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Wealth distribution and its impact on minorities

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The Review of Black Political Economy

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Notes

  1. U.S. Department of Commerce,The Social and Economic Status of the Black Population in the U.S., Bureau of the Census (1971).

  2. Otto Kerner et al.,Report of the National Commission on Civil Disorders (New York: New York Times Publishing Co., 1969).

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  3. Ben Wattenberg and Richard Scammon, “Black Progress and Liberal Rhetoric,”Commentary (April 1973).

  4. John B. Lansing and John Sonquist, “A Cohort Analysis of Changes in the Distribution of Wealth,” inSix Papers on the Size Distribution of Wealth Income, edited by Lee Soltow (New York: National Bureau of Economic Research, 1964).

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  5. Eugene R. Melander, “Long-Term Household Saving: Some Models and Their Empirical Evaluation,” unpublished Ph.D. dissertation, University of Minnesota (1966).

  6. Henry S. Terrell, “The Wealth Accumulation of Black and White Families,” proceedings of the American Economic Association (May 1971).

  7. Survey of Consumer Finances, Survey Research Center, University of Michigan (1963).

  8. Dorothy S. Projector and Gertrude S. Weiss,Survey of Financial Characteristics of Consumers, Board of Governors, Federal Reserve System (1966).

  9. See Terrell, op. cit. for information regarding these two surveys.

  10. John B. Lansing and Harold Lydall, “A Comparison of Distribution of Personal Income and Wealth in the U.S. and Great Britain,”American Economic Review (March 1959).

  11. Survey of Consumer Finances.

  12. The original Atlanta University Publications are reprinted in W.E.B. Du Bois (ed.)The Atlanta Publications, Nos. 1-11, 2 Volumes (New York: Octagon Books, 1968);The Philadelphia Negro: A Social Study (Philadelphia: University of Pennsylvania, 1899).

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  13. Abram Harris,The Negro as Capitalist, American Academy of Political and Social Science, Philadelphia (1936).

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  14. Joseph Pierce,Negro Business and Education (New York: Harper & Brothers 1942).

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  15. E. Franklin Frazier, Black Bourgeoisie (New York: Free Press, 1957).

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  16. U.S. Department of Commerce, Bureau of the Census,Minority Owned Business: 1969 (Washington, D.C.: Government Printing Office, 1971).

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  17. U.S. Department of Commerce, Bureau of the Census,Negro Population in the United States 1790-1915 (Washington, D.C.: Government Printing Office, 1918).

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  18. U.S. Department of Commerce, Bureau of the Census,Negroes in the U.S., 1920-1932 (Washington, D.C.: Government Printing Office, 1935).

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  19. The first publication in this series was U.S. Department of Commerce, Bureau of the Census,Social and Economic Conditions of Negroes in the United States, Current Population Reports, Series P-23 (Washington: Government Printing Office, October 1967).

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  20. Michael Zweig, “Black Capitalism and Ownership of Property in Harlem,” Working Paper No. 16, Economics Department, State University of New York at Stony Brook (1970).

  21. Studies have indicated that blacks tend to save more out of a given income than whites. However, the “permanent income” hypothesis, which explains this behavior in terms of black expectation of lower life-time earnings, implies that the motivation for such saving is a precautionary one —i.e., savings are to be used for unexpected consumption expenditures of the family. Hence this saving represents not long-term asset accumulation but a petty cash fund. (See Terrell,The Wealth Accumulation of Black and White Families, for a discussion of the literature on black-white survey differential; and Miltion Friedman,A Theory of the Consumption Function, a Study by the National Bureau of Economic Resarch. General Series, No. 63. New York: Bureau of Economic Research, 1966.

  22. U.S. Department of Commerce, Bureau of the Census,The Social and Economic Status of the Black Population in the United States, Current Population Reports, Series P-23, No. 43 (Washington, D.C.: Government Printing Office, 1971).

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  23. Robert S. Browne,Only Six Million Acres: The Decline of Black-Owned Land in the Rural South (Black Economic Research Center 1973).

  24. See Terrell,The Wealth Accumulation of Black and White Families.

  25. For a description and analysis of this method, see Robert L. Lampman,Changes in the Share of Wealth-Holders, 1922-1953 (New York: National Bureau of Economic Research, 1960). pp. 27–56.

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  26. See Terrell,The Wealth Accumulation of Black and White Families.

  27. See Terrell,The Wealth Accumulation of Black and White Families.

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Authors
  1. Robert S. Browne
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Originally published inThe Review of Black Political Economy, Vol. 4, No. 4 (Summer 1972) pp. 27-37.

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Browne, R.S. Wealth distribution and its impact on minorities. The Review of Black Political Economy 21, 111–120 (1993). https://doi.org/10.1007/BF02701709

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