Planet Money: A Race Reckoning in Economics

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American Economic Association (AEA)

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A nonprofit organization founded in 1885 to promote the field of economic study through scholarly research and discussion. Its members include academics like graduate students and professors, as well as professionals from organizations across private industry and government. One important emphasis of the AEA's mission is nonpartisanship; it seeks to stimulate economics discussion free from political influence. In 2018, the organization adopted a code of professional conduct emphasizing personal and professional integrity, nondiscrimination, and the importance of "supporting participation and advancement in the economics profession by individuals from all backgrounds, including particularly those that have been historically underrepresented."

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Terms in this set (27)

American Economic Association (AEA)

Economist

A person who studies how wealth is produced, consumed, or transferred. They frequently analyze historical data to formulate theories about how and why economies change. Within the context of the podcast, these people provide guidance on the methods that would best help to improve the financial well-being of a nation.

Racism

A belief that certain groups should not be allowed to participate in the process of governance, pursue economic opportunity, or be active in public life. This may be based on the belief that a group is inferior based on their physical appearance or other group-based characteristics. There is no scientific basis for grouping people in this manner.

Underrepresented

This refers to the difference between the percentage of people of a particular group (race, gender, or other characteristic) working in a certain field and the percentage of people of that group within the overall population of a country. Podcast host Stacey Vanek Smith explains that Black people are considered to be underrepresented in economics because only 3% of all economists are Black, whereas Black people represent approximately 13% of the United States population. In a survey, only 17% of Black economists said they feel Black people are respected in their field.

Race

A social construct that groups people based on physical characteristics, often based on skin color. There is no scientific basis for grouping people in this manner.