Quotation of the Day…

by Don Boudreaux on March 25, 2022

in Competition, Doux Commerce, Myths and Fallacies

… is from page 215 of the 2009 Revised Edition of Thomas Sowell’s Applied Economics: Thinking Beyond Stage One (original emphasis):

It is not only theoretically possible to have more discrimination where there is less bias or prejudice, and less discrimination where there is more bias and prejudice, this has in fact happened in more than one country. The degree to which subjective attitudes are translated into overt acts of discrimination depends on the costs of doing so. Where those costs are very high, even very prejudiced or biased people may in engage in little or no discrimination.

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