I) A social, cultural isolation placed upon a minority group. As a derogatory term is mostly used to indicate a neglected, poor and filthy neighborhood, usually crime infested, in a city.
II) The word “Ghetto” is an Italian word that derives from the Venetian (from Venezia) word “Ghèto” (pronounced “get-oh”) which in turn comes from the Italian word “Getto” (pronounced “Je`t-toh” literally translated “Thrown” or “Poured”) from the verb “Gettare”. The term “Ghèto” was used to indicate a small island near Venice which had a “foundry” (the act of pouring liquid metals into a container or form is called in Venetian dialect “Ghèto” still used today when you go to see the glass pouring techniques). Around the XIV-XV Century this island was given to the Jews, of Venezia and surrounding areas, to keep them separated from the aristocracy and general inhabitant of Venezia. In time they all moved and concentrated in this island, either they were money changers or commoners. The Island never took the name “Ghèto” but in time the word changed to “Ghetto” to differentiate the term from both “Getto” and “Ghèto” and to the Italians and surrounding nations the new term indicated where the Jews were “poured or thrown to” or in a nicer term, where they lived in; the word took international footing during WWII when Germans, long time occupiers of Venezia, familiar with this term, used it to indicate first where Jews or Gypsies lived and subsequently were they were kept or concentrated.
III) It also took a different meaning when associated with words such as “golden” (Ghetto Dorato) to indicate where rich and affluent people lived. Today it has still the same meaning indicating an area where people are isolated culturally and socially but it is mostly used in a derogatory way.
don't go there it is a ghetto full of tugs and prostitutes