The Erasure of Race in Economic Theory

In this episode, we dive into a topic that is ignored by many economists: the role of race and group identity in economics. We have an obligation to acknowledge how, by externalizing race, economic theory upholds racist systems and perpetuates socially unequal outcomes. Our economic status quo fails to support black lives, especially amidst economic shocks such as the COVID-19 pandemic. We speak with Joelle Gamble, principal of the reimagining capitalism team at Omidyar Network, to better understand how racial bias is deeply rooted in economics— in our conception of the “economy”, its focus on objective outcomes, and in the assumptions embedded in economic theory. Part 2 of our 2 part series examining the role of the economy in serving public interest