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Lets assume that in a particular society one group of people is discriminated. As many firms avoid hiring members of this group, they receive on
Lets assume that in a particular society one group of people is discriminated. As many firms avoid hiring members of this group, they receive on average 80% of what others are paid for the same work (the same quality and quantitythat is very hard to measure but assume that this is the case). Financial markets are free. Firms can hire whomever they want, and government interferes only when enforcing contracts that both parties have voluntarily signed. Which firms in this society will find it easier to compete and survive: the ones that discriminate and do not hire the discriminated group members or the ones that simply try to hire the best at the lowest cost? Why
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