ECONOMIC HISTORY: The author of the article, Peter S. Li, is a sociologist, not an economist, and uses the phrase ‘economic cost’ differently than an economist would. Use your economic training and what you have learned in the article to briefly describe what the economic cost of racism is to Chinese-Canadians.

1. [Reading] Read the following paper:
Li, P. S. (1987). The Economic Cost of Racism to Chinese-Canadians. Canadian Ethnic Studies, 19(3), 102 – 113. Retrieved from http://search.proquest.com/docview/1293156009
a. Write a 3-2-1 report on the paper above. Remember that you CAN’T just copy-and-paste text from the paper.  You need to either cite quotes properly, andexplain why you chose them, or use your own words. (12 marks)
b. The author of the article, Peter S. Li, is a sociologist, not an economist, and uses the phrase ‘economic cost’ differently than an economist would.  Use your economic training and what you have learned in the article to briefly describe what the economic cost of racism is to Chinese-Canadians. You mustrefer to evidence in the article in order to receive fullmarks.(3 marks)
Hint: Remember that economics studies the allocation of limited resources among unlimited needs and wants.  How does racism influence the allocation of resources by Chinese-Canadians? What cost does this changed allocation imposed, compared to a world with no racism?