The Myth That Made Us: How False Beliefs about Racism and Meritocracy Broke Our Economy

Jeff Fuhrer

ISBN 10: 026255285X / ISBN 13: 9780262552851

Published by The MIT Press, 2025

About this Item

Leichte Rillen / Abschürfungen / Risse / Knicke; Farbtonänderung. This work reveals how false narratives of a post-racist society and meritocracy have been used to justify severe economic disparities in the U.S. It argues that systemic racism continues to create vastly unequal outcomes, while capitalism often prioritizes profit over equity. Jeff Fuhrer highlights that these narratives excuse the inequities embedded in the economic system and suggests that change is possible. He emphasizes that rather than blaming conservatives or liberals, we should focus on actionable solutions. Fuhrer combines data with community insights to propose a system that fosters equal opportunities for accumulating both human and financial capital. Key recommendations include universal access to high-quality early childhood education, enhancing the community college system for stable employment, restructuring low-wage workplaces, and ensuring affordable housing and transit options. He advocates for supporting people of color through mentorship and implementing initiatives like Baby Bonds and Reparations to address historical wealth loss among Black communities. Fuhrer calls for humility, research-driven strategies, and community engagement to enhance economic opportunities for all.

Seller Inventory # 18db980e-7bec-4e48-b3b2-3ca2058c0f7d

Bibliographic Details

• Title: The Myth That Made Us: How False Beliefs about Racism and Meritocracy Broke Our Economy
• Publisher: The MIT Press
• Publication Date: 2025
• Language: English
• ISBN 10: 026255285X
• ISBN 13: 9780262552851
• Binding: Softcover
• Condition: Fine
• Seller catalogs:
  • Economics

About this title

Synopsis

How our false narratives about post-racism and meritocracy have been used to condone egregious economic outcomes—and what we can do to fix the system.


The Myth That Made Us exposes how false narratives—of a supposedly post-racist nation, of the self-made man, of the primacy of profit- and shareholder value-maximizing for businesses, and of minimal government interference—have been used to excuse gross inequities and to shape and sustain the US economic system that delivers them. Jeff Fuhrer argues that systemic racism continues to produce vastly disparate outcomes and that our brand of capitalism favors doing little to reduce disparities. Evidence from other developed capitalist economies shows it doesn’t have to be that way. We broke this (mean-spirited) economy. We can fix it.

Rather than merely laying blame at the feet of both conservatives and liberals for aiding and abetting an unjust system, Fuhrer charts a way forward. He supplements evidence from data with insights from community voices and outlines a system that provides more equal opportunity to accumulate both human and financial capital. His key areas of focus include universal access to high-quality early childhood education; more effective use of our community college system as a pathway to stable employment; restructuring key aspects of the low-wage workplace; providing affordable housing and transit links; supporting people of color by serving as mentors, coaches, and allies; and implementing Baby Bonds and Reparations programs to address the accumulated loss of wealth among Black people due to the legacy of enslavement and institutional discrimination. Fuhrer emphasizes embracing humility, research-based approaches, and community involvement as ways to improve economic opportunity.

About the Author

Jeff Fuhrer is a Non-Resident Fellow at the Brookings Institution and a Foundation Fellow at the Eastern Bank Foundation. He was previously Executive Vice President and Director of Research at the Federal Reserve Bank of Boston, where he was also responsible for the bank’s diversity and inclusion functions.