Jun 22, 2020

Racism: missing in action in Econ 101

Tim Koechlin writes:

Why are white people in the US richer than African Americans? If an ECON 100 student (or an economics major) has a rich answer to this question, it is unlikely that they learned it from their intro to economics textbook.

With this yawning silence, mainstream economics leaves a profoundly important economic question unanswered. But more than this, the mainstream narrative obscures, ignores and erases many of the essential ways in which the long history of racism in the US has produced and reproduced enduring racial inequality. And more still, it celebrates the power of markets to “punish” and minimize “discriminatory behavior.”

Read more here.