Final answer:
Racist beliefs can influence economic life, allowing some oppressed groups to find freedom through economic activities in the face of discrimination, yet market forces alone are insufficient to eradicate racism's impact on economic inequality.
Step-by-step explanation:
Racist beliefs can indeed be a part of economic life. History has shown that markets can offer some freedom to oppressed groups, allowing them to establish economic spaces despite facing discrimination. For example, Jewish people and emigrant Chinese people have thrived in various countries through commerce and entrepreneurship. However, we are also reminded that market forces alone do not eliminate discrimination, as evidenced by the persistent discrimination against African Americans in the U.S. even after significant legislative changes such as the Civil Rights Act of 1964. Situations like apartheid in South Africa further highlight how racism, tied to power, can create economic inequalities. Thus, while economic avenues exist for minority groups to alleviate some of the consequences of racism, the interplay between racism and economic life continues to be complex and significant.