>He argues that it is always more expensive to be a racist
Of course this rather misses a lot of the effects that cause racism to stay in place like redlining and actual acts of violence.
>"the market can stay irrational longer than you can stay solvent"
Can also be supplanted by
>Ignorant racists can hang around longer than your lifespan.
Or are we going to forget shit like the Tulsa race massacre where black and integrated businesses were burned to the ground? There is quite an advantage to be segregated if the other option is having your shit burned. Things like integration laws are just one piece in a legal framework to ensure criminal acts don't occur.
Well redlining was government policy, and he actually addresses the perverse effects of government policy that enforce discrimination in the chapter.
He also specifically addresses violence as positive harm that the government has a duty to prevent.
I'd really encourage you to spend the 15 minutes to track down this chapter of Friedman's book and read it because it addresses most of what you're talking about.
Of course this rather misses a lot of the effects that cause racism to stay in place like redlining and actual acts of violence.
>"the market can stay irrational longer than you can stay solvent"
Can also be supplanted by
>Ignorant racists can hang around longer than your lifespan.
Or are we going to forget shit like the Tulsa race massacre where black and integrated businesses were burned to the ground? There is quite an advantage to be segregated if the other option is having your shit burned. Things like integration laws are just one piece in a legal framework to ensure criminal acts don't occur.