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Economic discrimination is discrimination based on economic factors. These factors can include job availability, wages, the prices and/or availability of goods and services, and the amount of capital investment funding available to minorities for business. This can include discrimination against workers, consumers, and minority-owned businesses.
Statistical discrimination is a theorized behavior in which group inequality arises when economic agents (consumers, workers, employers, etc.) have imperfect information about individuals they interact with. [1] According to this theory, inequality may exist and persist between demographic groups even when economic agents are rational.
The business owner or capitalist recognizes that racial discrimination is dysfunctional for the business enterprise and prefers not to discriminate. The objective of the capitalist is to get the best worker for the cheapest wage, and it is therefore in the capitalist's interest not to discriminate, because discrimination limits the pool of ...
In neoclassical economics theory, labor market discrimination is defined as the different treatment of two equally qualified individuals on account of their gender, race, disability, religion, etc. Discrimination is harmful since it affects the economic outcomes of equally productive workers directly and indirectly through feedback effects. [2]
Taste-based discrimination is an economic model of labor market discrimination which argues that employers' prejudice or dislikes in an organisational culture rooted in prohibited grounds can have negative results in hiring minority workers, meaning that they can be said to have a taste for discrimination. The model further posits that ...
For price discrimination to succeed, a seller must have market power, such as a dominant market share, product uniqueness, sole pricing power, etc. [9] Some prices under price discrimination may be lower than the price charged by a single-price monopolist. Price discrimination can be utilized by a monopolist to recapture some deadweight loss.
[2] Where a disparate impact is shown, the plaintiff can prevail without the necessity of showing intentional discrimination unless the defendant employer demonstrates that the practice or policy in question has a demonstrable relationship to the requirements of the job in question. [3] This is the "business necessity" defense. [1]
This moralized definition of discrimination is distinct from a non-moralized definition - in the former, discrimination is wrong by definition, whereas in the latter, this is not the case. [ 12 ] The United Nations stance on discrimination includes the statement: "Discriminatory behaviors take many forms, but they all involve some form of ...