Brendan O’Flaherty brings the tools of economic analysis—incentives, equilibrium, optimization—to bear on racial issues. From health care, housing, and education, to employment, wealth, and crime, he shows how racial differences powerfully determine American lives, and how progress in one area is often constrained by diminishing returns in another.

Brendan O’Flaherty brings the tools of economic analysis—incentives, equilibrium, optimization, and more—to bear on contentious issues of race in the United States. In areas ranging from quality of health care and education, to employment opportunities and housing, to levels of wealth and crime, he shows how racial differences among blacks, whites, Hispanics, and Asian Americans remain a powerful determinant in the lives of twenty-first-century Americans. More capacious than standard texts, The Economics of Race in the United States discusses important aspects of history and culture and explores race as a social and biological construct to make a compelling argument for why race must play a major role in economic and public policy. People are not color-blind, and so policies cannot be color-blind either. Because his book addresses many topics, not just a single area such as labor or housing, surprising threads of connection emerge in the course of O’Flaherty’s analysis. For example, eliminating discrimination in the workplace will not equalize earnings as long as educational achievement varies by race—and educational achievement will vary by race as long as housing and marriage markets vary by race. No single engine of racial equality in one area of social and economic life is strong enough to pull the entire train by itself. Progress in one place is often constrained by diminishing marginal returns in another. Good policies can make a difference, and only careful analysis can figure out which policies those are.

Walter E. Williams applies an economic analysis to the problems black Americans have faced in the past and still face in the present to show that that free-market resource allocation, as opposed to political allocation, is in the best interests of minorities. He debunks many common labor market myths and reveals how excessive government regulation and the minimum-wage law have imposed incalculable harm on the most disadvantaged members of our society.

For every dollar owned by the average white family in the United States, the average family of color has less than a dime. Why do people of color have so little wealth? The Color of Wealth lays bare a dirty secret: for centuries, people of color have been barred by laws and by discrimination from participating in government wealth-building programs that benefit white Americans. This accessible book—published in conjunction with one of the country’s leading economics education organizations—makes the case that until government policy tackles disparities in wealth, not just income, the United States will never have racial or economic justice. Written by five leading experts on the racial wealth divide who recount the asset-building histories of Native Americans, Latinos, African Americans, Asian Americans, and European Americans, this book is a uniquely comprehensive multicultural history of American wealth. With its focus on public policies—how, for example, many post–World War II GI Bill programs helped whites only—The Color of Wealth is the first book to demonstrate the decisive influence of government on Americans’ net worth.

This important book delivers a critical wake-up call: a fierce global race for innovation advantage is under way, and while other nations are making support for technology and innovation a central tenet of their economic strategies and policies, America lacks a robust innovation policy. What does this portend? Robert Atkinson and Stephen Ezell, widely respected economic thinkers, report on profound new forces that are shaping the global economy—forces that favor nations with innovation-based economies and innovation policies. Unless the United States enacts public policies to reflect this reality, Americans face the relatively lower standards of living associated with a noncompetitive national economy.The authors explore how a weak innovation economy not only contributed to the Great Recession but is delaying America's recovery from it and how innovation in the United States compares with that in other developed and developing nations. Atkinson and Ezell then lay out a detailed, pragmatic road map for America to regain its global innovation advantage by 2020, as well as maximize the global supply of innovation and promote sustainable globalization.