Econ Nerd Book Review: The New Jim Crow, by Michelle Alexander

It’s no secret that I’m interested in economic injustice. That’s why I wax grumpy and bitter about things like gentrification, fast fashion, clean water, and environmentalism. But I have a lot to learn about the kind of systemic inequality that keeps some people down while others float above.

Which is why I read The New Jim Crow: Mass Incarceration in the Age of Colorblindness by Michelle Alexander.

Alexander’s premise is simple on its surface: since its inception, the War on Drugs has targeted black and brown people at disproportionately high rates. This has led to a new racial caste system in the United States.

But of course, like anything to do with race in America, it’s far from simple. And Alexander seems to realize how far-fetched some might consider her findings because she spends, like, 20% of every chapter going “I know this sounds crazy but seriously, stick with me. Just look at this data.”

While I wasn’t completely ignorant of the racism inherent in our justice system before reading The New Jim Crow I am now completely overwhelmed with new and damning knowledge. The rules of this new and insidious Jim Crow state affect people socially and economically in disastrous, life-ruining ways, through every stage of the justice process from arrest through trial, punishment, and release.

Here’s some of what I learned.

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I don't know why I've never thought about the Theory of Compounding Interest in this way before, but it's genius.

I Read a Book About Warren Buffett. Here’s What I Learned.

So I read The Snowball by Alice Schroeder. It’s an absurdly long, absurdly detailed book about one of the most famously wealthy people in the world: Warren Buffett. Notorious for his frugal ways and uncanny ability to predict the future of the stock market (no seriously), Buffett’s name has become synonymous with financial success. Which is why I read the book.

I wanted to see if the Wizard of Omaha (I know—not nearly as sexy as the Wolf of Wall Street) had anything to teach me about making lots of money.

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Go to the goddamn library, you fool.

The Library Is a Magical Place and You Should Fucking Go There

Back when I lived in a hippie commune with approximately nine humans and 37 dogs, I would bike to the library on a regular basis to keep myself in reading material without spending all of my meager paycheck on books. As I was leaving one day, I asked one of my roommates if she wanted me to pick up anything at the library for her. Her response: “Is it free?”

Is it free? Is it free?

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