Connect with us

#NNPA BlackPress

Closing the Wealth Gap in Black America Through Investments in Innovation

Black America’s wealth gap can be closed by more individuals actively participating in new economies. The old economy relies on manipulation and debt to reshuffle wealth, while the new economy creates wealth where it previously did not exist.
The post Closing the Wealth Gap in Black America Through Investments in Innovation first appeared on BlackPressUSA.

Published

on

By Phillip Washington | Dallas Weekly Magazine

In today’s discussion, we delve into the pressing issue of closing the wealth gap in Black America. Wealth in business and investing exists at the intersection of faith in the future and individual passions. It is important to distinguish between the collective and individual mindsets when addressing topics such as race, sex, or other classification. While the collective mindset shapes the beliefs and mindset of a particular group, the individual mindset empowers each person to claim their power and intelligence. In this article, we are discussing the collective mindset.

Belief Systems and the Evolution of Wealth

Each generation brings forth new ideas that shape the economy and solve the problems of the previous generation. This perpetual cycle of question and answer drives progress and innovation. For example, as we strive for faster and more efficient communication, we witness the evolution from telephones to email, text messages, instant messaging, and social media platforms. With each new idea comes a new form of wealth.

The wealthiest individuals in society are often entrepreneurs who bring innovative business ideas to life, along with the investors who provide the necessary capital. The combination of entrepreneurship and investment is a powerful force in wealth creation. However, it is important to recognize the coexistence of the old and new economies. The old economy relies on manipulation and debt to reshuffle wealth, while the new economy creates wealth that previously did not exist.

The old economy’s reliance on debt and manipulation perpetuates a scarcity mindset. When too many individuals engage in this game, it becomes a competition for a limited pie, leading to conflicts and wars. On the other hand, the new economy operates in a realm of abundance. Industries such as bitcoin, space, AI, Airbnb hosting, podcasting, gaming, and influencer marketing offer boundless opportunities for wealth creation.

In these new economies, barriers to entry are minimal, and individuals are primarily focused on seizing opportunities rather than being hindered by concerns of race or sex. The internet has democratized access to information, and more people than ever are participating in these new economies. However, today’s biggest resistance to wealth creation lies within the individual and collective mindset. Overcoming the fear of the unknown and embracing the uncharted territory of new ideas is essential for progress.

The Power of the Individual in Closing the Wealth Gap

As we navigate the uncharted territory of the new economy, we must recognize that there is no proven path or playbook. We are writing the rules as we go along. This may seem daunting, but it is also an area where many individuals, especially Black people, excel. The gap in Black America’s wealth will only be closed when more individuals run to the edges and actively participate in these new economies.

It is encouraging to witness the increasing number of black individuals engaging in new media, finance, AI, and other emerging industries. The momentum is in our favor, and we live in a time when the collective world mind becomes more open to diverse perspectives. The dominance of the old Eurocentric perspective is gradually fading, making it the greatest time ever to be Black.

Implications and Potential Impact

The implications of embracing the new economy and closing the wealth gap are far-reaching. By actively participating in the edges of innovation, black individuals can become cooperative components of the global movement forward. This movement brings not only wealth but also happiness, peace, and joy. It is an opportunity to shape the future and contribute to a more inclusive and prosperous society.

Closing the wealth gap also has broader societal implications. When individuals from all backgrounds have equal access to wealth creation opportunities, it fosters a more equitable society. It dismantles the barriers historically hindering marginalized communities from achieving economic success. By embracing the new economy, Black America can rewrite the narrative and redefine what is possible.

The Lesson

The journey towards closing the wealth gap in Black America requires a continued collective shift in mindset. While external resistance has historically impeded progress, the internet has provided access to information and opportunities like never before. The resistance we face today is primarily internal, rooted in fear of the unknown.

Are there still biased people in positions of power? Of course. There always will be in any majority class’s perspective regardless of race, sex, or other classification. The point is the world is moving fast towards a more diverse perspective, and the perceived power of those with a Eurocentric perspective is no longer as strong as most believe it to be. Those of us playing at the edges see nothing but space and opportunity. There are no biases out here, but our own brought in from past memories and stories passed down.

Phillip Washington, Jr. is a registered investment adviser and Wealth Building Made Simple Podcast host. The information presented is for educational purposes only. It does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

The post Closing the Wealth Gap in Black America Through Investments in Innovation first appeared on BlackPressUSA.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

#NNPA BlackPress

IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78

NNPA NEWSWIRE — Born on September 4, 1945, in Los Angeles, California, activist Ramona Edelin’s early years were marked by a commitment to education and social justice. According to her HistoryMakers biography, after graduating from Fisk University with a Bachelor’s degree in 1967, she pursued further studies at the University of East Anglia in England. She earned her master’s degree before completing her Ph.D. at Boston University in 1981.
The post IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78 first appeared on BlackPressUSA.

Published

on

By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

Once upon a time, Black Americans were simply known as colored people, or Negroes. That is until Ramona Edelin came along. The activist, renowned for her pivotal roles in advancing civil rights, education reform, and community empowerment, died at her D.C. residence last month at the age of 78. Her death, finally confirmed this week by Barnaby Towns, a communications strategist who collaborated with Dr. Edelin, was attributed to cancer.

Born on September 4, 1945, in Los Angeles, California, Edelin’s early years were marked by a commitment to education and social justice. According to her HistoryMakers biography, after graduating from Fisk University with a Bachelor’s degree in 1967, she pursued further studies at the University of East Anglia in England. She earned her master’s degree before completing her Ph.D. at Boston University in 1981.

Edelin’s contributions to academia and activism were manifold. She was pivotal in popularizing the term “African American” alongside Rev. Jesse L. Jackson in the late 1980s.

Jackson had announced the preference for “African American,” speaking for summit organizers that included Dr. Edelin. “Just as we were called Colored, but were not that, and then Negro, but not that, to be called Black is just as baseless,” he said, adding that “African American” “has cultural integrity” and “puts us in our proper historical context.”

Later, Edelin told Ebony magazine, “Calling ourselves African Americans is the first step in the cultural offensive,” while linking the name change to a “cultural renaissance” in which Black Americans reconnected with their history and heritage.

“Who are we if we don’t acknowledge our motherland?” she asked later. “When a child in a ghetto calls himself African American, immediately he’s international. You’ve taken him from the ghetto and put him on the globe.”

The HistoryMakers bio noted that Edelin’s academic pursuits led her to found and chair the Department of African American Studies at Northeastern University, where she established herself as a leading voice.

Transitioning from academia to advocacy, Edelin joined the National Urban Coalition in 1977, eventually ascending to president and CEO. During her tenure, she spearheaded initiatives such as the “Say Yes to a Youngster’s Future” program, which provided crucial support in math, science, and technology to youth and teachers of color in urban areas. Her biography noted that Edelin’s efforts extended nationwide through partnerships with organizations like the National Science Foundation and the United States Department of Education.

President Bill Clinton recognized Edelin’s expertise by appointing her to the Presidential Board on Historically Black Colleges and Universities in 1998. She also co-founded and served as treasurer of the Black Leadership Forum, solidifying her standing as a respected leader in African American communities.

Beyond her professional achievements, Edelin dedicated herself to numerous boards and committees, including chairing the District of Columbia Educational Goals 2000 Panel and contributing to the Federal Advisory Committee for the Black Community Crusade for Children.

Throughout her life, Edelin received widespread recognition for her contributions. Ebony magazine honored her as one of the 100 Most Influential Black Americans, and she received prestigious awards such as the Southern Christian Leadership Award for Progressive Leadership and the IBM Community Executive Program Award.

The post IN MEMORIAM: Ramona Edelin, Influential Activist and Education Advocate, Dies at 78 first appeared on BlackPressUSA.

Continue Reading

#NNPA BlackPress

Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues

NNPA NEWSWIRE — Recent legislative actions in Tennessee, such as repealing police reform measures enacted after the killing of Tyre Nichols, underscore a troubling trend of undermining local control and perpetuating racist agendas. The new law preventing local governments from restricting police officers’ authority disregards community efforts to address systemic issues of police violence and racial profiling.
The post Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues first appeared on BlackPressUSA.

Published

on

By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

Tennessee State University (TSU), the state’s only public historically Black college and university (HBCU), faces a tumultuous future as Gov. Bill Lee dissolved its board, a move supported by racist conservatives and MAGA Republicans in the Tennessee General Assembly, who follow the lead of the twice-impeached, four-times indicted, alleged sexual predator former President Donald Trump. Educators and others have denounced the move as an attack on diversity, equity, and inclusion (DE&I) and a grave setback for higher education.

Critics argue that TSU’s purported financial mismanagement is a manufactured crisis rooted in decades of underinvestment by the state government. They’ve noted that it continues a trend by conservatives and the racist MAGA movement to eliminate opportunities for Blacks in education, corporate America, and the public sector.

Gevin Reynolds, a former speechwriter for Vice President Kamala Harris, emphasizes in an op-ed that TSU’s financial difficulties are not the result of university leadership because a recent audit found no evidence of fraud or malfeasance.

Reynolds noted that the disbanding of TSU’s board is not an isolated incident but part of a broader assault on DE&I initiatives nationwide. Ten states, including Tennessee, have enacted laws banning DE&I policies on college campuses, while governors appointing MAGA loyalists to university trustee positions further undermine efforts to promote inclusivity and equality.

Moreover, recent legislative actions in Tennessee, such as repealing police reform measures enacted after the killing of Tyre Nichols, underscore a troubling trend of undermining local control and perpetuating racist agendas. The new law preventing local governments from restricting police officers’ authority disregards community efforts to address systemic issues of police violence and racial profiling.

The actions echo historical efforts to suppress Black progress, reminiscent of the violent backlash against gains made during the Reconstruction era. President Joe Biden warned during an appearance in New York last month that Trump desires to bring the nation back to the 18th and 19th centuries – in other words, to see, among other things, African Americans back in the chains of slavery, women subservient to men without any say over their bodies, and all voting rights restricted to white men.

The parallels are stark, with white supremacist ideologies used to justify attacks on Black institutions and disenfranchise marginalized communities, Reynolds argued.

In response to these challenges, advocates stress the urgency of collective action to defend democracy and combat systemic racism. Understanding that attacks on institutions like TSU are symptomatic of broader threats to democratic norms, they call for increased civic engagement and voting at all levels of government.

The actions of people dedicated to upholding the principles of inclusivity, equity, and justice for all will determine the outcome of the ongoing fight for democracy, Reynolds noted. “We are in a war for our democracy, one whose outcome will be determined by every line on every ballot at every precinct,” he stated.

The post Tennessee State University Board Disbanded by MAGA Loyalists as Assault on DE&I Continues first appeared on BlackPressUSA.

Continue Reading

#NNPA BlackPress

Braxton Haulcy and the Expansion of Walker|West Music Academy

May 24, 2023 – Walker West Music Academy gets an early start on expansion. Join us for a Wednesday episode of The …
The post Braxton Haulcy and the Expansion of Walker|West Music Academy first appeared on BlackPressUSA.

Published

on

By


May 24, 2023 – Walker West Music Academy gets an early start on expansion. Join us for a Wednesday episode of The …

The post Braxton Haulcy and the Expansion of Walker|West Music Academy first appeared on BlackPressUSA.

Continue Reading

Subscribe to receive news and updates from the Oakland Post

* indicates required

CHECK OUT THE LATEST ISSUE OF THE OAKLAND POST

ADVERTISEMENT

WORK FROM HOME

Home-based business with potential monthly income of $10K+ per month. A proven training system and website provided to maximize business effectiveness. Perfect job to earn side and primary income. Contact Lynne for more details: Lynne4npusa@gmail.com 800-334-0540

Facebook

Trending

Copyright ©2021 Post News Group, Inc. All Rights Reserved.