The Economics of Racial Discrimination
In this paper we demonstrate that a Walrasian, competitive general equilibrium is consistent with some agents as a group dying off faster than the rest and having a worse quality of life. This may also be seen as an application of neoclassical labor economics to the problem of race relations in the United States at the turn of the century. Yet another view would indicate that panicle neoclassical model of an economy is rich enough to explain the stylized facts of race relations in the United States. We merely provide an existence result. This sets a lowered standard for the burden of proof of existence, and that makes our task easier.
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Volume (Year): 57 (2004)
Issue (Month): 3 ()
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