I disagree, I believe it was racism, and racism alone that animated these policies.Capitalism is behind the profit motive that animated the government policy, though. Value is the bottom line here.
In fact i think... actually I know that discriminatory policies like this would be/and are implemented at a loss, just to keep minorities out.
The system(capitalism) IMO is irrelevant to these instances of govt. discrimination.
Moreover, I think conditions for blacks during that time would have been much worse under any of the other popular economic models. Imagine full govt. control in a climate like this. Black Wallstreet would have been impossible.