Black dollars equal Black power: How to use group economics

Photo credit: Monkey Business Images / Shutterstock.com
Photo credit: Monkey Business Images / Shutterstock.com

Group economics may be the answer to the prayers of the black community. After watching Hidden Colors, I felt a deep urge to do something with my newfound knowledge. After all, knowledge is power. And after the recent election, it’s more important than ever for black people to exercise our buying power and spend responsibly. It’s time that we stop selling ourselves short and recognize that we are a financial force to be reckoned with!

Instead of complaining about our circumstances or blaming the forces that be, with have to take ownership of our communities and create a strategy for success.


It’s been noted time and time again that we have $1.2 trillion buying power, but we aren’t using it properly. In fact, we are the only culture of people who do not practice group economics. This means we aren’t able to benefit from our own power … until now.

First things first, let’s define group economics as one group of people who agree to actively and consciously pursue a common economic interest to sustain and secure themselves. We can take a look at the Jewish, Asian and Italian communities who have been practicing this principle for ages. Now, it’s our turn.


So, how can you make a difference in your community by practicing group economics? Here are a few ways to use group economics:

– Start a business.

– Support a Black-owned business.

– Hire Black workers.

– Open an account at a Black bank.

– Attend community events.

– Create a community garden.

– Start Black schools.

– Create trust funds for your children.

– Join a community investment group.

– Improve your understanding of finance and economics.

It’s time to stop making excuses and start making changes in our community. If Donald Trump’s election taught us anything, it should be that we can’t depend on anyone else to solve our problems. We cannot expect politicians to invest in our communities if we haven’t done our part.

The holiday season is the perfect time to put these group economics principles in place. Instead of buying from major retailers, get out into your local community and support the small businesses there.

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