Wednesday, September 17, 2014

Andre LaRenzie, Chapter 5, Question #7

In chapter 5 of the book, "Naked Economics", the author,  Charles Wheelan, discusses the topic of information of economics. For example, economical information would include many different kinds of discrimination and branding. This chapter taught me about the price discrimination of healthcare between expected healthy people, and expected unhealthy people. It also talked about the racial discrimination caused by companies being unable to gather information about who a they are hiring, which leads the companies to going of data and information, usually leading to white men dominating black men in hiring competition. The last topic the author brings up is branding. People prefer McDonalds because they know what expect, where as they wouldn't at a normal restaurant. It has broadened my personal perspective on discrimination, and has given me the comfortability of discriminating. I always thought that discrimination in business was unethical, but what else would the company do if they didn't have access to all information of potential employees? You need to judge a book by its cover in that case. It ultimately broadened my perspective to thinking that it may be okay to discriminate under some circumstances.

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