Opening businesses that create jobs in the community help the group....
The Black-white wealth gap is widening — a racial equity stimulus can narrow it
- Thread starter Joe Money
- Start date
Opening businesses that create jobs in the community help the group....
Most small businesses fail....Black Businesses fail at an even higher rate than others. It sounds good in theory to employ other black people but n order to sustain they need the greater market which includes crackas. This is why capitalism isnt the answer.
Nixon started Black Capitalism lol...why you think that was?
elaborate please..
A Bad Check for Black America - Boston Review
Editor's Note: This essay is adapted from The Color of Money: Black Banks and the Racial Wealth Gap (Harvard University Press). By the time
bostonreview.net
The notion of “black capitalism” was another part of this strategy. During the campaign Nixon coopted Black Power’s rhetoric of economic self-determination to call for a segregated black economy. He used the language of free-market capitalism—a racially neutral and popular idea at the time—to embrace the idea of “black enterprise.” “People in the ghetto,” Nixon said, “have to have more than an equal chance. They should be given a dividend.” Black business and black banking, the theory went, would be the “key to black economic progress” because they would allow black communities to use their own money to create a “beneficial multiplier effect.”
This move allowed Nixon to neutralize black resistance—indeed, to enlist the full-throated support of many activists—while also furthering his coalition’s desire for a diminished social safety net. By discouraging welfare dependency in the name of “black enterprise,” he was able to undermine black demands for economic redress and reparations. “People who own their own homes,” he reasoned, “don’t burn their neighborhoods.” This same logic later justified his dismantling of Lyndon B. Johnson’s War on Poverty programs as well as his neglect of other antipoverty efforts, which were seen as costly and responsible for creating dependence on the state.
This strategy highlights Nixon’s mastery of the political sleight of hand. By promoting black capitalism, he was able to accomplish a great deal with very little: he gained business support, lost none of his political base, and spent virtually nothing. The promise of black capitalism was so loosely conceived, it curbed the demands of black separatists and appealed to white voters across the political spectrum. Indeed, in Nixon’s vision, the transformative power of black business would also lead to integration by “build[ing] bridges to human dignity across that gulf that separates black America from white America.”
So great were the political dividends of black capitalism—and at such little cost—that every subsequent administration through Barack Obama’s adopted its edicts and its racially neutral language of “community capitalism,” “enterprise zones,” and “niche banks.” Of all of the components of the southern strategy, black capitalism has perhaps enjoyed the longest life while garnering the least opposition.
But like most things that sound too good to be true, black capitalism has proven to be a mirage. Despite consistent bipartisan support and a seemingly robust infrastructure to support black capitalism, it does not work, either to reduce inequality or to increase prosperity. In fact, considerable evidence suggests that the promotion of black capitalism is far less effective at lifting the black community out of poverty than the conventional progressive New Deal economic programs that it has, by now, all but supplanted. And as far as bridge-building is concerned, the fine print was that that would be the sole responsibility of the black community. With a little federal aid, it placed the “black problem”—the problem of poverty—in the hands of black entrepreneurs to fix unilaterally.
Nixon created a slogan....black people had businesses even DURING pre-civil war America.
At what point in American history was the Black share of wealth at its highest? And what is it today?
I dont have a problem with black business...Its not the answer to closing the wealth gap. thats all
Of course not. Small businesses didn't create the wealth gap, so its not going to solve it.
We need to be worried less about the wealth gap and more focused on our development.
No. They generally take an interest in the Black economics and the racial wealth gap from one perspective or another. If I were discussing Asian issues, I’d include you.
but thats the problem...our development wasn't delayed because of us and it wont be revived by only us.
"if you didnt start a million dollar business with that 1400 stimmy you're destined to fail"
"theres white people too who arent rich, what about their needs"
I don't know, and honestly what does it matter? Our worth as people isn't measured by our wealth as a group.
Why don't we ever talk about the crime gap? Thats a bigger concern for me.
I’m a chink from concord like you’re not a Dockers wearing coon from Union City with a flat top and no fade
If not us then who? No one's coming to save us.
respectability-politics smh
We cant save us. We dont control policy...You make it sound like its us to blame and not policy
I'll do you one better.....why is Gamora?again wtf are you talking about.?
So....
Wanting higher wealth comparable to white people = good
Wanting lower crime comparable to white people = bad?
What does policy have to do with focusing on your education? Not committing crimes? These are personal choices.
You make it sound like we're just children with no agency.
Cmon @Supersav we are not children. We know right from wrong. We are doing things that are self-destructive. This has little to do with CACs. Today alone, I had to talk to two brothers about showing up to an interview smelling like weed. I spoke with a sister with three baby daddies and currently pregnant with a fourth. Another sister was telling me she's not applying for any job until her extra $300 expires. Today at my sons basketball practice, mothers showing up with f n bonnets on there heads. Geesh!!! All this in one day!!!
We are better than this!!!!
Who are you referencing? Im black I dont commit crimes...I need more information because it sounds like a generalization
I dont know who the WE are you are referencing here. I see examples of individuals that you have come in contact with and for some reason you are judging these people and applying it to all black people smh
Well, we can make reasonable generalizations based upon data and statistics if you want. Pick a category. Education, crime, out of wedlock childbirth, abortions, finances, home ownership, marriage, divorce, among others. All of which can be supported by data. All if which we can begin to fix ourselves.
Lastly, I say "we" because even as I recognize that I am now in a privileged position, these are still my people. I accept the failures along with the successes.
I want the credit if I'm losing or I'm winning
On my momma that's the realest shit
~Kendrick Lamar
All of those things you mentioned are policy based. Crime is a factor of unemployment and poverty. The crime rates aren't the same in middle or upper class black neighborhoods. So by your logic the people in these neighborhoods are "choosing" not to engage in the same behavior that plagues the impoverished neighborhoods? I can pull up data from any poor neighborhood and you will see high crime. Black, asian,white whatever.
Out of wedlock child birth? Come on now. Your applying eurocentric social norms to us? Who cares if people are married or not when they have children?
Did tell how we can fix poverty and unemployment ourselves. So black wealth has been stagnant for over 100 years and you think it's because black people just don't want to be wealthy?
What I have tried to get my people to understand is we have the power to change everything. Black Americans have $1.5 Trillion in buying power plus another $700 billion in buying power from Black people who speak Spanish and dont know they are Black not Latino and another $150 billion from mixed race Black people who claim mixed race. That is almost $2.4 trillion.Whites are at about $13 trillion so we are 1/6th of their wealth and 1/4 of population at least(that 50 million Blacks is a lie its between 80-100 million). We have the economic power to change the structure of Black America but we are too silly with our money. How many billions of dollars go to these churches,how much do we spend on worthless shit instead of buying property instead of cars and other shit. They owe us Trillions in reparations but we have created unreal wealth in less than 100 years to change this shit ourselves.
There is a correlation but no causation. People can make decisions. The 13 and 15 year old girls decided to car jack the Uber eats driver. Just a dumb ass decision.
We all should care deeply because in all analysis, children do better in a two parent household. This is not debatable.
No they are not.
- Education - go to school and try. Do better, go to college or trade school
- crime - stop doing stupid ish. Selling drugs, robbing, etc are not the only options. Those are easy options and cop outs.
- out of wedlock childbirth - we have stop shaming this practice. It's normalized and celebrated even though our children suffer greatly because of this.
- abortions - The black population has remained stagnant for decades because we kill nearly as many babies as we birth.
- finances - prioritizing isn't a policy issue, it's a responsibility issue.
- home ownership - freakin stop renting all the time!!! Get a small $50K house and go from there. Wealth and homeownership are directly related.
- marriage - our black women have prioritized education and career over husbands. The only group that us proud to say our men ain't shit, I don't need no man. No other race does this.
- divorce - black women file 80% of all divorces. We need to teach our sisters how to be agreeable and how to be wives again.
I purposely did not mention this. So, this is not an argument. But, we do have the power to fix it somewhat, beginning with home ownership and education.
So there is no relationship between crime and poverty? Do you really want to go there?
So you’re concerned with destructive “ghetto” behavior. I get that. But it’s not as if this behavior comes out of a vacuum. It damn sure isn’t limited to Black people either. And it’s also not as if self-correction of this behavior would end discrimination or put a dent in the racial wealth gap. These are systemic problems.
The myth that Black America has a $1.3 trillion dollar buying power is a capitalistic lie that blames Black people’s spending habits for the reason why they are poor. This lie originates from Nielsen, which is a white owned consumer survey company which studies how much money Black people spend.
First and foremost, there’s a huge difference between “buying power” and wealth. The term “buying power” is a capitalistic term that refers to how much a community spends on consumer goods. Wealth on the other hand is ownership that is passed down from generation to generation. In addition, the term “power” implies that you have some form of control or ownership over the means of production. Which is false, as we do not control or own capitalism, white elites do.
This idea that we can buy our way to freedom with Black buying power (Black capitalism) is false. We cannot use an economic system that positions Black people as slaves to free us. Black capitalism requires a class group to be slaves just like white capitalism.
Ive linked the book if you want to delve further
Security check | SpringerLink
The myth that Black America has a $1.3 trillion dollar buying power is a capitalistic lie that blames Black people’s spending habits for the reason why they are poor. This lie originates from Nielsen, which is a white owned consumer survey company which studies how much money Black people spend.
First and foremost, there’s a huge difference between “buying power” and wealth. The term “buying power” is a capitalistic term that refers to how much a community spends on consumer goods. Wealth on the other hand is ownership that is passed down from generation to generation. In addition, the term “power” implies that you have some form of control or ownership over the means of production. Which is false, as we do not control or own capitalism, white elites do.
This idea that we can buy our way to freedom with Black buying power (Black capitalism) is false. We cannot use an economic system that positions Black people as slaves to free us. Black capitalism requires a class group to be slaves just like white capitalism.
Ive linked the book if you want to delve further
Security check | SpringerLink
link.springer.com
What’s ironic is that a lot people who talk about what Black people “need to do” won’t bother to actually read this or generally educate themselves about the realities of Black income and wealth in America.
much easier to blame people...people are in ya face....policy is in the back
The myth that Black America has a $1.3 trillion dollar buying power is a capitalistic lie that blames Black people’s spending habits for the reason why they are poor. This lie originates from Nielsen, which is a white owned consumer survey company which studies how much money Black people spend.
First and foremost, there’s a huge difference between “buying power” and wealth. The term “buying power” is a capitalistic term that refers to how much a community spends on consumer goods. Wealth on the other hand is ownership that is passed down from generation to generation. In addition, the term “power” implies that you have some form of control or ownership over the means of production. Which is false, as we do not control or own capitalism, white elites do.
This idea that we can buy our way to freedom with Black buying power (Black capitalism) is false. We cannot use an economic system that positions Black people as slaves to free us. Black capitalism requires a class group to be slaves just like white capitalism.
Ive linked the book if you want to delve further
Security check | SpringerLink
I will def check it out
Food is 1 of the most universal things that can generate money and bring people together.. we not talking unity here just generating money so food is 1 of the best products to use.. also cacs are the biggest consumers of buying food cause they can’t cook..so sell food at a higher price in their areas.. they are great word of mouths by telling all their friends how great the yams were and how they love the Mac and cheese.. whatever you would charge in a black neighborhood double or triple charge it in their area..they have no problems paying for it.. Mac and cheese piece 10 bucks
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