Banking Inequities

9 related terms

"Black tax": "...bigotry and implicit bias impose a "Black tax" on residents of Black-majority neighborhoods that White neighborhoods simply don't have to pay" (57).; Example: Perry, A., & JSTOR. (2020). Know your price : Valuing black lives and property in America's black cities. Washington, D.C.: Brookings Institution Press.
"the deficit perspective": "This downward, nihilistic gaze is what educators call "the deficit perspective" - the conscious or unconscious belief that members of a disenfranchised cultural group don't have the skills to achieve because of their cultural background, or, in plain terms, they're not White or middle-class enough" (38).; Example: Perry, A., & JSTOR. (2020). Know your price : Valuing black lives and property in America's black cities. Washington, D.C.: Brookings Institution Press.
accelerators: "Not to be confused with incubators - are businesses that provide intensive technical assistance (most often not offered in college) and access to practitioner-mentors in the field to selected entrepreneurs" (32).; Example: Perry, A., & JSTOR. (2020). Know your price : Valuing black lives and property in America's black cities. Washington, D.C.: Brookings Institution Press.
clustering: noun; Clustering is another term loosely used in economic development circles. My colleagues at the Brookings Institute define industry clusters as "groups of firms that gain a competitive advantage through local proximity and interdependence... [Clustering] offers a compelling framework for local and state leaders to analyze and support their economies." Black economists and business owners recognize that clustering is mostly a euphemism for some form of exclusion when it comes to economic development. Who's included in a business cluster almost always reflects the racial dynamics of a place. The competitive advantages that are gained com eat the expense of the quality of life among those who are not included. If deconstructing racism isn't a primary goal of a cluster, then you're more than likely going to increase inequality" (35).; Example: Perry, A., & JSTOR. (2020). Know your price : Valuing black lives and property in America's black cities. Washington, D.C.: Brookings Institution Press.
community development financial institutions (CDFI): noun; The Community Development Financial Institutions Fund (CDFI Fund) plays an important role in generating economic growth and opportunity in some of our nation's most distressed communities. By offering tailored resources and innovative programs that invest federal dollars alongside private sector capital, the CDFI Fund serves mission-driven financial institutions that take a market-based approach to supporting economically disadvantaged communities. These mission-driven organizations are encouraged to apply for CDFI Certification and participate in CDFI Fund programs that inject new sources of capital into neighborhoods that lack access to financing. https://www.cdfifund.gov/
devaluation: noun; the reduction or underestimation of the worth or importance of something. "the general devaluation of expertise in our culture"
incubators: "Traditional business incubators strive to do just as their name suggests - they incubate or help develop businesses so they can eventually leave the nest to fly on their own. Incubators provide a physical office space and offer business services such as printing and internet, conference rooms, and even management training to those who apply and/or pay rent" (31).; Example: Perry, A., & JSTOR. (2020). Know your price : Valuing black lives and property in America's black cities. Washington, D.C.: Brookings Institution Press.
placemaking: As both an overarching idea and a hands-on approach for improving a neighborhood, city, or region, placemaking inspires people to collectively reimagine and reinvent public spaces as the heart of every community. Strengthening the connection between people and the places they share, placemaking refers to a collaborative process by which we can shape our public realm in order to maximize shared value. More than just promoting better urban design, placemaking facilitates creative patterns of use, paying particular attention to the physical, cultural, and social identities that define a place and support its ongoing evolution. https://www.pps.org/article/what-is-placemaking
social infrastructure: noun; The physical places and organizations that shape the way people interact. "Not social capital."; Example: Klinenberg, E., & ProQuest. (2018). Palaces for the people : How social infrastructure can help fight inequality, polarization, and the decline of civic life. New York: Crown.