Show Notes
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#municipalbondfinance #racializedcreditratings #postwarSanFrancisco #publicdebtandinfrastructure #racialcapitalismandurbaninequality #TheBondsofInequality
The Bonds of Inequality: Debt and the Making of the American City by Destin Jenkins is a work of urban history and political economy that examines how municipal debt helped shape postwar American cities, especially San Francisco. Rather than treating city growth as a neutral story of infrastructure and planning, Jenkins shows how municipal bonds tied public services to financial markets and how that arrangement reinforced racial and economic hierarchy. The book traces the rise of technocratic decision making, the influence of bankers and rating institutions, and the way cities increasingly depended on borrowing to fund basic responsibilities without provoking political resistance from taxpaying elites. By following these processes through the language of finance as well as the lived consequences of urban policy, Jenkins reveals how debt became a mechanism of power. The book is both a historical study and a critique of the financial structures that continue to shape unequal urban life.