4 ms·

I've always been confused about how ageism, racism, sexism etc. are even compatible with capitalism. If there's a vast under-employed pool of people of the "wr

by csense 3y ago

I've always been confused about how ageism, racism, sexism etc. are even compatible with capitalism. If there's a vast under-employed pool of people of the "wrong" age, race, sex, etc. because "bad" companies refuse to employ them, why don't their "good" competitors seize the opportunity and hire all that untapped talent being left on the table?

ChainOfFools 3y ago
you could also ask why were pro sports all white for decades before they began to look for talent outside that pool? didn't team owners (and local fans) want to win games above all else? eventually, yes, winning is what ultimately mattered most - but it took half a century for that priority to be fully recognized as the one that outranked all the others, including racial bias.
raisedbyninjas 3y ago
I think there are a few factors why both under-employed groups exist and we don't see the invisible hand creating upstarts consisting of old black women dominating their industry. Many people, even those making hiring decisions, aren't in the entreprenuerial min/max hustle culture. Those employers will consider factors other than skills and the lowest agreeable wage. People tend to like other people similar to themselves so that leaves various undesirables unemployed longer. The set of potential employers is sometimes limited, especially in the before times when people would only look for work for up to about an hour commute from where they live. Also filter employers down to an industry/skillset. Then filter by employers with openings that coincide when an applicant is looking for a job. Consider two dental technicians in a rural area that start looking for a job on the same day. If one of the three dentists in the region has a preference for some protected class, then the "wrong" applicant may be job hunting for a while longer. There are also some jobs with tangible incentives for discrimination. Any role that benefits from sex appeal can favor young, attractive females. Jobs that are physically demanding can favor young and fit men.
Gigachad 3y ago
To some degree it’s the fact that markets aren’t perfectly efficient and companies aren’t perfectly rational. Another component is that biases and stereotypes are often somewhat accurate, more so than random luck.
JohnFen 3y ago
Capitalism doesn't run on rationality.
yummypaint 3y ago
Companies don't want to employ people, they want to make money. Read about the antebellum american south and you will find answers to the questions you have posed. Race was invented for the purpose of companies obtaining free labor, and is a true capitalist "innovation". Modern naratives about for profit organizations are far too charitable. If companies were human they would all be psychopaths.
burnished 3y ago
Because the efficient market hypothesis really only makes sense under a bunch of other assumptions; rational actors, perfect information, and parity between buyers and sellers. Most markets that are important to you do not adhere to these constraints.

by csense 3y ago

ChainOfFools 3y ago

you could also ask why were pro sports all white for decades before they began to look for talent outside that pool? didn't team owners (and local fans) want to win games above all else? eventually, yes, winning is what ultimately mattered most - but it took half a century for that priority to be fully recognized as the one that outranked all the others, including racial bias.

raisedbyninjas 3y ago

I think there are a few factors why both under-employed groups exist and we don't see the invisible hand creating upstarts consisting of old black women dominating their industry. Many people, even those making hiring decisions, aren't in the entreprenuerial min/max hustle culture. Those employers will consider factors other than skills and the lowest agreeable wage. People tend to like other people similar to themselves so that leaves various undesirables unemployed longer. The set of potential employers is sometimes limited, especially in the before times when people would only look for work for up to about an hour commute from where they live. Also filter employers down to an industry/skillset. Then filter by employers with openings that coincide when an applicant is looking for a job. Consider two dental technicians in a rural area that start looking for a job on the same day. If one of the three dentists in the region has a preference for some protected class, then the "wrong" applicant may be job hunting for a while longer. There are also some jobs with tangible incentives for discrimination. Any role that benefits from sex appeal can favor young, attractive females. Jobs that are physically demanding can favor young and fit men.

Gigachad 3y ago

To some degree it’s the fact that markets aren’t perfectly efficient and companies aren’t perfectly rational. Another component is that biases and stereotypes are often somewhat accurate, more so than random luck.

JohnFen 3y ago

Capitalism doesn't run on rationality.

yummypaint 3y ago

Companies don't want to employ people, they want to make money. Read about the antebellum american south and you will find answers to the questions you have posed. Race was invented for the purpose of companies obtaining free labor, and is a true capitalist "innovation". Modern naratives about for profit organizations are far too charitable. If companies were human they would all be psychopaths.

burnished 3y ago

Because the efficient market hypothesis really only makes sense under a bunch of other assumptions; rational actors, perfect information, and parity between buyers and sellers. Most markets that are important to you do not adhere to these constraints.