economics

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Race and Money: Blacks Seen as Darker During Tough Economic Times

See on Scoop.it – Community Village Daily

Tough economic times aren’t just hard on the wallet, they’re hard on race relations, too, a new study suggests.

 

Community Village‘s insight:

 

One of the statements in the experiment: “When Blacks make economic gains, Whites lose out economically”

 

The experiment indicates to me that when times are tough people become more xenophobic and less logical.

 

People who are against immigration also have views about loosing out economically, not realizing the fact that a larger population leads to economic gains for all.

 

See on blogs.discovermagazine.com

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The Color of Wealth: The Story Behind the U.S. Racial Wealth Divide

 

“For every dollar owned by the average white family in the United States, the average family of color has less than a dime. Why do people of color have so little wealth? The Color of Wealth lays bare a dirty secret: for centuries, people of color have been barred by laws and by discrimination from participating in government wealth-building programs that benefit white Americans.”

 

 

Community Village‘s insight:

 

Book recommended by Joanna Shoffner Scott and Paula Dressel of Race Matters Institute

 

See on www.amazon.com

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25 Images of Markets “Regulating Themselves”

 

“When economists talk about how a market “regulates itself,” what they mean is that markets reach an equilibrium between supply and demand.

 

This says nothing about whether or not this equilibrium will be a good thing for society. It simply states that if consumers choose what to buy and producers choose what to sell and how to produce it, the market settles on a product distribution and prices.

 

Lately, many people I know have argued that “free markets” mean something more. They see markets as ethically right or ethically moral, meaning pursuit of profit always somehow leads to a greater good.

 

Unfortunately, morality isn’t built into markets.”
See on www.dailykos.com