Race & Economics
by Walter Williams
Economist Walter Williams begins Race & Economics with a fairly obvious observation: minorities in the United States have often faced economic barriers due to racism. But while many people claim that the best way to handle this situation is through political action, Williams proffers a different solution: allow the free market to work. Williams spends his book making the case that energy expended in the political sphere is often ineffective – and, indeed, Williams observes that legislation supporting minimum wage laws, occupational licensing and unionization have, often intentionally, made it more difficult for minorities to achieve equality. Williams’ argument is ultimately based on the truth that the free market is a better, more effective path to freedom and equality than politics. His conclusions are well-reasoned and based in facts, which is why they are destined to be rejected by the political class.
Praise for Race & Economics
“Many people lack an understanding of both the subtle working of markets and the perverse outcomes of politics, and react emotionally to race-related issues. …Race and Economics…serves as a starting point for debate on the relative merits of public policy and private competition regarding racism.” – The Freeman
“It is a demolition derby on paper, as Professor Williams destroys one after another of the popular fallacies about the role of race in the American economy.” – Thomas Sowell, author of Economic Facts and Fallacies
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