‘Stratification’ Theory Tackles the Racial Blindspots of Orthodox Economics

The video explores stratification economics, critiquing orthodox economics for failing to address persistent group inequality. It discusses how group dynamics and identity investment can yield economic returns, highlighting the historical context of policies like the New Deal and their role in perpetuating inequality. The labor movement's racial dynamics and the impact of austerity on social tensions are examined. The video concludes by emphasizing wealth as a social determinant, noting its iterative nature and influence on economic security.

What are some of the critiques of the New Deal in relation to racial inequalities?

How does stratification economics explain the behavior of individuals voting against their own economic interests?

What are the potential benefits of a coalition among different racial groups in the labor movement?

How does the concept of economic rights relate to the discussion of stratification economics?