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Reviews the status of African Americans through research on Africa, the West Indies, and the Colonies, and how those different settings have affected the economic and social capabilities of the African people. It provides a history of cooperation among African Americans, describing its beginnings in the African church and its further progress as seen in the development of the Underground Railroad. Du Bois moves on to discuss the roles of emancipation, the Freedmen's Bureau, and migration. There is considerable detail and statistics about various types of economic cooperation including churches, schools, beneficial and insurance societies, secret societies, cooperative benevolence, banks, and cooperative business.
In Collective Courage, Jessica Gordon Nembhard chronicles African American cooperative business ownership and its place in the movements for Black civil rights and economic equality. Not since W. E. B. Du Bois’s 1907 Economic Co-operation Among Negro Americans has there been a full-length, nationwide study of African American cooperatives. Collective Courage extends that story into the twenty-first century. Many of the players are well known in the history of the African American experience: Du Bois, A. Philip Randolph and the Ladies' Auxiliary to the Brotherhood of Sleeping Car Porters, Nannie Helen Burroughs, Fannie Lou Hamer, Ella Jo Baker, George Schuyler and the Young Negroes’ Co-operative League, the Nation of Islam, and the Black Panther Party. Adding the cooperative movement to Black history results in a retelling of the African American experience, with an increased understanding of African American collective economic agency and grassroots economic organizing. To tell the story, Gordon Nembhard uses a variety of newspapers, period magazines, and journals; co-ops’ articles of incorporation, minutes from annual meetings, newsletters, budgets, and income statements; and scholarly books, memoirs, and biographies. These sources reveal the achievements and challenges of Black co-ops, collective economic action, and social entrepreneurship. Gordon Nembhard finds that African Americans, as well as other people of color and low-income people, have benefitted greatly from cooperative ownership and democratic economic participation throughout the nation’s history.
After four centuries of bondage, the nineteenth century marked the long-awaited release of millions of black slaves. Subsequently, these former slaves attempted to reconstruct the basis of American democracy. W. E. B. Du Bois, one of the greatest intellectual leaders in United States history, evaluates the twenty years of fateful history that followed the Civil War, with special reference to the efforts and experiences of African Americans. Du Bois’s words best indicate the broader parameters of his work: "the attitude of any person toward this book will be distinctly influenced by his theories of the Negro race. If he believes that the Negro in America and in general is an average and ordinary human being, who under given environment develops like other human beings, then he will read this story and judge it by the facts adduced." The plight of the white working class throughout the world is directly traceable to American slavery, on which modern commerce and industry was founded, Du Bois argues. Moreover, the resulting color caste was adopted, forwarded, and approved by white labor, and resulted in the subordination of colored labor throughout the world. As a result, the majority of the world’s laborers became part of a system of industry that destroyed democracy and led to World War I and the Great Depression. This book tells that story.
“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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