BlackReader.com

The Color of Money: Black Banks and the Racial Wealth Gap - Hardcover

In Stock Unavailable

sold in last hours

Regular price $15.99 |  Save $-15.99 (Liquid error (sections/product-template.liquid line 179): divided by 0% off)
/

When the Emancipation Proclamation was signed in 1863, the black community owned less than one percent of the United States’ total wealth. More than 150 years later, that number has barely budged. The Color of Money pursues the persistence of this racial...
-10

Estimated delivery between and .

People looking for this product right now

Product Details

When the Emancipation Proclamation was signed in 1863, the black community owned less than one percent of the United States’ total wealth. More than 150 years later, that number has barely budged. The Color of Money pursues the persistence of this racial wealth gap by focusing on the generators of wealth in the black community: black banks. Studying these institutions over time, Mehrsa Baradaran challenges the myth that black communities could ever accumulate wealth in a segregated economy. Instead, housing segregation, racism, and Jim Crow credit policies created an inescapable, but hard to detect, economic trap for black communities and their banks.

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. Not only could black banks not “control the black dollar” due to the dynamics of bank depositing and lending but they drained black capital into white banks, leaving the black economy with the scraps.

Baradaran challenges the long-standing notion that black banking and community self-help is the solution to the racial wealth gap. These initiatives have functioned as a potent political decoy to avoid more fundamental reforms and racial redress. Examining the fruits of past policies and the operation of banking in a segregated economy, she makes clear that only bolder, more realistic views of banking’s relation to black communities will end the cycle of poverty and promote black wealth.

Shipping & Returns

Returns Policy

SHIPPING Your orders will be shipped within 48 hours of receiving your successful payment. You will also receive an email or text once the books have been shipped, your tracking information will be included. RETURNS Once you have received your shipment you have 48 hours to contact us using the return form below to return your purchase. Please include all requested information to receive in store credit toward another purchase. All products must be returned in resale condition.

Recently Viewed Products

The Color of Money: Black Banks and the Racial Wealth Gap - Hardcover
Softcover - $15.99
  • Softcover - $15.99
  • Hardcover - $31.99

The Color of Money: Black Banks and the Racial Wealth Gap - Hardcover

What are you looking for?

Your cart