Companies that discriminate make less money, but that doesn’t mean that the company goes out of business tomorrow. It just means that on the average, the company may not last quite as long as other companies. You still get a steady state where companies keep entering and leaving the market, but each company that enters with bad business practices lasts somewhat less time than the other companies. That will never result in such companies not existing in the market at all. (And woe be you if a company doesn’t discriminate, gets huge, and then starts discriminating. Its advantages from being big and entrenched are so big that discrimination won’t reduce its survivability by a noticeable amount.)
That also ignores the possibility of multipolar traps where most companies discriminate, and failing to do so gets a company in trouble from all the ones that do. They would be better off if nobody discriminated, but a single company who fails to discriminate would lose.
By your reasoning, Disney and Google would have gone out of business already.
(And I can name a lot of money-losing practices where companies with those practices are still around.)
Companies that discriminate make less money, but that doesn’t mean that the company goes out of business tomorrow. It just means that on the average, the company may not last quite as long as other companies. You still get a steady state where companies keep entering and leaving the market, but each company that enters with bad business practices lasts somewhat less time than the other companies. That will never result in such companies not existing in the market at all. (And woe be you if a company doesn’t discriminate, gets huge, and then starts discriminating. Its advantages from being big and entrenched are so big that discrimination won’t reduce its survivability by a noticeable amount.)
That also ignores the possibility of multipolar traps where most companies discriminate, and failing to do so gets a company in trouble from all the ones that do. They would be better off if nobody discriminated, but a single company who fails to discriminate would lose.
By your reasoning, Disney and Google would have gone out of business already.
(And I can name a lot of money-losing practices where companies with those practices are still around.)