"What is Economic Enslavement and does it really exist?" You decide! 

For those new to the blog, please read my other posts by searching under 'buy black'.  Thanks for all your support.

This is an ongoing series I'm developing to begin dialogue and education around a topic that is rarely discussed except to encourage consumers to support black products and business.

Today we will discuss economic enslavement and the goals and aspirations of 'Buy Black'.

 First I should state that I support Black owned businesses and that one of my mentors is a Black nationalist with an incense manufacturing company over 20 years old.  So, I feel strongly that we must support our businesses.

What is the goal of 'Buy Black'?

The truth of the matter is that this concept has been more assumed than ever explained or clarified to Black people. I find this odd since it has been the MAJOR economic concept promoted to solve our economic deficiencies.

The assumption of 'Buy Black' is that it is a strategy that if employed properly will allow us to achieve financial independence (FI). FI would allow our institutions to have the capitol to finance business development that would create jobs and build communities to meet our needs.

What is Economic Enslavement?

My definition is that when you work freely (not slave labor) and earn money that you have the ability to make that money work for you (your community) by having it to multiply.  The amount of time your dollar turnovers (stays within your community) creates this multiplier effect. In essence, your dollar becomes worth more because it is being shared amongst several businesses within your community before it is spent outside your community.

So, all of the following help create a condition of economic enslavement.

1. When you don't understand the importance of spending your dollars with your own race

2. When you do understand the importance of how you spend dollars but there are very few products or services readily available without you going consistently out of your way.

  3. When you do support your businesses but it still has very little impact on the multiplier effect.

 Enclave

During the period of the late 1800's and prior to civil rights, we had a natural enclave effect as a result of segregation and Jim Crow in the south.  Businesses formed because they had a 'captive audience'. In this scenario, 'buy black' was simply understood because there was nobody else to buy from.

To understand the limitations of just 'buying black' ask yourself these basic questions.

1. How many jobs were created by the enclave?

2. How many black owned products were produced or manufactured or available for purchase?

3. Was there a multiplier effect on our dollars?

McDonald's

McDonald's is the most successful fast food franchise and there are countless in our community and everywhere else for that matter. Some of these are black owned and operated.

Here are the questions for consideration.

1. If you have a black owned franchise in your community and every time you eat out you spend your dollars at this McDonald's what impact will that have?

2. Is it worthwhile for you to drive past 3 McDonald's to locate the black owned and operated McDonald's to support it?

In terms of 'buy black' the answer is a resounding yes in both scenarios!

In terms of solving economic enslavement the answer is a resounding NO in both scenarios.

 The reason is simple and begins to expose the direction we must begin to focus on to begin to seek financial independence as a community.

 Supporting a Mc Donald’s franchise makes 3 people rich!

1. The McDonalds Corporation- Global Community

2. McDonald's suppliers (food products, equipment, supplies, etc.) - Global economy

3. The owner of the McDonald's who hopefully will give back to the community.

Now, I ask where are the jobs created outside of that McDonald's? Where is the multiplier effect because the money leaves the community immediately? Where is the capitol created to build more businesses?

 McDonalds and the Enclave

My point here is that the McDonald's simply had a black face on it. While significant and an achievement for that individual, it doesn't do much to address our economic enslavement. Therefore, putting more businesses with black face inside of an enclave still doesn't create the multiplier effect. It essentially creates an upper class of blacks and their families!!

Having succesful business leaders does have a positive impact on the black community by creating role models, money for worthwhile programs, etc., but it will not end our economic enslavement.

Rich Mind

For those new to the blog, please read my other posts by searching under 'buy black'.  All comments welcome and appreciated. Let's learn and grow together.