116: America’s Legalized Corruption with Legal Scholar Mehrsa Baradaran

Celebrated author of the award-winning book, The Color of Money: Black Banks and the Racial Wealth Gap, Mehrsa Baradaran states that when the Emancipation Proclamation was signed in 1863, Blacks had 0.5% of the nation’s wealth. This statistic makes sense, since Blacks weren’t allowed to own capital as enslaved people — their bodies were, indeed, the capital used to develop lending in this country. Fast-forward more than 160 years to today, Black households currently have a total wealth of just over 4% - not much growth, especially when U consider that one-in-four Black households overall have no wealth or in debt, compared to about one-in-ten U.S. households.    What if our nation’s financial systems were rigged — not by evil puppet masters or villains — but by law-abiding judges, lawyers, policy makers and lobbyists? In Baradaran’s latest book, The Quiet Coup: Neoliberalism and The Looting of America, the acclaimed professor of law at the University of California, Irvine argues that our political and economic systems of government have shifted in recent decades to yield more complex laws and regulations designed to benefit the rich and powerful—while at the same time, proclaiming smaller government and less regulation. The result has been a large section of Americans left poor and disenfranchised. Join us as I SEE U host Eddie Robinson chats with one of our country’s leading intellectuals and legal scholars, Mehrsa Baradaran. We examine how the Civil Rights movement and the push for economic justice by Black activists led to a so-called neoliberal movement. Baradaran explores this ideology of neoliberalism and explains how it infected our politics to ensure and maintain a dominant system of economic power over democracy – a movement she says is far from over, and even accelerating.