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The famous sociologist was once a student of markets and wages. His later leftist radicalism was forged by institutional failure in the brutal Jim Crow South.

W.E.B. Du Bois was born in Great Barrington, Massachusetts (where AIER is now headquartered), in 1868. Today, this towering figure of the early civil rights movement is remembered as a groundbreaking sociologist, Pan-African socialist, and near-mythical hero to the intellectual left.

“He’s a reformist,” philosopher Cornel West told a classroom of Dartmouth students in a 2017 lecture on Du Bois’ long path to becoming a revolutionary. “But he’s a radical reformist, no doubt.”

But there was once a W.E.B. Du Bois who was radical mainly in the scientific sense. Before drifting into the study of history and sociology, he was an economics student at Harvard. The marginal revolution had just remade the dismal science into a more mathematical and literally “edgy” subject. And Du Bois made original contributions that leveraged insights from the free-market Austrian school and anticipated later developments in neoclassical economic thought, as Daniel Kuehn explains in a recent paper published in the Journal of Economic Perspectives.

Similarly, the young Du Bois’ recommendations for black racial uplift bore surprising similarities to the modern-day conservative economist Thomas Sowell. What caused his later radicalization? It was arguably a tragedy of racism.

...read more at thedailyeconomy.org

It’s amazing how often state failures lead people away from free markets.

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It becomes hard to believe in free markets when the market around you is not free.

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Du Bois didn’t abandon economics because he misunderstood markets, he radicalized after watching institutions fail under Jim Crow. Theory met reality, and reality won.

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The guy was treated like shit because he was black. Read his writings. It's pretty obvious his skin color treatment was a huge impact on him, especially during the Harlem Renaissance period.

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In the U.S., ‘free markets’ have always been conditional and built on law, power, and who gets full access to contract, property, and mobility.

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