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Freedom Was the Call but “Instead, They Got a Bank”

In: The Myth and Propaganda of Black Buying Power

Author

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  • Jared A. Ball

    (Morgan State University)

Abstract

Claims that Black people should pool their savings, assets, and wealth with the use of Black-owned banks has a long history of being shown as insufficient in addressing economic inequality. The claim has a particular attachment to the myth of buying power and, therefore, deserves some special attention. If, as the claim goes, there is this pool of money that Black people spend which is calculated as buying power, that money should be deposited in Black banks which would allow those banks to better serve Black communities. However, this myth, being built in part upon another, that of buying power, assures, as its history makes clear, that banking Black cannot solve inequality.

Suggested Citation

  • Jared A. Ball, 2023. "Freedom Was the Call but “Instead, They Got a Bank”," Springer Books, in: The Myth and Propaganda of Black Buying Power, edition 2, chapter 0, pages 113-122, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-26549-5_7
    DOI: 10.1007/978-3-031-26549-5_7
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