Amicus Brief Calculates Economic Impacts of Discrimination in the Marketplace

In a notable development, William Michael Cunningham, economist, sought to file an amicus brief in the United States Court of Appeals for the Eleventh Circuit, highlighting the detrimental effects of discrimination.
WASHINGTON - Feb. 17, 2024 - PRLog -- In a recent and notable development, William Michael Cunningham, renowned economist and activist, attempted to file an amicus brief in American Alliance for Equal Rights v. Fearless Fund Management, LLC et al, a case before the United States Court of Appeals for the Eleventh Circuit.  Cunningham states that the filing was made independently as a US citizen under the freedom of speech clause of the US constitution. The amicus brief highlighted the detrimental effects of anti-Black racial discrimination on market efficiency and brought to light significant economic concerns related to market asymmetries caused by discrimination, particularly against Black women. Ironically, the brief was not accepted due to the 11th circuit's racist and discriminatory filing prerequisites.

Cunningham's comprehensive economic analysis reveals that such discrimination not only undermines market fairness but also leads to substantial financial losses across various sectors, including charitable organizations, investment entities, and government-related agencies. His findings, utilizing the firm's proprietary Fully Adjusted Return® Methodology, estimate a staggering total cost of $7.15 billion due to the adverse impacts on legal costs, donations, investment perceptions, and broader economic activities. (This calculation applies to the Fearless Fund case only.)

Further illuminating the racist and discriminatory financial landscape, Cunningham commented on a separate but related matter. The University of North Carolina agreed to a $4.8 million settlement with the same  anti-affirmative action group. Cunningham expressed concerns over the financial strain this places on educational institutions, potentially diverting crucial resources away from student aid and programs, and the chilling effect it may have on diversity initiatives. Further, the pursuit of excessive legal fees post-ruling, along with the financial impact on educational institutions and potential deterrents to diversity initiatives, are indicative of a primarily financial motivation.

This scenario raises concerns about the potential for financial gain to drive litigation strategies that impact public institutions and policies​.

​Racists are filing anti-diversity cases not in pursuit of justice, but in order to get paid.

Cunningham's insights call for urgent action to address market disparities and foster a more inclusive economy that benefits all stakeholders. His work underscores the importance of equitable policies and practices in promoting market efficiency and fairness.

For more information and detailed analysis, please refer to the full article on Black Enterprise's website:

For a summary of the amicus brief, contact

Creative Investment Research
William Michael Cunningham
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Page Updated Last on: Feb 19, 2024

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