Money and the Ghetto, Money in the Ghetto

Abstract

This essay revisits Making the Second Ghetto to consider what Arnold Hirsch argued about the relationship between race, money, and the ghetto. It explores how Hirsch’s analysis of this relationship was at once consistent with those penned by other urban historians and distinct from those interested in the political economy of the ghetto. Although moneymaking was hardly the main focus, Hirsch’s engagement with “Vampire” rental agencies and panic peddlers laid the groundwork for an analysis that treats the post–World War II metropolis as a crucial node in the history of racial capitalism. Finally, this essay offers a way to connect local forms of violence to the kinds of constraints imposed by financiers far removed from the city itself.