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Does a rising tide lift all boats?

Summary:
Not according to the economists advising Democrats.  Despite overwhelming evidence that growth helps poor people, ...The unemployment rate for black workers in June was 6.0%, a tick above the lowest level recorded since the government started collecting such data in 1972. The black labor-force participation rate has risen in recent years, meaning a greater portion of working-age African-Americans are looking for work. The Democratic consultants (experts in "stratification economics") seem to be eschewing growth in favor of policies to reduce racial disparities: The white unemployment rate in June was 3.3%. Gaps persist in income, poverty and home-ownership rates. The main argument of Messrs. Darity and Hamilton’s work is that those differences are so entrenched they outlast economic

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[email protected] (Luke Froeb) considers the following as important:

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Not according to the economists advising Democrats.  Despite overwhelming evidence that growth helps poor people,
...The unemployment rate for black workers in June was 6.0%, a tick above the lowest level recorded since the government started collecting such data in 1972. The black labor-force participation rate has risen in recent years, meaning a greater portion of working-age African-Americans are looking for work.

The Democratic consultants (experts in "stratification economics") seem to be eschewing growth in favor of policies to reduce racial disparities:

The white unemployment rate in June was 3.3%. Gaps persist in income, poverty and home-ownership rates. The main argument of Messrs. Darity and Hamilton’s work is that those differences are so entrenched they outlast economic cycles.

And they didn't think much of President Obama's administration:

They viewed the Obama presidency a missed opportunity. They bristled at Mr. Obama’s suggestions that a black culture disparaging academic achievement as a form of “acting white” played a role in African-American struggles. During the 2012 campaign, Mr. Darity told PBS that he wouldn’t vote for Mr. Obama’s re-election. 
Messrs. Darity and Hamilton were early advocates of reparations for descendants of slaves, which they saw as the most direct and comprehensive way to address wealth disparities.

For Democrats looking for an alternative to identity politics economics see the discussion below on expanding the Earned Income Tax Credit.

HT:  Marginal Revolution



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