The Economics of Race and Income Disparity: An Analysis into Why Educational Progress Failed to Reduce Economic Disparity Between African Americans and Whites from 1980-2000
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Authors
Carr, Michael
Issue Date
2003
Type
Thesis
Language
en_US
Keywords
Alternative Title
The African American-White Income Gap 1980-2000: Why African American Educational Progress Did Not Reduce Economic Disparity
Abstract
Economics, in my opinion, is a discipline that should be founded in social responsibility
instead of economic responsibility. While these two ideas often go hand in hand, it is not
always the case. As I go further in my study of economics, I have begun to question
mainstream economics. The notion that the free market benefits all does not seem to
apply to the real world. Though one can argue that we have never truly had a free
market, and therefore the theory has never actually been tested, the movements in the
1980's and 1990's towards a freer market has not equally benefited all. My choice of
inequality as the topic for this paper is a reflection of my deep-rooted commitment to
society as a whole.
I see the increase in inequality, domestically and internationally, as a failure of
mainstream theory to perform the basic function of economics: improve the lives of
everyone. In light of this, I have chosen a small chunk of the study of inequality, the
disparity between African American and white family income within the United States,
as a starting point for my career in economics.
This topic raises two fundamental issues in the American economy, which
Americans generally do not like to face: American capitalism does not provide equal
opportunity to everyone for success, mainstream theory does not accurately explain the
determinants of income the source of inequality, and that the barrier to success may be a
result of American attitudes and actions. I feel that it is important to revisit the race
debate of the 1940's, 1950's, and 1960's to help the American economy reach the goal
Americans have established for it, equal opportunity for all. This paper is my first
attempt to contribute to the renewal of this debate.
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v, 59 p.
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