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Cost of Diversity

Cost of Diversity

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Published by: Jack and friend on Nov 15, 2008
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Research and Assessment from
The National Policy Institute
October 2008: Issue Number 803
 All NPI publications can be found at:
WWW
.
NATIONALPOLICYINSTITUTE
.
ORG
Cost of Diversity
The Economic Costs of Racial and Cultural Diversity
Edwin S. Rubenstein and the Staff of NPI 
NPI
“to ourselves and our posterity”
Preamble to the Constitution
 
N
 ATIONAL
P
OLICY
I
NSTITUTE
P.O. Box 3465 
  Augusta, GA 30914
706-736-4884
nationalpolicyinstitute.org
 
T
he Cost o Diversity is a ollow up to a study by Peter Brimelow and Leslie Spencer, “When quotas replacemerit, everybody suers,” Forbes, February 15, 1993.Edwin S. Rubenstein, under the sponsorship o the National Policy Institute, has updated this groundbreaking study and expanded it. The “Economic Costs o Racial and Cultural Diversity” puts the annual wasteat over $1.1 trillion dollars. To make this Washington size number comprehensible Rubenstein breaks it intocosts and benets expressed by amily groups. Asian amilies pay the most and Hispanic amilies get most.Farther along the ood chain whites give up less and blacks get less.By training and experience Mr. Rubenstein is well credentialed to take on a study o this magnitude. He isPresident o ESR Research, economic consultants, and has 25 years experience in business research, nancialanalysis, and economics journalism. Mr. Rubenstein joined Hudson Institute, a public policy think tank head-quartered in Indianapolis, as Director o Research in November 1997. At Hudson he wrote proposals andconducted research on a wide array o topics, including workorce development, the impact o AIDS on SouthArica’s labor orce, Boston’s “Big Dig” the economic impact o transportation inrastructure, and the utureo the private water industry in the U.S.As a journalist, Mr. Rubenstein was a contributing editor at
Forbes
Magazine and economics editor at
National Review
, where his “The Right Data” column was eatured or more than a decade. TV appearancesinclude Firing Line, Bill Moyers, McNeil-Lehr, CNBC, and Debates-Debates. In The Right Data (
National Review
Press, 1994), Rubenstein debunks many widely held belies surrounding the distribution o income,government spending, and the nature o economic growth.Mr. Rubenstein is also an adjunct ellow at the Manhattan Institute where he is principal investigator in theinstitute’s ongoing analysis o New York State’s budget and tax structure. He also published a newsletter devotedto economic statistics and contributed regularly to
The City Journal 
, the Manhattan Institute’s quarterly.From 1980 to 1986 he was senior economist at W.R. Grace & Co. where he directed studies o govern-ment waste and ineciency or the Grace Commission.From 1978 to 1980 he was a municipal bond analyst or
Moody’s Investors Service
where he was alsoeditor o the
Bond Survey
, a weekly review o the municipal bond market. He served as senior quantitativeanalyst or the Oce o the Mayor o New York City rom 1973 to 1978. He also was sta economist or theNew York State Commission on Education (the Fleischman Commission), and was principal investigator on astudy o multinational corporations published by the Institute or Public Administration. Mr. Rubenstein hasa B.A. in economics rom Johns Hopkins, and an M.A. in public nance rom Columbia University.In addition to detailing the inequity o current laws and practices the National Policy Institute oers thebeginning o a solution. In 1995 an Equal Opportunity Act was introduced in Congress by Senator Robert Doleand Representative Charles Canady. The intent and language was on point then and is even more pertinentnow. In part the bill provided that:
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