A Different Vision: African American Economic Thought by Thomas D Boston

By Thomas D Boston

This paintings brings jointly for the 1st time the guidelines, philosophies and interpretations of North America's major African American economists, demonstrating that racial inequality has had a massive effect on African american citizens' day-by-day lives.

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RACIAL DISCRIMINATION AND CONSUMER BEHAVIOR In the summer of 1963, when I was Deputy Assistant Secretary in the US Department of Commerce, I was asked to undertake a study to assess the burden of racial discrimination on interstate commerce. The results were presented as testimony before the Commerce Committee of the US Senate when it was considering the Public Accommodations section of the measure which became the Civil Rights Act of 1964. Later the United States Supreme Court cited that testimony in upholding the constitutionality of the Act.

The figures show self-employed businessmen, by race and industry, in 1950 and 1960, as reported in the US Census of Population. Since the vast majority of black firms were proprietorships, the data on self-employment provide a fairly complete profile of black-owned businesses. 4 per cent of the total in the nation at large. 7 per cent) of the black businessmen were engaged in retail trade – which was primarily serving black consumers. 4 per cent of the total. 4 per cent. 7 per cent). An alternative comparison shows the same degree of concentration by blacks on the segregated consumer market.

Individuals’ accumulated contributions to Social Security (which will generate future retirement income) were also excluded. The Census Bureau data show ‘net worth’, the measure which represents the market value of the specified assets owned by households minus the households’ total liability. 2 billion. 2 billion. 2 per 17 43,131 985,512 149,794 32,443 213,653 466,357 706,501 410,754 2,822,332 298,853 613,389 169,484 6,912,202 2,391,693 Regular checking accounts Interest-earning assets at fin.

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