Race & economics : how much can be blamed on discrimination?
- Walter E. Williams.
- Stanford, Calif. : Hoover Institution Press, c2011.
- Physical description
- ix, 174 p. ; 24 cm.
- Hoover Institution Press publication 599.
- Williams, Walter E. (Walter Edward), 1936-
- Includes bibliographical references (p. 143-166) and index.
- Blacks today and yesterday
- Is discrimination a complete barrier to economic mobility?
- Race and wage regulation
- Occupational and business licensing
- Excluding blacks from trades
- Racial terminology and confusion
- Summary and conclusions.
Walter E. Williams applies an economic analysis to the problems black Americans have faced in the past and still face in the present to show that that free-market resource allocation, as opposed to political allocation, is in the best interests of minorities. He debunks many common labor market myths and reveals how excessive government regulation and the minimum-wage law have imposed incalculable harm on the most disadvantaged members of our society.
(source: Nielsen Book Data)
Walter E. Williams applies an economic analysis to the problems black Americans have faced in the past and still face in the present to show that that free-market resource allocation, as opposed to political allocation, is in the best interests of minorities. Contrasting the features of market resource allocation with those of the political arena, he explains how, in the political arena, minorities cannot realize a particular preference unless they win the will of the majority. In the market, he shows, there is a sort of parity (nonexistent in the political arena) in which one person's dollar has the same power as the next person's. Williams debunks many common labor market myths and reveals how the minimum wage law has imposed incalculable harm on the most disadvantaged members of our society. He explains that the real problem is that people are not so much underpaid as underskilled and that the real task is to help unskilled people become skilled. The author also reveals how licensing and regulation reduce economic opportunities for people, especially those who might be described as discriminated against and having little political clout. Using the examples of the taxi cab and trucking industries before and after deregulation, he illustrates how government regulation closes entry and reinforces economic handicaps, whereas deregulation not only has helped minorities enter industries in greater numbers but also has benefited consumers.
(source: Nielsen Book Data)
- African Americans > Economic conditions.
- Minorities > United States > Economic conditions.
- Race discrimination > Economic aspects > United States.
- United States > Race relations > Economic aspects.
- Free enterprise > United States.
- United States > Economic policy.
- Income distribution > United States.
- Publication date
- Title Variation
- Race and economics
- Hoover Institution Press publication ; no. 599
- 9780817912444 (cloth : alk. paper)
- 0817912444 (cloth : alk. paper)
- 9780817912451 (pbk. : alk. paper)
- 0817912452 (pbk. : alk. paper)
- 9780817912460 (ebook)
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