sub-Saharan Africa and are the direct descendants of enslaved Africans within the boundaries of the present United States...

, other blacks, Puerto Ricans, Chicano
Chicano
The terms "Chicano" and "Chicana" are used in reference to U.S. citizens of Mexican descent. However, those terms have a wide range of meanings in various parts of the world. The term began to be widely used during the Chicano Movement, mainly among Mexican Americans, especially in the movement's...

s, Jews, Irish
Irish people
The Irish people are an ethnic group who originate in Ireland, an island in northwestern Europe. Ireland has been populated for around 9,000 years , with the Irish people's earliest ancestors recorded having legends of being descended from groups such as the Nemedians, Fomorians, Fir Bolg, Tuatha...

, Italians
Italian people
The Italian people are an ethnic group that share a common Italian culture, ancestry and speak the Italian language as a mother tongue. Within Italy, Italians are defined by citizenship, regardless of ancestry or country of residence , and are distinguished from people...

, Scot
Scot
A Scot is a member of an ethnic group indigenous to Scotland, derived from the Latin name of Irish raiders, the Scoti.Scot may also refer to:People with the given name Scot:* Scot Brantley , American football linebacker...

s, and other ethnic group
Ethnic group
An ethnic group is a group of people whose members identify with each other, through a common heritage, often consisting of a common language, a common culture and/or an ideology that stresses common ancestry or endogamy...

s. He notes statistical quirks; e.g., comparisons of per capita income need to be checked against the median age of the groups concerned. The median age of Russians
Russians
The Russian people are an East Slavic ethnic group native to Russia, speaking the Russian language and primarily living in Russia and neighboring countries....

 in the U.S. at the time of the book's publishing (1975) was 47, of the Irish 36, of blacks 23, of Puerto Ricans, 18. Income tends to be higher in higher age cohorts; and unemployment tends to be higher in lower cohorts. If one matches age cohort to age cohort--those in their twenties, in their thirties, in their forties, etc., comparisons are considerably more just.

He also argues that the stark comparisons between "whites" and "blacks" are misleading.

His third argument criticizes past governmental and economic policies, and opens up questions for the future. He has criticisms to make of liberals
Liberalism
Liberalism is the belief in the importance of liberty and equal rights. Liberals espouse a wide array of views depending on their understanding of these principles, but generally, liberals support ideas such as constitutionalism, liberal democracy, free and fair elections, human rights,...

, radicals
Extremism
Extremism is any ideology or political act far outside the perceived political center of a society; or otherwise claimed to violate common moral standards...

, and conservatives
Conservatism
Conservatism is a political and social philosophy that promotes the maintenance of traditional institutions and supports, at the most, minimal and gradual change in society. Some conservatives seek to preserve things as they are, emphasizing stability and continuity, while others oppose modernism...

, each of whom, he finds, protect their favorite illusions with respect to blacks.

Race and Economics greatly influenced Supreme Court
Supreme Court of the United States
The Supreme Court of the United States is the highest court in the United States. It has ultimate appellate jurisdiction over all state and federal courts, and original jurisdiction over a small range of cases...

 Justice Clarence Thomas
Clarence Thomas
Clarence Thomas is an Associate Justice of the Supreme Court of the United States. Succeeding Thurgood Marshall, Thomas is the second African American to serve on the Court....

.
The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
 
x
OK