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Racist Prices?

Thomas Sowell:

For decades, one of the biggest blind spots of most civil rights "leaders" and "spokesmen" for the black community has been their utter lack of knowledge of economics.

As a purely factual matter, prices do tend to be higher — and the quality of service and products lower — in stores in low-income neighborhoods. But the knee-jerk assumption that this represents "exploitation" or "racism" ignores the economics of the situation.

Read the whole thing.

What he describes can be observed in any other neighborhood. The prices of most products in a convenient store are higher than a supermarket. And usually, the prices of goods in a supermarket are higher than one finds in Costco. It's simply a matter of "bulk" and "turnover" or in other words economics.


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