Answer to Question #295250 in Sociology for Bjoy

Question

Task: Social Class/Economic Status discrimination and give a substantial discussion about it.

Answer 1

Socioeconomic Status Discrimination

 

This discussion makes focusses on socioeconomic discrimination (SES) under discrimination statutes that govern employment, housing, education, voting, public accommodations, and credit/lending. Economic discrimination is 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. This can include discrimination against workers, consumers, and minority-owned businesses.

It is not the same as price discrimination the practice by which  (and to a lesser extentoligopolists  and monopolistic competitors charge different buyers different prices based on their willingness to pay</span>.

 

Forms

There are several forms of economic discrimination. The most common form of discrimination is wage inequality, followed by unequal hiring practices. But there is also discrimination against minority consumers and minority businesses in a number of areas, and religious or ethnic discrimination in countries outside of the United States. Below we discuss a few forms of discrimination.

Hiring discrimination.

Hiring discrimination is similar to wage discrimination in its pattern. It typically consists of employers choosing to hire a certain race candidate over a minority candidate, or a male candidate over a female candidate, to fill a position. A study of employment patterns in the US indicated that the number of hiring discrimination cases has increased fivefold in the past 20 years. However, their percentage as a whole fraction of the workforce hiring has decreased almost as drastically. With the stiff laws against discrimination in hiring, companies are very careful in who they hire and do not hire.

 

Capital investment discrimination

A more significant source of perceived discrimination is in capital investment markets. Banks are often accused of not providing loans and other financial instruments inner-city minority owned businesses. Most research indicates that the banking industry as a whole is systemic in its abuse of the legal system in avoidance of "high risk" loans to minorities, pointing out that banks cannot provide facts backing up their assertions that they deny such loans to a high failure rate.

 

References.

 The State of Wage Inequality in the Workplace Hired. Retrieved 18 August 2020.

 

Gordon-Reed, Annette. 2018. “America’s Original Sin: Slavery and the Legacy of White Supremacy.” Foreign Affairs.

Leonhardt, David. Financial Careers Come at a Cost to Families. The New York Times. Retrieved 18 August 2020.