Berkeley Talks

Why racial equity belongs in the study of economics

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"Economists begin with this notion of the free market invisible hand, and we need to be clear that the hand has a color — it's a white hand, let me say, a white male hand," said Eduardo Bonilla-Silva, a professor of sociology at Duke University. ... I was a major in sociology and economics... I ended up choosing sociology, in part because of the foundation of economics is assumptions about the rational actor making decisions on a cost-benefit basis in something called efficient market. And we all know that the Homo sapiens — they're a complex animal shaped by multiple social forces and group divisions."Bonilla-Silva joined a panel of scholars — Daina Ramey Berry, a history professor at the University of Texas at Austin; Arjumand Siddiqi, a professor in the Department of Public Health at the University of Toronto; and Mario Small, a sociology professor at Harvard University — for a discussion on July 13, 2020, about how the conceptual approaches of economics discount Black and Latinx perspectives, and what the