Writing in a straightforward, non-technical fashion, the authors, an internationally-known roster of economists and sociologists, analyze the economics of racial discrimination, prejudice, quotas, black-white and male-female earnings differentials as well as the landmark reverse discrimination decisions in the Weber and Bakke cases. The sociological effects created by government-mandated affirmative action programs - the main public policy instrument erected to solve such problems - are described in vivid detail.