“Bill Cosby may be right about African-Americans spending a lot on expensive sneakers–but he’s wrong about why.”
What’s troubling about the message of this study is that Cosby and others may not be battling against a black culture of consumption, but a more deeply seated human pursuit of status. In this sense, Cosby’s critics may be right–only when black incomes catch up to white incomes will the apparent black-white gap in spending on visible goods disappear.
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