In his captivating memoir Late Admissions: Confessions of a Black Conservative, Glenn Loury details the ingredients needed to make crack cocaine, including a lighter, water, baking soda, Q-Tips, high-proof alcohol, a ceramic mug, and a piece of cheesecloth or an old T-shirt. This unique book combines technical discussions of economic theories with personal stories of self-invention, ambition, addiction, and redemption.
Having faced struggles and setbacks in his life, Loury’s journey from a working-class upbringing on Chicago’s South Side to becoming a chaired professor at Brown University is filled with challenges and triumphs. Through his experiences with addiction, redemption, and rebuilding his life, Loury offers a unique perspective on economics, individualism, and community.
In a conversation about his identity as a black conservative, Loury discusses his beliefs in free markets, individual responsibility, and respect for tradition. He emphasizes the importance of personal responsibility and self-reliance in overcoming challenges faced by African Americans.
Reflecting on his struggles with addiction, Loury credits Alcoholics Anonymous and his faith for helping him overcome self-destructive behaviors. He acknowledges the role of community support and personal growth in his journey towards recovery and self-discovery.
Loury’s story serves as a testament to the power of resilience, self-reflection, and personal growth in overcoming adversity and rebuilding one’s life.
Surrender and trust in God.
What accomplishment are you most proud of as an economist?
I believe my most significant technical work was published in Econometrica in 1981. Titled “Intergenerational Transfers and the Distribution of Earnings,” this paper utilized cutting-edge technical methods to address the issue of inequality. It highlighted the importance of parental investments in children, showing that these investments impact the productivity of individuals later in life. Inequality in resources leads to inequality in opportunities, affecting the overall distribution of earnings. This research underscores the need to address resource disparities to create a more equitable society.
Is this a response to the notion of self-reliance? Your work suggests that assisting children from disadvantaged backgrounds is crucial for achieving a fairer society.
These are two separate discussions on human experiences. On one hand, I explore market failures and the role of government intervention in addressing societal issues. On the other hand, I delve into personal responsibility and the existential aspect of living. While government intervention may be necessary to address systemic problems, individuals must also take ownership of their actions and decisions.
You are currently active on college campuses, which are experiencing heightened tensions. Do you feel that the message of personal responsibility has been lost?
I believe so, especially amidst the current debates on various social issues. The focus on identity politics and a narrow view of inclusivity in academia can stifle intellectual growth. Instead of placating students, we should challenge them with diverse perspectives and uncomfortable ideas to foster critical thinking and personal growth. Embracing individual responsibility is crucial in education and beyond.
What are your thoughts on affirmative action?
Affirmative action can be seen as unfair to individuals who do not benefit from such policies. It creates differing standards based on race or ethnicity, which can perpetuate stereotypes and stigmatize certain groups. Affirmative action may provide temporary relief but does not address the underlying issues of productivity disparities. True equality requires a level playing field where individuals are judged based on merit, not on special considerations. The African American population is producing fewer individuals with the skills needed for assessment, hindering progress towards equality. The reasons for these disparities may include cultural changes, economic differences, and educational inequities. While genetics may play a role, the impact of culture on life experiences cannot be ignored.
Cultural influences, such as the Asian American emphasis on education, can shape outcomes. It is essential to acknowledge and respect individual cultural backgrounds without dividing or categorizing people. We all have unique stories and heritages, but ultimately share common struggles and triumphs as human beings.
While race is a significant aspect of identity, it should not limit one’s engagement with diverse cultural heritages. It is important to embrace various cultural influences, including those from European civilization, to enrich one’s understanding of the world. Embracing diversity while appreciating individual cultural backgrounds is crucial for personal growth and societal progress. Can you rewrite this sentence for me, please?
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