Back in the late 90s, I used to work for a government owned utility provider. They wanted to show how pro diversity they were by allocating a percentage of their operating and capital budget to only be awarded to female and minority owned businesses. This meant the lowest bid was often ignored, and contracts were awarded to whoever met their diversity standards.
This caused so much abuse. If someone wanted to rip them off, all they had to do would be get a woman or minority to start a corporation, and bid on jobs that only had white guys bidding on. They could ask whatever they wanted, and they would get the contract. They would then subcontract the work to one of the lower bidders, and they would pocket the difference. When the people losing the bids figured it out, they would get their wife or someone to start a company, outbid them, and then pocket the extra. As a couple, they would share the windfall.
There is so much more that I don't have room to write, so the short answer is NO!