The color of money : Black banks and the racial wealth gap / Mehrsa Baradaran.

Format:

Book

Author/Creator:

Baradaran, Mehrsa, 1978- author.

Language:

English

Subjects (All):

African Americans--Economic conditions.

African Americans.

African American banks--History.

African American banks.

Discrimination in banking--United States--History.

Discrimination in banking.

African Americans--Finance.

Wealth--United States--History.

Wealth.

Black or African American.

Banking, Personal.

Racism.

History.

Finance.

United States.

Medical Subjects:

Black or African American.

Banking, Personal.

Racism.

Genre:

History.

Physical Description:

371 pages ; 21 cm

Edition:

First Harvard University Press paperback edition.

Place of Publication:

Cambridge, Massachusetts : The Belknap Press of Harvard University Press, 2019.

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 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.

Contents:

Machine generated contents note: 1. Forty Acres or a Savings Bank

2. Capitalism without Capital

3. The Rise of Black Banking

4. The New Deal for White America

5. Civil Rights Dreams, Economic Nightmares

6. The Decoy of Black Capitalism

7. The Free Market Confronts Black Poverty

8. The Color of Money Matters.

Notes:

Includes bibliographical references (pages 289-357) and index.

ISBN:

9780674237476

0674237471

OCLC:

1059249851

Publisher Number:

99989152892