It’s all the factors that keep less efficient businesses going even when faced with more efficient competition: monopolies, irrational customers, exclusive owne

It’s all the factors that keep less efficient businesses going even when faced with more efficient competition: monopolies, irrational customers, exclusive ownership of important resources, capital, or IP, regulatory capture, etc. Maybe racial discrimination is not a viable explanation for the current wage market, but that’s pretty far from the claim that we don’t need to care about racism in business because racist businesses are bound to fail. There are too many examples where that just didn’t happen.