Research On Blacks Spending Habits On Expensive Goods
Why would otherwise-similar black and white households have different incentives to signal their wealth? Charles, Hurst, and Roussanov argue that it’s because blacks and whites are seeking status in different communities. In the racially divided society we live in, whites are trying to impress other whites, and blacks are trying to impress other blacks. But because poor blacks are more likely to live among other poor blacks than poor whites are to live among other poor whites, poor black families are more susceptible to being pulled into a signaling game with their neighbors.
Once these effects are accounted for, racial disparities in visible consumption disappear. It’s not that black Americans are more inclined to signal wealth; rather, poor blacks are more likely than poor whites to be a part of communities where they are relatively rich enough to participate in the signaling game.
Well expensive sneakers, clothes and jewelry are used to stand out from everyone else. No one wants to be normal and just average, so these objects of desire are used to boost your confidence and status. You will see these the most in poor neighborhoods because people feel a stronger need to show they have money, even if they really don’t.
January 11th, 2008 at 3:39 pm
UNO!!!!!
January 11th, 2008 at 3:42 pm
i think We’re missing the point of what Bill Cosby is trying to say. Rather not even Bill Cosby, you ask any person who grew up in the 50’s and the 60’s their answer about buying expensive things would be the same.
Even myself, which i work for a CEO in who used to own a 100 Million company and he’s told me from time to time, like ” wow, man you spend allot on clothes.”
We as black people are fixated on this stuff because we are brought up that way and we do need to change.
January 11th, 2008 at 4:00 pm
it is the truth. if you think about it also if you lived in the hood you want to get out and live a nice life in a good neighborhood and drive the fancy car. everything is a desire to impress other people we dont know. think about it guys get the pradas and bapes to impress the women, the women do the same and get there hair and nails done to impress the guy. thats just how it is unless you a hillbille. shit im like that but i know what to do and have a certain limit and i wont buy nothing on credit i rather have some cash in my pocket after i buy than be a broke nigga wit 300 sweaters
January 11th, 2008 at 4:07 pm
realtalk i need u to watch this documentary and feature it , towards the end it takes u into the future plans of america for the people, america is on some other shit
http://zeitgeistmovie.com/
January 11th, 2008 at 4:08 pm
Interesting article. Get ready for a host of uneducated responses
January 11th, 2008 at 4:39 pm
thats kinda true. ppl in the hood be buyin $150 jordans and shit when they can use that money on something more relevant. but i dont blame them.
but damn, livin in america, a land of very materialistic things. its hard to not desire the hot shit out and tryna emulate the ‘good life’.
January 11th, 2008 at 4:41 pm
I think this article does have merit. I like to consider myself the exception to the rule. Back in high school and still now as I’m about to graduate from college..I never had a desire to wear the $120 sneakers or rock the latest. People used to tell me they thought I was poor or at least not as well off when they come to my house and realize I live in an upscale neighborhood. People have to realize yes it does have to do with where you grow up but I think the most important factor is HOW you grow up. If you are taught that “the clothes make the man, instead of the man making the clothes” then of course you will be fixated on material accumulation.
January 11th, 2008 at 5:40 pm
something should be said for young people (not just black) being targets for corporations as well. if you look at some of the clothing and electronics geared towards teens, the prices are out of line with what the average person that age can afford. it starts early and it’s not just aimed at blacks but we are easy lambs to the slaughter so to speak.
January 11th, 2008 at 6:00 pm
lovin the new layout
lol