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Glenn C. Loury is the Merton P. Stoltz Professor of the Social Sciences and Professor of Economics at Brown University. He has taught previously at Boston, Harvard and Northwestern Universities, and the University of Michigan. He holds a B.A. in Mathematics (Northwestern University, 1972) and a Ph.D. in Economics (MIT, 1976). Professor Loury has published mainly in the areas of applied microeconomic theory, game theory, industrial organization, natural resource economics, and the economics of race and inequality. He has been elected Fellow of the American Academy of Arts and Sciences and of the Econometric Society, Member of the American Philosophical Society, Vice President of the American Economics Association, and President of the Eastern Economics Association. He is the recipient of a Guggenheim Fellowship and a Carnegie Scholarship to support his work. As a prominent social critic and public intellectual, writing mainly on the themes of racial inequality and social policy, Professor Loury has published