Black Economics

blk-wallst

Where do we go from here as African Americans and many other blacks around the world in terms of economic growth? I believe that Malcolm X along with Dr. Claude Anderson shared the answers with us during those videos. Malcolm X started with an interesting statement that he said “that over 400 years the black man in America has been like a boy in the white mans house. Begging for items such as food, clothing, and shelter then after the white man proves these things the black man has the nerve to be angry when the white man tries to control him. The only way to change this kind of thinking is to reeducate the minds of African Americans and other black around the world. In the photo above shows Black Wall Street, during this time a lot of global business was conducted. The community flourished from the early 1900s until June 1, 1921. That’s when the largest massacre of nonmilitary Americans in the history of this country took place, and it was led by the Ku Klux Klan destroying Black Wall Street. As you can see blacks had the knowledge to create and conduct business however, times have change and this new generation only wants to spend. Studies have shown that blacks spend about 30 billion a year.

  • 3.3 billion per year on tobacco.
  • 3 billion a year on alcohol.
  • 29.3 billion on clothes.
  • 19 billion on cell phone service with 54% using smart phones.
  • 9 billion on hair care.

With all of this money being spend you would think that blacks are the ones owing the businesses however, that is not the reality today.

  • 1 out of every 10 Asian.
  • 1 out of every 35 Whites.
  • 1 out of every 54 Hispanics.
  • 1 out of every 104 blacks.

We as black people do have the resources as you can see to invest and built, but for some reason weren’t. I believe that reason is deep down in most blacks they still have a slave mentality wanting and depending on another man to provide insisted of wanting to create the opportunity. Also for the  lack of knowledge and pride as black people have the less business but were the ones spending all the money on things that don’t matter it simply shows the mindset of each racist. I could remembering  growing up in the hood I always notice how the Asians, Whites, Hispanics, and every other racist besides the black racist would work together and help each other succeed. For some reason most black people hate to see another black person make it so before they do make it they’ll tear down that person, but praise and help willingly another racist to make it their dreams and goals come through. We as black people have to start pulling together and uplifting one another investing in business like every other racist does if they can do it so can we and that’s all it is to do.

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