The economic exploitation of resources which have been created by citizens who are desinated as a subclass in a society. This economic exploitation is fostered by distortion of history,which allows the priveleged few to dominate the subjected many. This is practice which has been employed in Western Civilation to maintain a class society.
"The Religion of Racism in Third World Politics is the beginning and end of Ghettonomics" See Ghettonomics Man & Myth The Religion of Racism By: Morris J. Peavey, Jr. Published by 1stBooks.Com
by Morris J. Peavey, Jr. November 30, 2003
The doctrine of questionable practices such as income tax & welfare fraud, cable television theft, offspring identity theft, narcotics and weapon trafficking, and the display of counterfeit mecrchandise apprarel and accessories, to name some examples.
'Shequa is a victim of ghettonomics, in which she's forced to use her 3 year old daughter's social security number to get utlities, claim additional kids to increase her state benefits, in order to sell the food benefits for .50 on the dollar for cash to cop a elbow of chronic to sell, since she's got piyli and can't get a regular job. Chances are, she'll end up at the swap meet trying to buy a knock off Doonie & Burke or Coach purse.
by Smoovy Loc March 03, 2008
The science and study of production, distribution, and consumption of life in the ghetto. Ghettonomics is characterized by low savings rates, high aggregate demand for marginal goods, and high leverage ratios. Since many goods consumed are marginal luxury items, the price elasticity of demand is described as approx. -2^x as it is near constant until reach a tipping point.
I use ghettonomics to further my understand of da hood, yo!
by Skinny J Keynes July 10, 2009