Black Economic Reality

Almost 2 Trillion dollars ($2,000,000,000,000.00) is the amount that represents the annual collective spending power of Black people in America. Throughout our Black history this money has had limited circulation within the Black community. Almost all of this money is spent outside the Black community. Much of this money ends up in the hands and bank accounts of people and institutions that show no respect for Black people. A lot of these people and their institutions are racist. Think about this next time you buy something.

By establishing a new manner of thinking for Black people, one that takes in consideration these economic facts that focus on the ways and means to use this colossal, collective economic strength, we can have an impact on our destiny. Money is power. The likes of Black historical figures such as Marcus Garvey, Rev. Leon Sullivan, A.G. Gaston, and the powerhouse thinker, Sadie T. M. Alexander (the first African American woman to earn a PhD in economics in the United States in 1921), they and others all knew what the power of collective economics meant for Black people. We’ve yet to put it to work have we? As we continue to be attacked as we are today, all the more reason to strategize on how to direct our collective wealth. 

Take the Black church for instance. It is estimated that black churches across the US collect $9,000,000 ($9million) every Sunday just between 9:00 AM to 11:00 am.

On average U.S.Black churches raise from parishioners an estimated $11.5 billion annually (Candace, 2017). 

Over the last fifty years Black church goers have given, and Black churches have taken in over $550 billion in revenue. By far Black churches are the single largest source of revenue generation for the “Black Community.” 

This is a revealing and startling reality considering and according to reports, that an estimated 50% of their congregations are living from pay check to pay check and most churches aren’t “rich”, Still the numbers are impressive and can have impact when focused.

 
Attaining individual wealth is admirable and can you imagine how we will fare and feel once we and our “leaders” devise the manner to harness and direct our collective wealth inwards and towards building our Black Future? We can talk about all the stuff happening in the news if we want to but…THIS IS WORTH TALKING ABOUT! What do you think?

Commentary by Ron Washington, native Chicagoan living  in Las Vegas, disabled Marine Corps combat veteran, business owner (Premiers Secours), and proud NU grad. Son of Bernadine C. Washington, former WVON GM, who inspired his love for writing.