The Consequences of the 1960's Race Riots Come into View -- Sort of Looks Like Buffalo
full text - archived here at Fix Buffalo Archive
Full story by Virgina Postrel December 30, 2004 NewYorkTimes
Nostalgic pop culture recalls 1967 only as the Summer of Love, but it was also summer race riots burned through
Virginia Postrel writes the "Economic Scene" for the New York Times. Some of her recent work is archived on her blog. The full text of Virginia Postrel's article in the New York Times is available here.
The National Bureau of Economic Research picks up this thread and arrives at these conclusions.
- The riots had economically significant negative effects on blacks' income and employment. Further, those effects may have been larger in the long run - from 1960 to 1980 - than in the short run - from 1960 to 1970.
- The riots significantly depressed the median value of black-owned property between 1960 and 1970, with little or no rebound in the 1970s.
Finally, it looks like the Houston Chronicle has just picked up Virginia Postrel's article in yesterday's paper. Check it out, "Riot's of the 60's Still Impair Home Values".