Jack Waters

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capitalism and the natural rules of the market were indeed responsible for the high price of the properties of the ghetto—it’s just that those rules only applied to the ghetto. Everywhere else, there was an artificial buoy undergirding the natural markets. As Du Bois had said, “to be a poor man is hard, but to be a poor race in a land of dollars is the very bottom of hardships.”45 The ghetto housing market was poor in the land of credit.
The Color of Money: Black Banks and the Racial Wealth Gap
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