Differences in wealth, education, and history
Abstract. An understanding of the freedoms (or the lack of freedoms) and their economic consequences on early black Americans provides an informative understanding to the freedoms (or the lack of freedoms), and their economic consequences on other, modern ethnic groups. Curtis (2017) investigates the link between the social asymmetry and economic asymmetry among early blacks and whites in the United States of America. For the empirical study, Curtis (2017) uses cross-sectional variables from the Integrated Public Use Microdata Sample (IPUMS), developed informative conditional ratios, and employed least squares statistical analyses. This study finds that economic differences among ethnic groups, as measured by differences between early blacks and whites, are intertwined with asymmetrical freedoms, leading to statistically insignificant returns to education, as measured by literacy. One might conclude that the individual’s basic protection of life, liberty, and the pursuit of happiness must proceed any expectations of measured returns to schooling, particularly among individuals in disenfranchised groups. Furthermore, one might propose education policy such that modern higher education investment programs prioritize education entrepreneurs and/or state/social planners with academic research familiarity of differences in wealth.
Keywords. Wealth, education.JEL. D31, E21, N30.
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