as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the concept of 'institutional racism.'
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institutional racism is a form of discrimination that is embedded in a range of institutions such as education, healthcare and the legal system. it refers to the way systems and structures are designed and implemented in ways that reproduce advantages and disadvantage to certain racial groups. it can take different forms such as discriminating practices in hiring and promotion decisions, lower quality services for certain racial groups, or unequal educational opportunities. all of these unfair practices can lead to disparities between racial groups in terms of educational attainment, employment, healthcare, and criminal justice.
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