Race:
people defined as group based on inherited capacities or moral, intellectual, etc. characteristics unique to that group. (biology)

Ethnicity:

identity of some as "a people" designated in terms of cultural boundary, contrasted with some group of "Others".

(many social scientists who are convinced that race is not a valid biological concept will point to "ethnicity" as a better term for group differences of a cultural nature.)

Racialism:
belief system that observes "inherent differences" of groups with no particular value judgements about those differences.

Racism:

belief system emphasizing inherent differences, and places them in a hierarchical relationship; claims special privileges for one race and disparaging another.





More From Werner Sollers

Daniel Hindes An interesting blog post discussing these terms with a moral argument as to why it is important to distinguish racism from racialism

Winant, Howard. Racism Today: Continuity and Change in the Post-Civil Rights Era. Ethnic and Racial Studies Vol. 21, no. 4 (1998). http://www.soc.ucsb.edu/faculty/winant/what_is_racism.html