Since 2015, the consulting firm McKinsey and Company has produced studies that have been widely used to justify imposing DEI measures. The studies claimed that racial and ethnic diversity improved corporate performance in America’s publicly traded companies.
But according to a new study in the Econ Journal Watch, the McKinsey studies can’t be replicated. The journal points out errors in the McKinsey results, and states they’re not reliable. The Econ Journal Watch analysis finds no relationship between DEI and increased corporate profitability.
The result is consistent with common sense. Why would choosing employees based on race, ethnicity or sex make a company more profitable? Workers with varied perspectives and backgrounds can be helpful—but it’s wrong to assume that immutable characteristics dictates how or what anyone thinks.
McKinsey’s studies were propaganda masquerading as empirical research. Hiring on character and merit, after all, is the American way.