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Robert Merton Suggested That Some White Americans Who Praise Abraham

question 79

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Robert Merton suggested that some white Americans who praise Abraham Lincoln for being frugal and thrifty might describe an Asian American with the same qualities as being stingy and penny pinching.What explains this double standard?


Definitions:

Unrealized Gain

The increase in value of an asset or investment that has not been sold or exchanged, thus not yet generating cash.

Trading Investments

Assets that a company primarily buys and sells to generate profit from short-term fluctuations in price.

Cost Method

An accounting approach used to record investments where the investment is listed at its acquisition cost, without recognizing periodic changes in market value.

Equity Investment

An investment in stock or shares representing ownership interest in a company.

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