Search results for ""author mehrsa baradaran""

“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 KleinWhen 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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From the author of The Color of Money, a powerful and disturbing account of how free-market ideologues rigged American law to benefit the rich

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The United States has two separate banking systems today—one serving the well-to-do and another exploiting everyone else. How the Other Half Banks contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. Mehrsa Baradaran examines how a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities—all thanks to deregulation that began in the 1970s and continues decades later.“Baradaran argues persuasively that the banking industry, fattened on public subsidies (including too-big-to-fail bailouts), owes low-income families a better deal…How the Other Half Banks is well researched and clearly written…The bankers who fully understand the system are heavily invested in it. Books like this are written for the rest of us.”—Nancy Folbre, New York Times Book Review“How the Other Half Banks tells an important story, one in which we have allowed the profit motives of banks to trump the public interest.”—Lisa J. Servon, American Prospect

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