Felix Chang, professor of law at the University of Cincinnati, joins the Business Scholarship Podcast to discuss his article Ethnically Segmented Markets. In this article, Chang introduces the concept of ethnically segmented and misaligned markets (ESMs)–markets in which buyers and sellers are members of distinct ethnic communities–through a case study of the market for wigs and hair extensions. He observes that ESMs can be partly understood in terms of antitrust, and that they present challenges to antitrust doctrine and raise questions for interethnic equity and relations.