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

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

Audio CD(Unabridged)

$44.99 View All Available Formats & Editions
Choose Expedited Shipping at checkout for guaranteed delivery by Thursday, October 24

Overview

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.

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.

Mehrsa 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.

Product Details

ISBN-13: 9781541414853
Publisher: Tantor Media, Inc.
Publication date: 09/26/2017
Edition description: Unabridged
Sales rank: 757,017
Product dimensions: 6.40(w) x 5.30(h) x 1.10(d)

About the Author

Mehrsa Baradaran is J. Alton Hosch Associate Professor of Law at the University of Georgia School of Law and author of How the Other Half Banks.

Lisa Renee Pitts is an award-winning actress in theater, television, and film, as well as an accomplished audiobook narrator and an AudioFile Earphones Award winner.

Customer Reviews

Most Helpful Customer Reviews

See All Customer Reviews

The Color of Money: Black Banks and the Racial Wealth Gap 5 out of 5 based on 0 ratings. 1 reviews.
Anonymous More than 1 year ago
One of the best books to read about the banking industry and its role in wealth/income discrimination. It will make you think twice about your money, where you bank and how you spend it.