Summary of Race in Economics

Looking for the article?
We have the summary! Get the key insights in just 5 minutes.

Race in Economics summary
Start getting smarter:
or see our plans




  • Eye Opening
  • Overview


Economists examine the sources of social phenomena such as well-being, wealth creation and poverty. But they have paid little attention to the role that individual and institutional racism plays in the field of economics itself, according to this thought-provoking article by IMF executives Martin Čihák, Montfort Mlachila and Ratna Sahay. In noting the profession’s discriminatory practices, the authors persuasively argue that understanding the origins of prejudice is essential to eliminating it.

About the Authors

Martin Čihák runs the macrofinancial unit in the IMF’s Strategy, Policy and Review Department. Montfort Mlachila is the IMF’s senior resident representative in South Africa. Ratna Sahay is a deputy director of the IMF’s Monetary and Capital Markets Department. 



Racial bias has long permeated economic thinking.

The field of economics studies factors affecting the financial well-being of individuals and nations. Yet the profession has not adequately analyzed the effects of racism on economies or societies. In fact, racism inflicts economic damage on everyone. 

Racial bias has long permeated economic thinking and its institutional practices; a 1965 article by a noted economist termed Black people “inferior” and in need of encouragement to work. Academic journals have barely addressed...

More on this topic

Customers who read this summary also read

Investing to Advance Racial Equity
Financial Institutions Can Help Break the Cycle of Racial Inequality
Examining the Black-White Wealth Gap
Recent Trends in Wealth-Holding by Race and Ethnicity
A Capital Market Union for Europe
Behavioral Development Economics

Related Channels

Comment on this summary