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Studies shows that racial discrimination has huge impact on the economy

· Discrimination based on races increases the level of poverty on the minority groups because their families lack resources and support to overcome the poverty menace affecting them.

· Discrimination based on people’s races creates a sense of stigma where minority groups feel neglected and lacks confidence about the capabilities accepting their status maintaining their poor status quo (Geller, 2020).

· The racial discrimination limits opportunities for the minority races making it difficult for them acquire job opportunities that would have boosted their living standards.

· The restriction of opportunities to the Whites in the United States denies opportunities to other races that include Hispanic and Black Americans to showcase their capabilities that would be of huge benefit to the country’s economy (Singletary, 2017).

· Racial discrimination discourages competition based on issues, concepts and ideas because other people of minority races are denied opportunity making the economy to stagnate.

Racial discrimination increases crime activities that negatively affect the economy

· Discriminating people based on their racial background increases the poverty level of the minority stigmatized groups forcing them to engage in criminal activities to meet their basic needs.

· Increased criminal activities due to racial discrimination affect business operation by scaring investors and also losses through robbery and theft affecting the economic growth.

Racism influences political choices that determines the political goodwill in the economy

· Racism contributes to political alignments and coalition concerning how the immigrants and people of color should be treated by government and this is likely to have economic impact.

· President Donald Trump’s campaign in 2016 was based on the treatment of immigrants in the United States claiming to stand for the interest of the Whites (Singletary, 2017). The issue raised a lot of concern and those in support of the discrimination supported the idea.

· The racial alignment of leaders has a negative impact to the society in comparison to what happened to George Floyd in the police cells creating a huge demonstration during the pandemic affecting business activities causing economic loss.

Racial discrimination lowers our self esteem and confidence in venturing into economic activities

· Discrimination based on race has a negative impact on our mental health limiting our aggressiveness to engage in global business activities that are essential for the economic growth.

· The discrimination causes mistrust between stakeholders in business especially investors affecting business growth.

· We lack the determination and confidence to face rival business entities that are owned by the perceived superior races.

Appreciation of diversity and accepting other races brings economic growth

· Our businesses can go global and succeed when we venture into activities and processes that are universal in nature meeting needs of diverse consumers.

· Brand awareness and good reputation of our business firms are determined on the treatment of employees and our perception about racial diversity.

We need interactions with other multiple races to understand their needs and culture

· The only way we can meet diverse consumer needs in our businesses is to know the cultural interests of different racial groups.

· We need to unify without issues of racial discrimination to put in place government that meets the needs of all.

· People get empowered through interacting with diverse cultures.

We suffer economic mobility when racial discrimination dominates

· Racism restricts us from engaging in economic activity with the Whites and Europeans because of the fear of stigma and stereotyping associated with differences in color.

· We are limiting our creativity and innovation by engaging in economic activities within a given racial isolated area.

Conclusion

· Racial discrimination has a negative impact in the economic growth of a country and should be avoided at all costs.

· The economic and racial freedom for citizens promotes creativity that would help built the economy better increasing the country’s GDP.

· I usually feel wrong and unnecessary to discriminate others since we are all equal.

References

Bagalini, A. (2020).  5 ways racism is bad for business – and what we can do about it. World Economic Forum. Retrieved 15 October 2020, from https://www.weforum.org/agenda/2020/07/racism-bad-for-business-equality-diversity/.

Geller, J. (2020). Economics and Racism in the United States.  Economic News,  55(17). https://doi.org/10.1176/appi.pn.2020.9a20

Singletary, M. (2017).  The economic impact of racism. Washington Post. Retrieved 14 October 2020, from https://www.washingtonpost.com/news/get-there/wp/2017/08/17/the-economic-impact-of-racism/.