"Citigroup estimates that since 2000, racial discrimination has cost the U.S. economy up to $16 trillion in lost GDP."
That study was published in 2020, so that's $16 trillion over roughly 20 years, or $640 billion a year, or somewhere between the GDP of Colorado and Michigan. It's like losing almost an entire state of Michigan GDP each and every year, year after year.
All for preserving some folks' sense of status.
And unlike most goods, we can't manufacture more status, or grow the pie of it, so that everyone can have one. It's truly rivalrous, coming at the expense of others. So too bad if you lose it. It hurts, but it's fair.
"Citigroup estimates that since 2000, racial discrimination has cost the U.S. economy up to $16 trillion in lost GDP."
That study was published in 2020, so that's $16 trillion over roughly 20 years, or $640 billion a year, or somewhere between the GDP of Colorado and Michigan. It's like losing almost an entire state of Michigan GDP each and every year, year after year.
All for preserving some folks' sense of status.
And unlike most goods, we can't manufacture more status, or grow the pie of it, so that everyone can have one. It's truly rivalrous, coming at the expense of others. So too bad if you lose it. It hurts, but it's fair.
Right, so we have to assume, all things equal, another $3.2 trillion since the study was published.