Browse Tag

economic development

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Is Black Buying Power a Myth or Reality?

Dr. Jared A. Ball is a father and husband. After that, he is a Professor of Communication Studies at Morgan State University in Baltimore, MD.

In his book, The Myth and Propaganda of Black Buying Power, Dr.Ball proposes amongst other things that Black America does not have an annual $1+ trillion that is somehow being spent frivolously rather than harnessed to the betterment of the Black community.

The book also proposes that “buying power,” as a concept is “entirely misunderstood and has been for so long that it continues to confound and inhibit conversations about the Black economic condition and what might be done about it.”

black buying power

In this interview, we discuss:

1) The origin of the term and concept of “buying power”.

2) The definition of actual economic strength and how it is created.

3) Which comes first, economic power or political power.

4) Ideas on how the Black community can gain political power.

and more.

Tony O. Lawson


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Meet the man in charge of over $100M recently donated to Black-Owned Businesses and HBCU’s.

The Local Initiatives Support Corporation (LISC) is a non-profit financial institution that provides capital to projects in low-income, disadvantaged, and underserved communities at affordable rates.

LISC supports community development initiatives in 35 cities and across 2,100 rural counties in 44 states. In 2018, they reported grants, loans, and investments totaling US$1.5 billion, leveraging $4.4 billion in total development and supporting over 700 partners across America.

They recently received $60 million from Lowe’s, $40 million from MacKenzie Scott (ex-wife of Jezz Bezos), and $25 million from Netflix.

We caught up with their CEO, Maurice Jones, to discuss what his organization does and what they plan to do with these funds.

 

 

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Tony O. Lawson


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