The Oracle Set Book Club Book Rack
1974 to 1975


‚ÄčThis book examines, within the prevailing economic and social structure of the American economy, the optimum economic relationship between the black ghetto economy and the general economy. The ghetto economy is viewed as predominantly labor intensive; the general economy is viewed as highly oligopolistic and capital intensive and as becoming increasingly more capital intensive through automation. The first part of the book analyzes the present state of affairs of the black community. It demonstrates that the conventional approach to the problem of black community development sheds no light on the problem of black community development but leads only to a point of supply and demand equilibrium in the black job market, short of full employment. It explains the aspirations and goals of the black community. It tests a new agenda of hypotheses on the utilization of black labor in terms of certain exogenous factors that restrict the economic development of the black ghetto economy. It analyzes the ghetto market system and economic structure empirically. Finally it analyzes the problem of ghetto development in terms of factors endogenous to the ghetto community as a subeconomy rather than as a residential area. In part II, the effects of present and proposed governmental policies upon ghetto development are considered. In Part III the economic implications of the hypotheses with respect to factors exogenous to the ghetto economy as well as endogenous factors, in terms of a solution to the problem of ghetto development, are shown. Some of the questions that are addressed in the latter half include: (1) What is the possibility of a more productive role for the black ghetto community as a whole in the economic system? (2) If there is a more productive role, what is it? and (3) How can the low rate of income class mobility among ghetto workers employed outside the ghetto be made to generate capital growth within the ghetto?