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 4/10 Good --- themoderatevoice.com http://feeds.feedburner.com/themoderatevoice
| Domestic and international news analysis, irreverent comments, original reporting, and popular culture features from across the political spectrum. ... |
Saturday, May 17, 2008 --- 69 days ago http://feeds.feedburner.com/~r/themoderatevoice/~3/292424983/
| Bill Cosby has famously accused blacks of spend money unwisely, buying expensive sneakers rather than investing in their kids’ education and thereby reinforcing harmful stereotypes.
Research by Wharton’s Nikolai Roussanov, and Erik Hurst and Kerwin Charles of the University of Chicago has shown that what they’re doing is we all do — black, white, and hispanic — it’s called status signaling .
Knowledge@Wharton:
What really matters, Roussanov, Charles and Hurst found, is not one’s race but one’s economic situation relative to the “reference group” — people in the immediate community. “This is not really about race in the end. It is simply about what we observe about you and what peer group you belong to,” Roussanov says.
Poor blacks and poor whites both spend more on visible goods if they live in poor communities, because such spending gives them more status relative to others in the community. But poor blacks and poor whites living among wealthier people do not devote extra portions of income to visible expenditures, since they are too far behind to get more status from the extra spending they can afford. Moreover, the very fact of belonging to a particular group provides observers with information about one’s likely income (e.g. blacks are on average poorer than whites).
A low-income white person in Alabama, for example, is likely to spend more on visible goods than a low-income white person in Massachusetts. That’s ... |
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