Calibrating the Financial System
Calibrating the Financial System
This chapter explores how the financial system was created and developed to recognize whiteness as a first credential of banking. Based on the theory of racial capitalism, this chapter reviews the origins of modern-day banks, redlining, and credit scoring to explain how the financial system confers advantages to whites. The financial system’s calibrations to whiteness have made it unable to render equal access to financial products and services. Whites have disproportionately higher bank account ownership rates, savings amounts, and accumulated wealth compared to their Black and Brown counterparts. Reports that decontextualize these differences from racial capitalism ignore the racist policies and practices responsible for these present-day renderings.
Keywords: racial capitalism, redlining, credit score, racial wealth gap, financial inclusion
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .
