ABSTRACT

Profit is not the main reason to oppose prejudice. Basic humanity demands that the people treat other people as equals. However, profit is a powerful argument for opposing prejudice. People should be better off after the changes of the fourth industrial revolution. The Covid-19 pandemic is likely to accelerate some of the changes ahead. The Luddites of the first industrial revolution targeted what they saw as the cause of their troubles by smashing machines. Prejudice is economically harmful. Firms are on the front line when it comes to economic change. The mills that were attacked and burned in the first industrial revolution were commercial businesses. The natural environment is, unlikely as it may seem, an area to watch in the fight against prejudice. Ultimately, economists and others need to be better at telling the story of how prejudice affects the global economy.