John Robinson III’s contribution to the “Race & Capitalism” series provides a historical perspective on what he calls American capitalism’s “selective democratization,” especially with regards to race. The myth of a self-regulating market, argues Robinson, obscures the political underpinnings of economic inclusion, which has consistently favored the “self-reliance” of white workers while excluding blacks. He draws on W. E. B. Du Bois’s analysis of the post–Civil War Freedmen’s Bureau and attempts to democratize housing assets in the 1970s through the Community Reinvestment Act as examples of policy efforts to increase inclusion that have been thwarted by racial politics.