Quote by Jesse Jackson
Urban America has been redlined. Government has not offered tax incentives for investment, as it has in a dozen foreign markets. Banks have redlined it. Industries have moved out, they've redlined it. Clearly, to break up the redlining process, there must be incentives to green-line with hedges against risk.
Summary
This quote highlights the phenomenon of redlining in urban America, a discriminatory practice where neighborhoods with predominantly minority populations are systematically denied access to investment, loans, and other resources. The quote suggests that the government, banks, and industries have played a role in perpetuating this inequality. To reverse this process, the quote advocates for the implementation of greenlining, which entails offering tax incentives for investment in these neglected areas, along with measures to mitigate risks associated with such investments. The concept of greenlining is seen as a necessary step to break the cycle of redlining and foster equitable development in urban America.
Topics
Finance
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