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The mind of Walter Micheals: We discuss the importantnce of addressing inequity and not just race. His assertion is is that Social justice is market driven. What do youy think? "Most free market economists probably think that discrimination is ethically wrong but ever since Friedman’s colleague, Gary Becker, wrote The Economics of Discrimination, they know it’s bad for profits. Employers who won’t hire black workers are just strengthening the bargaining power of white workers; they’re throwing away their relative surplus population card. Unlike racism, however, the right amount of unemployment is good for profits. Indeed, it’s good for capitalism itself. Thus the inequality enabled by unemployment is, in a capitalist economy, a useful inequality, and the question of our attitude toward the unemployed (unlike the question of our attitude toward the victims of racism or sexism or any kind of discrimination) is both complicated and beside the point." Walter Michaels
The mind of Walter Micheals: We discuss the importantnce of addressing inequity and not just race. His assertion is is that Social justice is market driven. What do youy think? "Most free market economists probably think that discrimination is ethically wrong but ever since Friedman’s colleague, Gary Becker, wrote The Economics of Discrimination, they know it’s bad for profits. Employers who won’t hire black workers are just strengthening the bargaining power of white workers; they’re throwing away their relative surplus population card. Unlike racism, however, the right amount of unemployment is good for profits. Indeed, it’s good for capitalism itself. Thus the inequality enabled by unemployment is, in a capitalist economy, a useful inequality, and the question of our attitude toward the unemployed (unlike the question of our attitude toward the victims of racism or sexism or any kind of discrimination) is both complicated and beside the point." Walter Michaels read more read less

5 years ago #action, #affirmative, #inequality, #race