This report presents the findings on the long-term economic progress of American blacks. The report consists of seven sections. The first is a general introduction. Section 2 describes major changes in the racial wage gap for males from 1940 to 1980 and identifies the distribution of wage gains among important subgroups in the black population. Section 3 describes differential racial trends in schooling and the income benefits associated with education. Section 4 deals with the influence of two dimensions of geographic location: black migration to the North and the increasing urbanization of the black population. The extent to which education and place of residence "explain" trends in black-white wage ratios are summarized in Section 5. Section 6 discusses the implications of three historical developments in recent black economic history: the invention of the mechanical cotton picker, the declining workforce participation rates of low-income blacks during the 1970s, and affirmative action. The final section speculates about likely future trends in the racial wage gap. The 40-year record clearly points to a large improvement in the relative economic status of black men. Although black poverty persists, a large black middle class has emerged. The largest wage improvements were found among younger blacks and college-educated blacks. Education has helped significantly to close the income gap, particularly through the narrowing of education disparities between the races and the improved economic return to black schooling. (KH)