The Myth of Black Capitalism

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Challenging the notion that capitalism can address the injustices faced by Black Americans, Earl Ofari Hutchinson conducts a thorough historical analysis of African American participation in commerce. He argues that the rise of a Black capitalist class has not alleviated systemic inequities, highlighting how initiatives like "Buy Black" often benefit a wealthy elite at the expense of the broader community. Hutchinson asserts that both the Black Power movement and traditional Black elites have perpetuated the myth of "Black capitalism," ultimately serving capitalist interests rather than advancing true equity for Black people.