The color of money : black banks and the racial wealth gap (Book, 2019) [University of Maryland, College Park]
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The color of money : black banks and the racial wealth gap

Author: Mehrsa Baradaran
Publisher: Cambridge, Massachusetts : The Belknap Press of Harvard University Press, 2019. ©2017
Edition/Format:   Print book : English : First Harvard University Press paperback editionView all editions and formats
Summary:
"When the Emancipation Proclamation was signed in 1863, the black community owned less than one percent of the United States' total wealth. More than one hundred and fifty years later, that number has barely budged. The Color of Money seeks to explain the stubborn persistence of this racial wealth gap by focusing on the generators of wealth in the black community: black banks. With the civil rights movement in full  Read more...
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Details

Genre/Form: History
Document Type: Book
All Authors / Contributors: Mehrsa Baradaran
ISBN: 9780674237476 0674237471
OCLC Number: 1059249851
Awards: Winner of Best Book in Urban Affairs Award 2019 (United States)
Short-listed for Georgia Author-of-the Year Award 2018
Nominated for Joseph Levenson Book Prize 2018
Description: 371 pages ; 21 cm
Contents: Forty acres or a savings bank --
Capitalism without capital --
The rise of black banking --
The new deal for white America --
Civil rights dreams, economic nightmares --
The decoy of black capitalism --
The free market confronts black poverty --
The color of money matters.
Responsibility: Mehrsa Baradaran.

Abstract:

"When the Emancipation Proclamation was signed in 1863, the black community owned less than one percent of the United States' total wealth. More than one hundred and fifty years later, that number has barely budged. The Color of Money seeks to explain the stubborn persistence of this racial wealth gap by focusing on the generators of wealth in the black community: black banks. With the civil rights movement in full swing, President Nixon promoted "black capitalism," a plan to support black banks and minority-owned businesses. But the catch-22 of black banking is that the very institutions needed to help communities escape the deep poverty caused by discrimination and segregation inevitably became victims of that same poverty. In this timely and eye-opening account, Baradaran challenges the long-standing belief that black communities could ever really hope to accumulate wealth in a segregated economy"--Back cover.
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Lays out how, over centuries, policymakers wrote Black Americans out of the economic system...Baradaran's work resonates now as millions protest around the U.S.-speaking out not only against police Read more...

 
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