There is a narrative about US history that goes like this: “Historical racism was really bad and limited opportunities for blacks. Blacks were not allowed to participate in a set of occupations and other civic life. The absence of blacks from typically higher income occupations reduced the number of competitors in those sectors. Not only did blacks have fewereconomic opportunities, the whites who were insulated from competition earned monopoly rents. Therefore, if blacks were excluded, the whites who were in exclusive sectors earned profits at the expense of blacks.”
The logic is neat. Are there any holes in it?Let’s see.
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