!#PDF Color of Money Black Banks and the Racial Wealth Gap #$BOOK Mehrsa Baradaran

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Mehrsa Baradaran's Color of Money: Black Banks and the Racial Wealth Gap

By : Mehrsa Baradaran Institute

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Book Synopsis :

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

Book Detail :

Author : Mehrsa Baradaran

Pages : 371 pages

Publisher : Belknap

Language :

ISBN-10 : 0674970950

ISBN-13 : 9780674970953

 

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