The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Race and Economics

  • H. Stanback
Reference work entry


The concept of race enters formal economic theory through a range of areas primarily within labour economics. These include discrimination, inequality, human capital, labour market competition and segmentation, and class relations. The first substantive attention by neoclassical theory to the economic problems posed by race began with the work of Gary Becker in 1957 which approaches the subject from the standpoint of discrimination. (Race is addressed from a structural standpoint by Marx in Capital, Volume I, through his analysis of the impact of slavery and the slave trade on the working class of the United States.)

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • H. Stanback
    • 1
  1. 1.