Sunday, November 18, 2018

The Myth Of Black Capitalism In America.

August 1, 2017 by  
Filed under Business, Money, News, Opinion, Weekly Columns

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( This negative myth that we have a $1.3 trillion dollar “buying power” is a white capitalistic lie that whites use to blame our community’s spending habits for the reason why we are poor.

First and foremost, there’s a major difference between “buying power” and wealth. The term “buying power” is a colonial capitalistic term that refers to how much a community spends on consumer goods. Wealth on the other hand is ownership that is passed down from generation to generation. In addition, the term “power” implies that you have some form of “control or ownership” over the means of production. Which is actually false because we do not control or own toxic parasitic capitalism, the colonial ruling class does.

Over the past few years, I’ve been seeing a lot of posts on social media pages and groups telling us to “Buy Black“. The problem with that slogan is that it perpetuates this myth called “black capitalism” and it’s very counterproductive to our struggle for true liberation.

Black Capitalism requires a certain class of people within our community (petty bourgeoisie) to be nothing more but economic slaves to the colonial capitalist system.

This idea that we can buy our way to freedom with black buying power (black capitalism) is very dangerous and counterproductive, nor does it truly benefit our community as a whole.

Just like colonial parasitic capitalism, black capitalism is just as oppressive and harmful and it only hurts us as collective.

We must reject this myth of black capitalism because black capitalism will never truly liberate us. You don’t fight capitalism with capitalism, you fight capitalism with socialism.

As a community, we do not and will never have true social, political, and economic power under this disgusting, corrosive, and destructive colonial parasitic capitalist system because under this parasitic capitalist system, the colonial ruling class would never even allow us to catch up to them by only consuming in our own community.

In the public school system, our kids are taught at an early age, to get a “diploma” and basically be nothing more but an economic slave for the colonial ruling class while at the same time, they never tell you how they heavily exploit you while being an economic slave to them.

Our spending habits are not the root of the problem. Our main problem is with capitalism, colonialism and imperialism because under the colonial parasitic capitalist system, we are positioned at a very early age by the school system in particular to be economic slaves for the colonial ruling class.

The colonial parasitic capitalist system in this country was built on the massive labor extraction and exploitation of black people in this country as well as the genocide of indigenous people. The wealth that the colonial ruling class currently have comes directly at the expense of enslaved blacks who built this country for the colonial ruling class. Black capitalism will never truly lead us to true liberation because it is just as parasitic and toxically destructive as white capitalism. Down with colonial parasitic capitalism and yes with socialism.

The Conclusion – We as a community must reject the “black capitalist” myth because true liberation doesn’t come from “buying” our way to freedom, but to overturn capitalism, colonialism and imperialism all together.

Staff Writer; Kwame Shakir (aka Joe D.)

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One Response to “The Myth Of Black Capitalism In America.”
  1. Great blog post.

    I only have a few points to make. You said that the the black capitalist myth must be rejected. I think your language usage is too strong. I think that considering it to be an important stage in the evolution of reaching levels of fairness and economic justice, it is a tool and signal that others more advanced stages are ready to be implemented. I think you mention that socialism is the actual solution. You should spend more time explaining that and citing academic sources.
    In my research I have found that civilization has two kinds or sides. Material and Divine. I feel that socialism is only one aspect of the divine civilization and that there are other parts to this that allow more people clarity and success as a collective entity and identity of Blackness.

    No matter how much money you have, a fool and his money will soon part ways so, the heart, the purpose, the selflessness, the unity and the health of the governing entity will ensure the health of the movement and the economic future of our people. The book of Malachi shares a lot of passages talking about this and the Bahá’í Faith shares some excellent resources on this reality.

    In solidarity,

    Tyree Byndom

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