The Dollar Circulates in the Black Community less than 6 Hours!
Leading to a crises of Successful Black Owned Businesses.
In her book, “Talking Dollars and Making Sense: A Wealth Building Guide For African-Americans,” Brooke Stephens writes: “John Wray, an economic development specialist in Washington, D.C., did a study that traced the flow of dollars through comparative ethnic communities. Wray found that in the Asian community a dollar circulates among the community’s banks, brokers, shopkeepers, and business professionals for up to 28 days before it is spent with outsiders. In the Jewish community, the circulation period was 19 days; in the WASP community, 17 days; but in the African-American community - 6 hours!”
African Americans must learn that for Black Businesses to Be Strong and Competitive, We MUST keep our dollars within our own communities for a time period. Meaning we must Support Black Owned Businesses, instead of taking each paycheck and paying non-blacks for goods and services. Many non-black business owners, if you examine their workforce and hiring methods, either don't want to hire blacks or don't want to hire us in any significant numbers. Yet we rush to patronize their businesses while our own businesses could use our dollars.
White people absolutely hate when blacks bring up this topic because they know it's the truth. They know they are profiting from the collective financial ignorance of many uninformed African Americans who rush to establishments with our hard earned dollars and buy their goods when they won't hire us. What sense does that make? Take the time to visit a black owned store, eating establishment or venue and support them. African Americans will NEVER have wealth in this country lining up to work for others. If you haven't noticed, regardless of our qualifications they offer us crumbs and pass over us for promotions ensuring we will never reach a standard of living comparable to their own. It's time to support our own.
