Traditional capitalism needs "extra" people, but managerial capitalism has no use for them

Some liberals are wrong to presume that all -isms are the product of economic inequality. By doing this, they self-limit the universe of solutions only to the economic. Race may have been invented 400 years ago to divide labor, but the racist person born today doesn’t know that; all he knows is that he hates people who don’t look like him. He was born into that mindset and he accepts it as true. Increasing his wages or affording him more wealth won’t necessarily make him less racist. (And, indeed, there are many wealthy people who are racist.)

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