Race and economics: how much can be blamed on discrimination?

By: Williams, Walter E
Material type: TextTextSeries: Hoover Institution Press publication; 599Publisher: California Hoover Institution Press 2011Description: ix, 174 p. Includes bibliographical references and indexISBN: 9780817912451Subject(s): Minorities - Economic conditions | Race discrimination | African Americans - Economic conditions | Income distributionDDC classification: 330.9730896073 Summary: 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 under skilled 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 not helped minorities enter industries in greater numbers but also has benefited consumers. https://www.hoover.org/research/race-economics-how-much-can-be-blamed-discrimination
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Slot 561 (0 Floor, West Wing) Non-fiction 330.9730896073 W4R2 (Browse shelf) Available 202903

Table of contents:

Ch 1. Blacks today and yesterday
Ch 2. Is discrimination a complete barrier to economic mobility?
Ch 3. Race and wage regulation
Ch 4. Occupational and business licensing
Ch 5. Excluding blacks from trades
Ch 6. Racial terminology and confusion
Ch 7. 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. 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 under skilled 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 not helped minorities enter industries in greater numbers but also has benefited consumers.

https://www.hoover.org/research/race-economics-how-much-can-be-blamed-discrimination

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