This dissertation analyzes the production of racialized inequality in New York City and the emergence of equitable neoliberalism and economic democracy as two divergent politics seeking to create a more equitable future of urban development without displacement. Racialized inequality in New York City is produced by ongoing legacies of (dis)investment and relations of ownership, rent, and labor that articulate race and capitalism. In response to persistent inequality, the City government in 2015 began developing equitable neoliberalism as a new paradigm of urban governance that attempts to reduce racial inequality by refashioning neoliberal politics using ideas of equity. The City envisions an equitable future as one where mixed-use/mixed-income developments with affordability set-asides ameliorate rent burden and create new amenities in low-income neighborhoods while job training programs provide people skills they need to succeed in competitive labor markets. Led by the Bronx Cooperative Development Initiative, community organizers in the Bronx since 2017 have worked to build a Bronxwide coalition around ideas of community-led planning, racial equity, and economic democracy as an alternative model of urban development. The Bronxwide coalition puts forward a vision of an economic future for the Bronx in which equity is realized through shared ownership and democratic governance of businesses by workers, housing by residents, and land by communities. This dissertation argues that equitable neoliberalism and economic democracy are two of the key ongoing political movements struggling to shape the future of New York City and the Bronx.