By Jocelyn Moss
As a female entrepreneur, I struggled with understanding why gaining support and earning trust for a small business is so hard. I began to try to understand the economics of black people throughout history and their contributions to the American dream or dollar. This required me to examine the interplay between historical injustices, structural inequalities, and contemporary economic outcomes. The Bible teaches how to address economic injustice, emphasizing fair treatment, generosity, and care for the marginalized. In the Bible, economic injustice is frequently condemned, with numerous passages advocating for fair wages, assistance for the poor, and denouncing exploitation. For instance, the Book of Proverbs 22:16 warns against oppressing the poor to enrich oneself, while Leviticus 19:13 emphasizes fair wages and treatment of workers.
Moreover, biblical figures like Jesus and the prophets spoke out against economic exploitation, highlighting the importance of compassion, charity, and equitable treatment. Jesus' teachings often focused on caring for the poor and marginalized, emphasizing the spiritual dangers of wealth accumulation at the expense of others.
Overall, the Bible provides a moral framework for addressing economic injustice, promoting fairness, compassion, and ethical conduct in economic dealings. What efforts were made to address these issues must involve policies and strategies aimed at dismantling systemic barriers, promoting economic inclusion, and fostering equitable economic opportunities for Black individuals and communities.
As I took a deeper dive into the contributions of Black American economists who have been addressing the historical injustices of “Black Economics,” I uncovered a few people who have taken the time to debate, research and advocate for change.
W.E.B. Du Bois: A pioneering sociologist, historian, and economist, Du Bois was one of the first scholars to study the economic conditions of African Americans. His seminal work, "The Philadelphia Negro" (1899), examined the social and economic disparities facing Black communities in Philadelphia.
Sadie Tanner Mossell Alexander: A trailblazing economist and lawyer, Alexander was the first African American woman to earn a Ph.D. in economics in the United States (University of Pennsylvania, 1921). She conducted research on issues such as unemployment, housing, and racial discrimination.
William Julius Wilson: A leading sociologist and economist, Wilson's research has focused on urban poverty, race, and inequality. His influential work, "The Truly Disadvantaged" (1987), examined the impact of economic restructuring and urban decline on African American communities.
Arthur Lewis: A Nobel Prize-winning economist, Lewis was the first Black person to receive the Nobel Memorial Prize in Economic Sciences (1979). His research on economic development, particularly the dual-sector model, has had a profound influence on development economics.
Thomas Sowell: An economist, social theorist, and prolific author, Sowell's work spans a wide range of topics, including race, culture, and public policy. His books, such as "Race and Economics" (1975) and "Wealth, Poverty, and Politics" (2015), have challenged conventional wisdom on issues related to race and economics.
Julianne Malveaux: An economist, author, and commentator, Malveaux has written extensively on issues of race, gender, and economic inequality. She served as the president of Bennett College and has been a vocal advocate for social and economic justice.
Darrick Hamilton: A leading scholar in stratification economics, Hamilton's research focuses on the causes and consequences of economic inequality. He has studied topics such as wealth disparities, social mobility, and the racial wealth gap.
Sandy Darity Jr.: A prominent economist and public intellectual, Darity's research examines the intersection of race, class, and economic inequality. He has written extensively on topics such as reparations for slavery, affirmative action, and the economics of discrimination.
During your drive today, I encourage you to take the time to listen to Thomas Sowell (Inequality) or Sandy Darity Jr. (The Blueprint for Reparations). These were game changers for me and I hope their messages cause you to change your view of how the “black dollar” circulates within our communities to create generational wealth.
