Category Archives: Money & Finance

Blackonomics…What do Blacks control economically?

The Vietnamese control the nail industry; the Koreans control the major distribution channel for Black hair care products; Jewish people control the music industry; the Indians/Pakistanis control a major portion of the hotel/motel industry; and the Chinese control economic enclaves, as do Greeks, Italians, Mexicans, Cubans, Polish, and Irish people. What do Blacks control? That… Read More »

Growing the Black Economy by Moving to the Middle

One positive that emerged from the 2007–2008 credit crisis—and its subsequent recession—was a spark in entrepreneurship. Nearly one of every 10 U.S. companies operating today was launched within the past five years, according to a September 2016 U.S. Census report. To narrow it even further, approximately 13 percent of today’s Black-owned businesses were also started… Read More »

Black People Are Not All ‘Living in Hell’

Contrary to Donald Trump’s indiscriminate portrayal of African-Americans as “living in hell,” the black upper middle class is ascending the economic ladder at a faster rate than its white counterpart. Scholars have begun to focus their attention on this phenomenon. William Julius Wilson, a sociologist at Harvard and the author of “The Truly Disadvantaged,” is… Read More »

How African-Americans Can Break the Cycle of Inherited Poverty

I became heir to my parent’s financial mismanagement and generational debt. By the time I was conceived, my father and mother had not only transformed molehills of bills into mountains of unpaid accounts, but had managed to pass the same distasteful money management habits to their younger generations. Tragically, like a number of African-American families,… Read More »