The income of blacks in most northern industrial states today is lower relative to the income of whites than in 1949.Fusfeld and Bates examine the forces that have led to this state of affairs and find that these economic relationships are the product of a complex pattern of historical development and change in which black-white economic relationships play a major part, along with patterns of industrial, agricultural, and technological change and urban development. They argue that today's urban racial ghettos are the result of the same forces that created modern America and that one of the by-products of American affluence is a ghettoized racial underclass. These two themes, they state, are essential for an understanding of the problem and for the formulation of policy. Poverty is not simply the result of poor education, skills, and work habits but one outcome of the structure and functioning of the economy. Solutions require more than policies that seek to change people: they await a recognition that basic economic relationships must be changed.
Refuting traditional notions about entrepreneurship and opportunity, scholar Timothy Bates finds that across all racial and ethnic lines, self-employment and upward mobility mainly are open to those who are educated, skilled, and with significant financial resources. Bates's analysis is based largely on the massive Characteristics of Business Owners survey compiled by the U.S. Census Bureau.
Since the 1960s, black businesses have been diversifying and expanding in response to increases in entrepreneurial talent and investment capital. Opportunities created by policies such as procurement set-aside programs have induced better educated, younger blacks to create and expand firms in new lines of business, including wholesaling, contracting, and skill-intensive services. Bates argues that targeting assistance toward these emerging small businesses could go far toward halting the chronic drain of capital and skills suffered by our nation's inner cities. For the research in this book, Bates has been quoted most recently in The Economist and, twice, in The Wall Street Journal, whose editors described him as 'the reigning expert on minority business.' In 1993 Banking was cited in Congressional hearings for its evidence of the positive impact that greater investment in minority-owned firms could have on inner-city poverty.
Since the 1960s, black businesses have been diversifying and expanding in response to increases in entrepreneurial talent and investment capital. Opportunities created by policies such as procurement set-aside programs have induced better educated, younger blacks to create and expand firms in new lines of business, including wholesaling, contracting, and skill-intensive services. Bates argues that targeting assistance toward these emerging small businesses could go far toward halting the chronic drain of capital and skills suffered by our nation's inner cities. For the research in this book, Bates has been quoted most recently in The Economist and, twice, in The Wall Street Journal, whose editors described him as 'the reigning expert on minority business.' In 1993 Banking was cited in Congressional hearings for its evidence of the positive impact that greater investment in minority-owned firms could have on inner-city poverty.
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