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The Political Economy of Racism
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Why does racial inequality in America persist? In this important textbook, Michelle Holder and Jeannette Wicks-Lim answer this question by introducing readers to the innovative field of stratification economics. Stratification economics offers an antidote to conventional economics’ hyper-focus on individuals and disregard for how politics shapes the economy. It spotlights how groups – such as racial groups – compete to gain favorable positions in society through political and economic domination. The book fuses stratification economics with intersectional theory to illuminate how gender and ethnicity intertwine with racial oppression. Holder and Wicks-Lim argue that anti-Black racism developed and persists because it protects the interests of a politically dominant social group: White Americans. This argument is demonstrated across multiple arenas: education, employment, wealth, and the criminal legal system. Policy intervention – through government action spurred by social movements – is necessary for achieving racial equity.
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