(Replying to PARENT post)
>He then shows data that the anti discrimination legislation increased black default rates and questions whether you encouraging minorities to declare bankruptcy and enter financial ruin is really something to be desired.
Sowell talked about the CRA and was proven wrong by multiple studies, like this one, which has a section dedicated to how the CRA wasn't a problem: https://www.responsiblelending.org/mortgage-lending/research...
Stop the Sowell worship. Please, internet, for the love of god. He will always talk about how everything that democrats do is bad and everything conservatives do is good. He isn't right on everything all the time.
👤deiznof🕑5y🔼0🗨️0
(Replying to PARENT post)
I'm not debating Sowell—I don't have the background to dispute his claims, I'm arguing against the notion that systemic racism is "immeasurable, undefinable, unchangeable" and is thus propaganda. Researchers might be wrong about their findings, like in any field, but you can't just handwave the research as dogma.
If Sowell is responding to specific claims made by researchers of systemic racism, then it can't possibly be merely empty rhetoric, it's a subject of active academic inquiry.
👤RoboticWater🕑5y🔼0🗨️0
(Replying to PARENT post)
For example blacks are much more likely to want to buy multi family homes. The income and other requirements for these are much stricter which is why they are denied loans more often.
Moreover, he points out that if blacks were being subject to stricter requirements then one would expect that they were less likely to default since the requirements are notionally to calculate default risk.
He points out that before the redlining legislation black and white default rates were broadly the same indicating that whatever criteria the banks used it fulfilled its main purpose of estimating default likelihood.
He then shows data that the anti discrimination legislation increased black default rates and questions whether you encouraging minorities to declare bankruptcy and enter financial ruin is really something to be desired.
Before you make blanket statements on the man you should be familiar with his stance on things. Your comment lacks the nuance that one is apt to find in any sowell book.