The campaign to future economic reciprocity among African American banks, businesses and communities sparks another debate – is it worth the effort. Do we have the power to build a Black economic power base? Some say yes, — others suggest not.
With increased protests in the streets and exploration of solutions for continuing police violence and persistent inequality has come renewed calls for the deployment of collective economic strength, particularly in the form of boycotts and reinvestment in Black banks. This has also brought about some renewed focus on the notion of “Black buying power.” In this edition of imixwhatilike! we spend a day in the life of explaining, discussing and debating what i call The Myth of Black Buying Power. The myth claims Black America has more than $1 trillion in annual spending power which confuses many about the nature of capitalism, economic inequality or the meaning of “power” itself. With the help of radio hosts Jennifer Bryant, Netfa Freeman, Garrett Harris (WPFW 89.3 FM) and Eugene Puryear (Sputnik Radio) – and even an on-air debate with B. Doyle Mitchell Jr., president and CEO,
View original post 9 more words