This is part 2 of a three-part series on the Economics of Discrimination. See this playlist for the complete series: https://www.youtube.com/playlist?list=PL7s6piXiFK-T2Qy9bVRPPdo5LWL0itnX9

Dr Sowell is frighteningly rational. How does he manage to maintain his calm, cool and collected persona when confronted by an irrational humanity.

Thank You Thomas Sowell. You are one of America's great Treasures. Thank You for your Knowledge and Wisdom.

This explains so well how dogma and ideologies can crumble in the face of reality. However much and for whatever reason you may have to think or feel a certain way about another person or people, you cannot reconcile maintaining that prejudice in the face of facts without Herculean efforts to rationalize it.

Judge people by what they as individuals have done, not simply because they happen to be identifiable in some manner as a member of a group of people.

It is a crime every black child doesn't know Thomas. Sowell and many don't know Ben Carson, MD. These are true role models and sometimes I believe these two geniuses are intentionally ignored and ignored by the party of "equality" and care for underprivileged.

This is like Jordan Peterson always explains that there's a business and economic incentive to equality of opportunity to achieve the highest rate of quality and production, because the most qualified people may be rejected, if a business adopts stupid policies for rejecting an applicant. Likewise, there are woke companies that will hire more people from certain groups regardless of qualifications, which is equally fiscally irresponsible, because it means the employer may choose to hire a less qualified employee over a more qualified one.

This discussion of incentives and costs of discrimination seems to coincide with something I have heard described as the "moral cowardice" of the average person. Inspired by surveys of the population of Nazi Germany after WW2, and confirmed to be statistically true in most societies around the world today, around 75% of any given population will ignore their most sincerely held moral, religious, or other most important beliefs if they or their family's well-being or safety are threatened. 75% of of the population of 1940s Germany knew that the government was engaged in behavior they found morally abhorrent, but weren't willing to speak up or act for fear of the consequences to themselves and their families. Studies since then have confirmed that there is a 75% chance that any given person reading this will knowingly do the thing they find most morally objectionable in the world in order to keep their job or keep themselves or their family out of jail. If applied to the southern business owners, polish hiring professionals, or baseball team managers discussed here it appears that even the most die hard racists will (around 75% of the time) give up their racism in order to be competitive enough to keep their jobs.

very interesting video and well-researched. i had always wondered why it took till after WWII for so many blacks to leave the south in the numbers they did and move to the industrial north... this is another of T sowell's videos that needs to be viewed several times to get it all - as usual much food for thought.

weird question: the piano at the closing - what is its name?

I would love if the US had an actual free market. Our government is so oppressive.

Nice vid as always Mr Sowell

The problem is that our markets ARE as "free" as our elections are "fair/legal" as our politicians are "honest" as our preachers are "moral" as our science is being "followed" as our media is "uncensored" as our president is "obeying the laws of our country." Stuff was needing improvement before woke/trans; nothing grows in a vacuum. "Labor pool, surplus labor, etc." equals a man-made bubble of unemployed individuals; micro-economics, so modify capitalism in a healthy way. Mars is nonsense; rich folks are looking for another place to run to when they've trashed this planet, like they did California, old mills, old plants across USA, etc. Context is for kings.

Deep down l feel that in private practice you want the best you can affird... the government wants the price point... having been in the Marine Corp... every single thing we ate, drank ,wore or fired was made by the lowest bidder.

This guy needs a bigger stage. One where everyone hears him.

Thank you Dr. Thomas Sowell for my Daly dose of Sowell. Glad to see and hear 👂 you in New Year. God Bless you and Family Mr. Sowell. All day long Yahoo 😅

This is brilliant.

This actually describing "the invisible hand" posit by Adam Smith. In a competitive market you cannot allow a competitor to have a defining edge over you unless you have an equal and opposite edge of your own.

money is neither black nor white. Money is green

Quite accurate.