Neoclassical economics framed racial inequality as three forms of market disequilibrium.

Evidence

Three sources of market disequilibrium, potentially capable of generating racial inequality, were proposed: an irrational prejudice or “taste for discrimination”; monopolistic practices, which grant “privileges” or “special benefits” to strategically placed groups, and hence create various interests and incentives for maintaining (or transforming) racial inequality; and disruptive state practices which interfere with the supposed equilibrating tendencies of the market (Becker 1971 ; Williams 1982). — Michael Omi, Howard Winant, Racial Formation in the United States, 67

Categorization

• XREF: connects to: Economic liberalism’s founder fused race hierarchies into market theory. — Jessica Whyte, The Morals of the Market: Human Rights…, 112