Abstract
The ascendency of capitalism and the market mechanism have elevated the individual and the assumption of individual responsibility to paramount consideration in policy discussions. Our view of racial disparities has moved more toward a philosophy of individual culpability and away from a social responsibility, at least in part, because of the dominance of neoclassical economics and its adherence to assumptions of individual choice and rationality. This article explored the explanatory power of neoclassical economics, in particular the human capital model.
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