Affirmative action policies based on race and ethnicity were implemented in many countries in hopes of remedying the future ramifications of past injustices. Today, decision makers in both the private and public sectors are asking fundamental questions such as: Who has benefited? Who has been harmed? What, if any, net benefits or harms have accrued to society? We’ll try to answer some of these questions and tee-up the issues that will need to be addressed in the coming decade.