Matthew Desmond

"During slavery, "Americans built a culture of speculation unique in its abandon," writes the historian Joshua Rothman...That culture would drive cotton production up to the Civil War, and it has been a defining characteristic of American capitalism ever since. It is the culture of acquiring wealth without work, growing at all costs and abusing the powerless. It is the culture that brought us the , the and the . It is the culture that has produced and undignified working conditions. If today America promotes a particular kind of low-road capitalism — a capitalism of poverty wages, and ; a winner-take-all capitalism of stunning disparities not only permitting but awarding financial rule-bending; a racist capitalism that ignores the fact that slavery didn’t just deny black freedom but built white fortunes, originating the black-white wealth gap that annually grows wider — one reason is that American capitalism was founded on the lowest road there is."

"Those who have amassed the most power and capital bear the most responsibility for America's vast poverty: political elites, who have utterly failed low-income Americans over the past century; corporate bosses who have spent and schemed to prioritize profits over people; lobbyists blocking the will of the American people with their self-serving interests; property owners who have exiled the poor from entire cities and fueled the affordable housing crisis."