By Cecilia A. Conrad, John Whitehead, Patrick L. Mason, James Stewart
The forty-three chapters in African american citizens within the U.S. economic system specialize in quite a few points of the industrial prestige of African american citizens, prior and current. Taken jointly, those essays current comparable issues: first, in terms of economics, race issues; moment, racial financial discrimination and inequality persist regardless of the positive predictions of ordinary fiscal research that racial discrimination can't thrive in a free-market economic climate.
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Extra resources for African Americans in the U.S. Economy
Trotter observes, “Artisans were the most numerous of the self-hirees,” including “carpenters, tailors, seamstresses, and mechanics” (2001, 167). Roger Ransom and Richard Sutch provide a useful reminder that “only about 6 percent of adult male slaves held occupations above those of agricultural worker, unskilled laborer, or house servant” (1977, 15). The sizable number of enslaved blacks with technical skills is a reminder that exploitation of enslaved blacks was not restricted to physical labor.
Some of the produced income ﬁnanced conspicuous consumption by planters, who would spend excessively on luxury items. Other income was converted into personal wealth holdings— namely, ﬁnancial assets and real estate. Some income provided capital that ﬁnanced large-scale industrial ventures, often in partnership with Northern interests. Accounting for the outcomes of these ﬂows and transactions is problematic because much of the accumulated wealth of the slave regime was destroyed by the Civil War.
S. Economy In assessing the contributions of blacks to pre–Civil War economic growth, it is important to recognize that black labor was exploited outside of plantation agriculture as well. A useful context for discussing this issue is provided by Fogel’s claim (1989, 101) that although the nonagricultural sector accounted for less than a quarter of Southern output in 1840, it was the source of about 40 percent of all the increase in the region’s per-capita income during the last two decades of the antebellum era.
African Americans in the U.S. Economy by Cecilia A. Conrad, John Whitehead, Patrick L. Mason, James Stewart