Race and Economics is a book by Thomas Sowell, in which the author analyzes the relationship between race and wealth in the United States, specifically contrasting groups like African Americans, Caribbean Americans, Italian Americans, and Japanese Americans. The book was initially published by David McKay Company in 1975 and reprinted by Longman in 1977 and 1982.
The book was praised by Elliott Abrams and James Tobin, and U.S. Supreme Court Justice Clarence Thomas cited the book as a major influence.
Overview
Sowell makes three basic arguments. First, he examines the economic impact of slavery, in the United States, the West Indies, and elsewhere. He distinguishes rural slavery from urban slavery, and circumstances in which blacks so predominated that many economic tasks fell to them of necessity, from circumstances in which blacks were punished for initiative and the development of skills.
Next, he compares the economic skills, circumstances, and successes of American blacks, West Indian blacks, Puerto Ricans, Mexicans, Jews, Irish, Italians, Scottish, and other ethnic groups.
His third argument criticizes past governmental and economic policies, and opens up questions for the future. He has criticisms to make of liberals, radicals, and conservatives, each of whom, he finds, protect their favorite illusions with respect to blacks. Tobin was complimentary of the book's "disposing of the crude ideologies of exploitation and discrimination" while questioning Sowell's "confidence in the benign outcomes of unfettered markets and social adaptation".
Reviewing the book for Commentary in 1975, Elliott Abrams considered it "extremely useful" for "apply[ing] logic and economic analysis to group history" and "defy[ing] the conventional wisdom".} Allan C. Brownfield called the book "eloquent and honest" in 1976 for The Freeman.
Race and Economics greatly influenced Supreme Court Justice Clarence Thomas.