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April 21, 2014

Andrew Silow-Carroll: Passoverkill? Suggestions to make next year's seders even more culturally sensitive

Sara Israelsen Hartley: Seeking the Divine: An ancient connection in a new context

Christine M. Flowers: Priest's execution in Syria should be call to action

Courtnie Erickson: How to help kids accept the poor decisions of others

Lizette Borreli: A Glass Of Milk A Day Keeps Knee Arthritis At Bay

Lizette Borreli: 5 Health Conditions Your Breath Knows Before You Do

The Kosher Gourmet by Betty Rosbottom Coconut Walnut Bars' golden brown morsels are a beautifully balanced delectable delight

April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review August 25, 2006 / 1 Elul, 5766

Race and economics

By Thomas Sowell


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http://www.JewishWorldReview.com | Andrew Young's statement that blacks have been "ripped off" by stores run by Jews, Koreans, and Arabs has been rightly criticized and he has apologized. But these irresponsible remarks have wider implications than Andrew Young and wider implications than their political repercussions.


For decades, one of the biggest blind spots of most civil rights "leaders" and "spokesmen" for the black community has been their utter lack of knowledge of economics.


As a purely factual matter, prices do tend to be higher — and the quality of service and products lower — in stores in low-income neighborhoods. But the knee-jerk assumption that this represents "exploitation" or "racism" ignores the economics of the situation.


Many of the ghetto stores charging high prices are struggling to survive, while supermarkets in other neighborhoods are very profitable charging lower prices. There are many reasons for this.


The reason least likely to be acknowledged by those who blame the store owners is that crime, shoplifting, vandalism, and riots have raised the costs, both directly and by causing insurance rates and the costs of security to be higher in ghetto neighborhoods.


The costs of delivering goods to small neighborhood stores are also higher than the costs of delivering goods to huge supermarkets. Delivering a hundred cartons of milk to a supermarket is cheaper than delivering ten cartons of milk to each of ten local stores scattered around town.


Selling a customer $50 worth of groceries in a supermarket takes less time than selling ten customers $5 worth of groceries in a little neighborhood store. Faster turnover is one of the keys to a supermarket's lower prices.


A supermarket can prosper with one cent of clear profit on each dollar of sales because that dollar comes back to be re-used again and again in the course of a year.


If the inventory of a supermarket sells out in two weeks, that one cent comes back 26 times in the course of a year. This means that a penny of profit on a dollar from each sale becomes more than a quarter on a dollar annually.


Few local stores can match that. Not only are the delivery and overhead costs of the local store likely to be higher, the slowness with which its inventory turns over means that even higher prices may not fully compensate for such differences.


The cumulative effect of such cost differences is that prices are often higher and at the same time profit rates lower in poor neighborhoods.


One of the factors limiting what a ghetto store can charge is that many ghetto residents already shop in other neighborhoods, when the price savings are enough to cover bus fare or taxi fare.


Every increase in prices risks losing still more customers.


Many of the same black "leaders" who accuse local store owners of making exorbitant profits also complain that supermarkets seldom locate in ghetto neighborhoods. Do they think supermarkets are against making money, if ghettos are so profitable?


The poor quality of many goods and of the service in ghetto stores is also a result of what has happened in these neighborhoods over the years.


My niece, living in the same Harlem neighborhood where I grew up in the 1940s, often complained of rude service and bad quality goods, as well as their high prices — complaints that were not at all what I experienced growing up in that same neighborhood.


There were far more stores back in the 1940s and it would have been financial suicide for any given store to treat its customers the way ghetto stores can get away with treating them today.


What happened in between? Ghetto riots happened, beginning in the 1960s. Many stores that were looted or burned out in those riots never re-opened. Nor were many other people ready to come in from outside to replace them. Nor were local residents.


People who have neither the efficiency nor the courtesy to compete with other stores in middle-class neighborhoods can survive running ghetto stores because of the lack of competition.


Many black "leaders" and "spokesmen" who romanticized ghetto riots as "uprisings" against oppression are now displaying their ignorance of both history and economics. Those ghetto residents who had nothing to do with those riots are still paying the price.

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