Book picks similar to
History of the Black Dollar by Angel Rich


finance
banking-finance-econ-etc
business
history

Color of Money: Black Banks and the Racial Wealth Gap


Mehrsa Baradaran - 2017
    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.

Black Labor, White Wealth : The Search for Power and Economic Justice


Claud Anderson - 1941
    Anderson's first book is a classic. It tracks slavery and Jim Crow public policies that used black labor to construct a superpower nation. It details how black people were socially engineered into the lowest level of a real life Monopoly game, which they are neither playing or winning. Black Labor is a comprehensive analysis of the issues of race. Dr. Anderson uses the anaylsis in this book to offer solutions to America's race problem.

Black Titan: A.G. Gaston and the Making of a Black American Millionaire


Carol Jenkins - 2003
    G. Gaston died more than a century later with a fortune worth well over $130 million and a business empire spanning communications, real estate, and insurance. Gaston was, by any measure, a heroic figure whose wealth and influence bore comparison to J. P. Morgan and Andrew Carnegie. Here, for the first time, is the story of the life of this extraordinary pioneer, told by his niece and grandniece, the award-winning television journalist Carol Jenkins and her daughter Elizabeth Gardner Hines.Born at a time when the bitter legacy of slavery and Reconstruction still poisoned the lives of black Americans, Gaston was determined to make a difference for himself and his people. His first job, after serving in the celebrated all-black regiment during World War I, bound him to the near-slavery of an Alabama coal mine—but even here Gaston saw not only hope but opportunity. He launched a business selling lunches to fellow miners, soon established a rudimentary bank—and from then on there was no stopping him. A kind of black Horatio Alger, Gaston let a single, powerful question be his guide: What do our people need now? His success flowed from an uncanny genius for knowing the answer. Combining rich family lore with a deep knowledge of American social and economic history, Carol Jenkins and Elizabeth Hines unfold Gaston’s success story against the backdrop of a century of crushing racial hatred and bigotry. Gaston not only survived the hardships of being black during the Depression, he flourished, and by the 1950s he was ruling a Birmingham-based business empire. When the movement for civil rights swept through the South in the late 1950s and early 1960s, Gaston provided critical financial support to many activists.At the time of his death in 1996, A. G. Gaston was one of the wealthiest black men in America, if not the wealthiest. But his legacy extended far beyond the monetary. He was a man who had proved it was possible to overcome staggering odds and make a place for himself as a leader, a captain of industry, and a far-sighted philanthropist. Writing with grace and power, Jenkins and Hines bring their distinguished ancestor fully to life in the pages of this book. Black Titan is the story of a man who created his own future—and in the process, blazed a future for all black businesspeople in America.From the Hardcover edition.

Four Hundred Souls: A Community History of African America, 1619-2019


Ibram X. Kendi - 2021
    Kendi, author of the number one bestseller How To Be an Antiracist, and fellow historian Keisha N. Blain, Four Hundred Souls begins with the arrival of twenty enslaved Ndongo people on the shores of the British colony in mainland America in 1619, the year before the arrival of the Mayflower. In eighty chronological chapters, the book charts the tragic and triumphant four-hundred-year history of Black American experience in a choral work of exceptional power and beauty. Contributors include some of the best-known scholars, writers, historians, journalists, lawyers, poets and activists of contemporary America who together bring to vivid life countless new facets to the drama of slavery and resistance, segregation and survival, migration and self-discovery, cultural oppression and world-changing artistic, literary and musical creativity. In these pages are dozens of extraordinary lives and personalities, rescued from the archives and restored to their rightful place in America's narrative, as well as the ghosts of millions more.Four Hundred Souls is an essential work of story-telling and reclamation that redefines America and changes our notion of how history is written.

The Warmth of Other Suns: The Epic Story of America's Great Migration


Isabel Wilkerson - 2010
    Wilkerson compares this epic migration to the migrations of other peoples in history. She interviewed more than a thousand people, and gained access to new data and official records, to write this definitive and vividly dramatic account of how these American journeys unfolded, altering our cities, our country, and ourselves.With stunning historical detail, Wilkerson tells this story through the lives of three unique individuals: Ida Mae Gladney, who in 1937 left sharecropping and prejudice in Mississippi for Chicago, where she achieved quiet blue-collar success and, in old age, voted for Barack Obama when he ran for an Illinois Senate seat; sharp and quick-tempered George Starling, who in 1945 fled Florida for Harlem, where he endangered his job fighting for civil rights, saw his family fall, and finally found peace in God; and Robert Foster, who left Louisiana in 1953 to pursue a medical career, the personal physician to Ray Charles as part of a glitteringly successful medical career, which allowed him to purchase a grand home where he often threw exuberant parties.Wilkerson brilliantly captures their first treacherous and exhausting cross-country trips by car and train and their new lives in colonies that grew into ghettos, as well as how they changed these cities with southern food, faith, and culture and improved them with discipline, drive, and hard work. Both a riveting microcosm and a major assessment, The Warmth of Other Suns is a bold, remarkable, and riveting work, a superb account of an “unrecognized immigration” within our own land. Through the breadth of its narrative, the beauty of the writing, the depth of its research, and the fullness of the people and lives portrayed herein, this book is destined to become a classic.

Uncomfortable Conversations With a Black Man


Emmanuel Acho - 2020
    “There is a fix,” Acho says. “But in order to access it, we’re going to have to have some uncomfortable conversations.”In Uncomfortable Conversations With a Black Man, Acho takes on all the questions, large and small, insensitive and taboo, many white Americans are afraid to ask—yet which all Americans need the answers to, now more than ever. With the same open-hearted generosity that has made his video series a phenomenon, Acho explains the vital core of such fraught concepts as white privilege, cultural appropriation, and “reverse racism.”In his own words, he provides a space of compassion and understanding in a discussion that can lack both. He asks only for the reader’s curiosity—but along the way, he will galvanize all of us to join the antiracist fight.

The Half Has Never Been Told: Slavery and the Making of American Capitalism


Edward E. Baptist - 2013
    But to do so robs the millions who suffered in bondage of their full legacy.As historian Edward Baptist reveals in The Half Has Never Been Told, the expansion of slavery in the first eight decades after American independence drove the evolution and modernization of the United States. In the span of a single lifetime, the South grew from a narrow coastal strip of worn-out tobacco plantations to a continental cotton empire, and the United States grew into a modern, industrial, and capitalist economy. Until the Civil War, Baptist explains, the most important American economic innovations were ways to make slavery ever more profitable. Through forced migration and torture, slave owners extracted continual increases in efficiency from enslaved African Americans. Thus the United States seized control of the world market for cotton, the key raw material of the Industrial Revolution, and became a wealthy nation with global influence.Told through intimate slave narratives, plantation records, newspapers, and the words of politicians, entrepreneurs, and escaped slaves, The Half Has Never Been Told offers a radical new interpretation of American history. It forces readers to reckon with the violence at the root of American supremacy, but also with the survival and resistance that brought about slavery’s end—and created a culture that sustains America’s deepest dreams of freedom.

Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership


Keeanga-Yamahtta Taylor - 2019
    Reasoning that the turbulence could be calmed by turning Black city-dwellers into homeowners, they passed the Housing and Urban Development Act of 1968, and set about establishing policies to induce mortgage lenders and the real estate industry to treat Black homebuyers equally. The disaster that ensued revealed that racist exclusion had not been eradicated, but rather transmuted into a new phenomenon of predatory inclusion. Race for Profit uncovers how exploitative real estate practices continued well after housing discrimination was banned. The same racist structures and individuals remained intact after redlining's end, and close relationships between regulators and the industry created incentives to ignore improprieties. Meanwhile, new policies meant to encourage low-income homeownership created new methods to exploit Black homeowners. The federal government guaranteed urban mortgages in an attempt to overcome resistance to lending to Black buyers - as if unprofitability, rather than racism, was the cause of housing segregation. Bankers, investors, and real estate agents took advantage of the perverse incentives, targeting the Black women most likely to fail to keep up their home payments and slip into foreclosure, multiplying their profits. As a result, by the end of the 1970s, the nation's first programs to encourage Black homeownership ended with tens of thousands of foreclosures in Black communities across the country. The push to uplift Black homeownership had descended into a goldmine for realtors and mortgage lenders, and a ready-made cudgel for the champions of deregulation to wield against government intervention of any kind. Narrating the story of a sea-change in housing policy and its dire impact on African Americans, Race for Profit reveals how the urban core was transformed into a new frontier of cynical extraction.

How the Word Is Passed: A Reckoning with the History of Slavery Across America


Clint Smith - 2021
    It is the story of the Monticello Plantation in Virginia, the estate where Thomas Jefferson wrote letters espousing the urgent need for liberty while enslaving over 400 people on the premises. It is the story of the Whitney Plantation, one of the only former plantations devoted to preserving the experience of the enslaved people whose lives and work sustained it. It is the story of Angola Prison in Louisiana, a former plantation named for the country from which most of its enslaved people arrived and which has since become one of the most gruesome maximum-security prisons in the world. And it is the story of Blandford Cemetery, the final resting place of tens of thousands of Confederate soldiers. In a deeply researched and transporting exploration of the legacy of slavery and its imprint on centuries of American history, How the Word Is Passed illustrates how some of our country's most essential stories are hidden in plain view-whether in places we might drive by on our way to work, holidays such as Juneteenth, or entire neighborhoods—like downtown Manhattan—on which the brutal history of the trade in enslaved men, women and children has been deeply imprinted. Informed by scholarship and brought alive by the story of people living today, Clint Smith’s debut work of nonfiction is a landmark work of reflection and insight that offers a new understanding of the hopeful role that memory and history can play in understanding our country.

The New Jim Crow: Mass Incarceration in the Age of Colorblindness


Michelle Alexander - 2010
    His great-grandfather was beaten to death by the Klu Klux Klan for attempting to vote. His grandfather was prevented from voting by Klan intimidation; his father was barred by poll taxes and literacy tests. Today, Cotton cannot vote because he, like many black men in the United States, has been labeled a felon and is currently on parole."As the United States celebrates the nation's "triumph over race" with the election of Barack Obama, the majority of young black men in major American cities are locked behind bars or have been labeled felons for life. Although Jim Crow laws have been wiped off the books, an astounding percentage of the African American community remains trapped in a subordinate status--much like their grandparents before them.In this incisive critique, former litigator-turned-legal-scholar Michelle Alexander provocatively argues that we have not ended racial caste in America: we have simply redesigned it. Alexander shows that, by targeting black men and decimating communities of color, the U.S. criminal justice system functions as a contemporary system of racial control, even as it formally adheres to the principle of color blindness. The New Jim Crow challenges the civil rights community--and all of us--to place mass incarceration at the forefront of a new movement for racial justice in America.

Black Fortunes: The Story of the First Six African Americans Who Escaped Slavery and Became Millionaires


Shomari Wills - 2018
    Robert Reed Church, became the largest landowner in Tennessee. Hannah Elias, the mistress of a New York City millionaire, used the land her lover gave her to build an empire in Harlem. Orphan and self-taught chemist Annie Turnbo-Malone, developed the first national brand of hair care products. Mississippi school teacher O. W. Gurley, developed a piece of Tulsa, Oklahoma, into a “town” for wealthy black professionals and craftsmen that would become known as “the Black Wall Street.” Although Madam C. J Walker was given the title of America’s first female black millionaire, she was not. She was the first, however, to flaunt and openly claim her wealth—a dangerous and revolutionary act.Nearly all the unforgettable personalities in this amazing collection were often attacked, demonized, or swindled out of their wealth. Black Fortunes illuminates as never before the birth of the black business titan.

Hair Story: Untangling the Roots of Black Hair in America


Ayana Byrd - 2001
    From the antebellum practice of shaving the head in an attempt to pass as a "free" person to the 1998 uproar over a White third-grade teacher's reading of the book Nappy Hair, the issues surrounding Black hair linger as we enter the twenty-first century.Tying the personal to the political and the popular, Hair Story takes a chronological look at the culture behind the ever-changing state of Black hair-from fifteenth century Africa to the present-day United States. Hair Story is the book that Black Americans can use as a benchmark for tracing a unique aspect of their history and that people of all races will celebrate as the reference guide for understanding Black hair.

The 1619 Project: A New Origin Story


Nikole Hannah-JonesNikole Hannah-Jones - 2019
    In late August 1619, a ship arrived in the British colony of Virginia bearing a cargo of twenty to thirty enslaved people from Africa. Their arrival led to the barbaric and unprecedented system of American chattel slavery that would last for the next 250 years. This is sometimes referred to as the country’s original sin, but it is more than that: It is the source of so much that still defines the United States. The 1619 Project: A New Origin Story builds on The New York Times Magazine’s award-winning “1619 Project,” which reframed our understanding of American history by placing slavery and its continuing legacy at the center of our national narrative. This book substantially expands on the original "1619 Project, "weaving together eighteen essays that explore the legacy of slavery in present-day America with thirty-six poems and works of fiction that illuminate key moments of oppression, struggle, and resistance. The essays show how the inheritance of 1619 reaches into every part of contemporary American society, from politics, music, diet, traffic, and citizenship to capitalism, religion, and our democracy itself. This legacy can be seen in the way we tell stories, the way we teach our children, and the way we remember. Together, the elements of the book reveal a new origin story for the United States, one that helps explain not only the persistence of anti-Black racism and inequality in American life today, but also the roots of what makes the country unique. The book also features an elaboration of the original project’s Pulitzer Prize–winning lead essay by Nikole Hannah-Jones on how the struggles of Black Americans have expanded democracy for all Americans, as well as two original pieces from Hannah-Jones, one of which makes a case for reparative solutions to this legacy of injustice.

Begin Again: James Baldwin's America and Its Urgent Lessons for Our Own


Eddie S. Glaude Jr. - 2020
    Glaude Jr., in a moment when the struggles of Black Lives Matter and the attempt to achieve a new America have been challenged by the election of Donald Trump, a president whose victory represents yet another failure of America to face the lies it tells itself about race. From Charlottesville to the policies of child separation at the border, his administration turned its back on the promise of Obama's presidency and refused to embrace a vision of the country shorn of the insidious belief that white people matter more than others.We have been here before: For James Baldwin, these after times came in the wake of the civil rights movement, when a similar attempt to compel a national confrontation with the truth was answered with the murders of Medgar Evers, Malcolm X, and Martin Luther King, Jr. In these years, spanning from the publication of The Fire Next Time in 1963 to that of No Name in the Street in 1972, Baldwin transformed into a more overtly political writer, a change that came at great professional and personal cost. But from that journey, Baldwin emerged with a sense of renewed purpose about the necessity of pushing forward in the face of disillusionment and despair.In the story of Baldwin's crucible, Glaude suggests, we can find hope and guidance through our own after times, this Trumpian era of shattered promises and white retrenchment. Mixing biography--drawn partially from newly uncovered interviews--with history, memoir, and trenchant analysis of our current moment, Begin Again is Glaude's endeavor, following Baldwin, to bear witness to the difficult truth of race in America today. It is at once a searing exploration that lays bare the tangled web of race, trauma, and memory, and a powerful interrogation of what we all must ask of ourselves in order to call forth a new America.

White Rage: The Unspoken Truth of Our Racial Divide


Carol Anderson - 2016
    With so much attention on the flames," she argued, "everyone had ignored the kindling."Since 1865 and the passage of the Thirteenth Amendment, every time African Americans have made advances towards full participation in our democracy, white reaction has fueled a deliberate and relentless rollback of their gains. The end of the Civil War and Reconstruction was greeted with the Black Codes and Jim Crow; the Supreme Court's landmark 1954 Brown v. Board of Education decision was met with the shutting down of public schools throughout the South while taxpayer dollars financed segregated white private schools; the Civil Rights Act of 1964 and Voting Rights Act of 1965 triggered a coded but powerful response, the so-called Southern Strategy and the War on Drugs that disenfranchised millions of African Americans while propelling presidents Nixon and Reagan into the White House, and then the election of America's first black President, led to the expression of white rage that has been as relentless as it has been brutal.Carefully linking these and other historical flashpoints when social progress for African Americans was countered by deliberate and cleverly crafted opposition, Anderson pulls back the veil that has long covered actions made in the name of protecting democracy, fiscal responsibility, or protection against fraud, rendering visible the long lineage of white rage. Compelling and dramatic in the unimpeachable history it relates, White Rage will add an important new dimension to the national conversation about race in America.