Economic Power Is the Solution to Racism

Reginald Blount

By Reginald K. Blount – Protest in major US cities continue across the nation against racial injustices. The accusations of systematic racism built into the American system of government appears to keep Black Americans in a constant state of protest and anger with no concrete solutions from national Black leaders.

Racism is not a single invisible figure concealed in dark cigar smoke filled rooms with old white men conspiring specifically against Black people. Racism is a horrible condition of the heart by individuals who did use established government and private systems to divide, dominate and increase economic gain by eliminating opportunities for Blacks, Native Americans, and other minority groups. Generations of ethnic groups, but especially Black Americans suffered under this system. But racial bias is not limited to white Americans only.  All ethnic groups have displayed forms of racial bias against their own. Black people have historically based favoritism within their communities based on the shades of melanin in their skin, with lighter skin being preferred over the darker hue.

Today, Black Americans are the most prosperous people of color in the world. There are seven self-made Black billionaires, and 8% of all millionaires in America are Black. Economic wealth is one factor that overshadows racists ideology. When you have strong financial success collectively as a group, who cares about what someone thinks of you or your color. You can control the atmosphere and become the lender instead of the borrower. Sadly, Black leaders nationally have not capitalized on initiatives designed to help Black communities simply because of politics and self-interest.

During the Trump Administration, the Platinum Plan pledged $500 billion in access to capital with the intent to also create tree million new jobs, and bridge historic disparities in health care and education. Some of the promises listed, include school choice, criminal justice reform and favorable trade deals for Black farmers and manufacturers. The plan also states that Trump pledged to make Juneteenth a federal holiday if reelected in 2020. Rapper Actor Ice Cube, one of the main architects of the plan was scolded by leaders in the Black community for attempting to work with the Trump administration. Instead of Black leaders aggressively engaging these initiatives, they choose to ignore the idea because of their disdain for Trump. The Biden administration stated that they would look at this initiative once elected in Office. To date, nothing has become of the Platinum Plan. However, his Administration says they have earmarked billions for Black business in their infrastructure plan that has not yet moved to the Senate.

Millions worldwide, both legal and illegal flood into this country because they know that America at least provides the freedom and possibility to succeed no matter the racial climate. Individually Black Americans have done well in government and industry, but collectively, Black Americans fall behind other ethnic groups. Black leaders must focus on helping to increase the economic strength in Black communities. When you have the power of wealth and self-sufficiency, you have more leverage to control the environment. Racism does not go away, but it does become submissive to your power and control, not the other way around.

Reginald K. Blount is a retired US Army veteran, Adjunct Instructor, Group home Building Consultant, and serves in various community-based volunteer organizations.


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