If I refuse to hire women and blacks, I am omitting qualified workers from my hiring pool. If my competitor is simply buying up the best available talent regardless of color or sex, he’ll have a more skilled team.
Any employer who really does discriminate simply based on race or sex is putting his bigotry ahead of profit.
We need to maintain antidiscrimination laws in public sectors, however, as there are no market-based safeguards to punish bad behavior by government employers.
Peter Schiff, The Real Crash