The Myth of Black Capitalism, Earl Ofari Hutchinson reflects on the relevance of his work more than fifty years after its initial publication. Even despite the promotion of wealthy Black individuals as model capitalists and COVID recovery schemes purported to help Black entrepreneurs, “Little had changed except the desperation of countless numbers of near penniless, distressed Black small business owners.” | more…
Deciphers the history of “Black capitalist” rhetoric— and how it serves to enrich a minuscule few at the expense of the many
In his 1970 book The Myth of Black Capitalism, Earl Ofari Hutchinson laid out a rigorous challenge to the presumption that capitalism, in any shape or form, has the potential to rectify the stark injustices endured by Black people in America. Ofari engaged in a diligent historical review of the participation of African Americans in commercial activity in this capitalist country, demonstrating conclusively that the creation of a class of Black capitalists failed to ameliorate the extreme inequity faced by African Americans. Even “Buy Black”