This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

This history tells the relatively unknown story of how the Detroit automobile industry played a major role in the 1933 banking crisis and the subsequent New Deal reforms that drastically changed the financial industry. Spurred by failed decision making and conflicts of interest by automobile industry leaders, Detroit banks experienced a critical emergency, precipitating the federal closure of banks on March 4, 1933, the first in a series of actions by which the federal government acquired power over economics previously held by states and private industrial and financial interests.

The reasons behind Detroit’s persistent racialized poverty after World War II Once America's "arsenal of democracy," Detroit is now the symbol of the American urban crisis. In this reappraisal of America’s racial and economic inequalities, Thomas Sugrue asks why Detroit and other industrial cities have become the sites of persistent racialized poverty. He challenges the conventional wisdom that urban decline is the product of the social programs and racial fissures of the 1960s. Weaving together the history of workplaces, unions, civil rights groups, political organizations, and real estate agencies, Sugrue finds the roots of today’s urban poverty in a hidden history of racial violence, discrimination, and deindustrialization that reshaped the American urban landscape after World War II. This Princeton Classics edition includes a new preface by Sugrue, discussing the lasting impact of the postwar transformation on urban America and the chronic issues leading to Detroit’s bankruptcy.

Includes entries for maps and atlases.