What is economic discrimination?

Economic discrimination is a term used to describe the occurrence of some bias or discrimination based on economic factors. This type of distortion can be based on a wide range of demographic data that seeks to marginalize certain groups in the economy, including selected groups of workers, consumers or even specific types of enterprises. The concept of economic discrimination was first approached in the United Kingdom in the mid -19th century and is often quoted as part of the foundations that prevent fees or wage offering based on the bias of the company.

While price discrimination is often closely linked to economic discrimination, two terms relate to two different scenarios. With price discrimination, monopolies charge different buyers different prices for the same goods and services based on their willingness to pay. On the other hand, economic discrimination does not deal with willingness to pay, but the tatributes who actually make the purchase.

It is possible that economic discrimination takes place in a number of different environments. Since it concerns workers, this form of bias may be based on factors such as gender, sexual orientation, religious preference, ethnicity or even age. In this situation, some employees may be offered higher wages because they do not have any attribute that the company owner considers undesirable. For example, a worker who is a member of a religion that is not well known in this area is beyond some age and comes from a specific ethnic background that can be offered lower than the wages offered by someone who was a member of the right religion, was under the age, and came from what the owner considered the desired ethnic background. This would be true, even if both people had the same level of skills and were Apple for the same position in the company.

Another manifestation of the economic description is focused on consumers in general. Here canThe retailer offers products to consumers and set up a price extended to factors such as a neighborhood with a retail socket. For example, if a retail chain operates a trade in an area that is often visited by minorities, a retailer may actually charge higher prices for the same goods sold in other stores located in more desired areas. The insurance company can also assess higher rates based on race, age or gender factors. In these examples, consumers who do not fall into a relatively narrow view of what the company considers to be an ideal customer is highly likely that costs pay significantly higher than the consumers that the company wants to attract.

businesses can also be victims of economic discrimination. In this scenario, gender, race and religious preferences may be a factor in the type of prices that the company pays. This means that the owner of a company that is a member of a minority race and religion in this cloudSti and is not a typical sex for owners of this type of company, can pay more for the same business services offered to owners who are considered desirable in terms of gender, religion and race.

There are laws in some countries around the world that help minimize the amount of economic discrimination that occurs. Even in countries with regulations against this type of economic activity, there are still cases, although it may be more difficult to prove. If an example of economic discrimination is identified, it should be immediately reported to government authorities. In some cases, current laws may also provide the basis for victims of discrimination to file civic actions as one course of compensation for discriminatory practices related to the incident.