If you follow the econ blogosphere, you may have heard about Gary Becker's death. He was the Nobel laureate who introduced and popularized this idea -- which is today consensus among economists: in a competitive marketplace the presence of discriminatory business practices would create profit opportunities for less-discriminatory business practitioners. This economic behavior demonstrates that all sorts of moral problems can be fixed by unregulated markets. It claims that deep moral problems of racism and gender discrimination are largely solved when people are allowed to act freely because that freedom favors those who engage in the most morally supported behaviors. I agree with this and I think the same is true of virtually all aspects of society

Becker became famous for showing the economics profession (and the world) that economics is in everything