The Cost of Discrimination in a Capitalist System

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The idea that you have to empathize and be good to your fellow human beings is something. In a capitalist system, the owner smiles at you because one should have a good experience. If he doesn't, probably might not come back. So in that sense, it's a great equalizer. Now you can still discriminate, but it costs you.

Economist and author Branko Milanovic of the Graduate Center, CUNY, talks about his book, Capitalism, Alone, with EconTalk host Russ Roberts. They discuss inequality, the challenge of corruption in the Chinese system, and Milanovic's claim that in American capitalism, the texture of daily life is increasingly affected by the sharing economy and other opportunities.