Download this Paper Open PDF in Browser

'Black People's Money': The Impact of Law, Economics, and Culture in the Context of Race on Damage Recoveries

48 Pages Posted: 28 Sep 2016  

Regina Austin

University of Pennsylvania Law School

Date Written: July 26, 2003

Abstract

“’Black People’s Money’: The Impact of Law, Economics, and Culture in the Context of Race on Damage Recoveries” is one of a series of articles by the author dealing with black economic marginalization; prior work considered such topics as shopping and selling as forms of deviance, street vending, restraints on leisure, and the importance of informality in loan transactions. This article deals with the linkage between the social significance of black people’s money and its material value. It analyzes the construction of “black money,” its association with cash, and the taboos and cultural practices that assure that black money will be worth less than white money. Concrete evidence of the devaluation of money in the hands of blacks is found in two tort cases involving black plaintiffs (a woman assumed to be on welfare and a prisoner) who were awarded inadequate damages because of the social meaning attributed to money in their hands.

Keywords: Law and economics, race, valuation, litigation, damages, social meaning, discrimination, jury verdicts, segregation

JEL Classification: E40, I31, K42, Z1

Suggested Citation

Austin, Regina, 'Black People's Money': The Impact of Law, Economics, and Culture in the Context of Race on Damage Recoveries (July 26, 2003). U of Penn, Inst for Law & Econ Research Paper No. 16-24. Available at SSRN: https://ssrn.com/abstract=2844848 or http://dx.doi.org/10.2139/ssrn.2844848

Regina Austin (Contact Author)

University of Pennsylvania Law School ( email )

3501 Sansom Street
Philadelphia, PA 19104
United States

Paper statistics

Downloads
33
Abstract Views
264