Publication Type: Conference Paper/Unpublished Manuscript Abstract: The paper addresses the roles of conquest and racism as principle explanations for long term inequality among ethnic/racial groups in the United States. It examines the fundamental consequences of nation-building in which Americans of European ancestry forcibly incorporated, subjugated, and expropriated the land and labor of certain peoples of color. It is about the maintenance of privileges won by conquest through the institutionalization of white power and prejudice, and the protracted subordination of native peoples of color, which has disadvantaged them relative both to European-Americans and more recent immigrants, including immigrants of color. The paper develops an incorporation theory of group inequality.