The New York Times, March 31st, 2019: The real roots of ‘Black capitalism’
He argued that black rioters were wrong that white America exploited them and that it was erroneous to call the economic situation of the ghetto an “injustice.”
Instead, capitalism was the “natural” cure for the ghetto. Mr. Nixon should “help Negroes help themselves.” Agreeing to demands for federal spending or reparations in the ghetto was anti-capitalist.
That’s how Mr. Nixon gave us black capitalism. “Instead of government jobs and government housing and government welfare,” he said in a speech, “let government use its tax and credit policies,” to power “the greatest engine of progress ever developed in the history of man: American private enterprise.”
While a generation of white Americans had gained wealth through discriminatory government-sponsored credit subsidies for student and mortgage loans, Mr. Nixon pointed blacks to the free market and wished them luck.
