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Book Synopsis: “Read this book. It explains so much about the moment…Beautiful, heartbreaking work.” —Ta-Nehisi Coates
“A deep accounting of how America got to a point where a median white family has 13 times more wealth than the median black family.”—The Atlantic
“Extraordinary…Baradaran focuses on a part of the American story that’s often ignored: the way African Americans were locked out of the financial engines that create wealth in America.”—Ezra Klein
When the Emancipation Proclamation was signed in 1863, the black community owned less than 1 percent of the total wealth in America. More than 150 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.
“Black capitalism has not improved the economic lives of black people, and Baradaran deftly explains the reasons why.”—Los Angeles Review of Books
“A must read for anyone interested in closing America’s racial wealth gap.”—Black Perspectives
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Are you interested in understanding the roots of the racial wealth gap in America? Look no further than "The Color of Money: Black Banks and the Racial Wealth Gap." This groundbreaking book reveals the untold story of how African Americans were excluded from the financial systems that generate wealth. Ta-Nehisi Coates called it "beautiful, heartbreaking work," while The Atlantic hailed it as a deep accounting of America's racial disparities. Get your copy today and gain valuable insights into this crucial issue.
Did you know that the black community owned less than 1 percent of America's wealth when the Emancipation Proclamation was signed in 1863? It's shocking that more than 150 years later, the racial wealth gap remains virtually unchanged. "The Color of Money" explores the key factor behind this disparity: black banks. Dive into the historical context and discover how these financial institutions were supposed to elevate black communities during the civil rights movement. However, you'll quickly realize the catch-22 that black banks faced – being both victims and enablers of poverty caused by discrimination and segregation. Uncover the truth behind this complex system and gain a deeper understanding of our nation's history.
Are you ready to challenge long-standing beliefs about black capitalism? "The Color of Money" exposes the reality that black communities have faced in their struggle to accumulate wealth in a segregated economy. The Los Angeles Review of Books states that black capitalism has not improved the economic lives of black people, and this book expertly lays out the reasons why. To truly understand America's racial wealth gap and contribute to closing it, this book is a must-read. Don't miss your chance to gain valuable knowledge and perspectives from "The Color of Money." Order your copy now.
If you are serious about making a difference and working towards closing America's racial wealth gap, "The Color of Money" is an essential addition to your reading list. Gain valuable insights, challenge traditional beliefs, and be part of a movement that strives for equality. Don't miss out on this opportunity to be informed and empowered. Order your copy of "The Color of Money" today and together, let's work towards a more inclusive and equitable financial future. Order Here
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