Economic discrimination is a term that describes a form of discrimination based on economic factors. These factors can include job availability, wages, the prices and/or availability of goods and services, and the amount of capital investment funding available to minorities for business. The term is broadly used in economic research, and includes discrimination against workers, consumers, and minority-owned businesses.
It is not the same as price discrimination, the practice by which monopolists (and to a lesser extent oligopolists and monopolistic competitors) charge different buyers different prices based on their willingness to pay.
Read more about Economic Discrimination: History, Causes, Forms of Economic Discrimination, Global Economic Discrimination
Famous quotes containing the word economic:
“A society in which everyone works is not necessarily a free society and may indeed be a slave society; on the other hand, a society in which there is widespread economic insecurity can turn freedom into a barren and vapid right for the millions of people.”
—Eleanor Roosevelt (1884–1962)