THE JANUS-FACE OF RACE: REFLEC- TIONS ON ECONOMIC THEORY Patrick L. Mason and Rhonda Williams Many economists are willing to accept that race is a significant factor in US eco- nomic and social affairs. Yet the professional literature displays a peculiar schizo- phrenia when faced with the task of actually formulating what race means and how race works in our political economy. On the one hand, race matters when the dis- cussion is focused on anti-social behavior, social choices, and undesired market outcomes. Inexplicably, African Americans are more likely to prefer welfare, lower labor...