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November 12, 2003

The End of Black Capitalism

What do you get when you put together the mighty resources of the most notable black entrepreneurs and collectively pool them into political action? You get less than a half million bucks in Al Sharpton's warchest. In this Washington Post article are the depressing details.

One of the permanent discussions we used to parse in the good old days of SCAA (damn, I haven't been back to that ghetto in a long time), was the issue of Ujamaa vs Black Capitalism vs Blackface Capitalism. I think it's time to acknowledge that Blackface Capitalism has won the gold medal.

Understand that a choice between styles of economic theory is political for most who bloviate about black unity. How closely those politics are to reality is up for debate, but it's not a debate held often enough. Although I am being facetious about the net influence of folks like Earl Graves, it does give one pause.

I'll simply say that this is another example of where blackfolks who put a great deal at stake in the presidential candidacies of blacks are over-investing mindshare and under-investing money. This cannot long be productive if it ever was.

Posted by mbowen at November 12, 2003 11:11 PM

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Some of us who back Black Capitalism are demading a rematch. We can't let Blackface front on us like that. Think Ali and Forman.

Posted by: walter at November 13, 2003 01:03 AM

Although I am every bit as black as Sharpton, I wouldn't give "Reverend" Al a dime of my own money even if I were as wealthy as Bill Gates. A politician has to be more than merely the same skin color as I am to deserve my support.

In short, perhaps these wealthy black entrapreneurs are using their heads, and refusing to throw their money down the rathole that is Al Sharpton's presidential campaign. What qualifications does Sharpton have for office anyway, other than an ability to stir the crowd to anger, and why would an entrapreneur of any color who was in his right mind back Al Sharpton, of all people?

Posted by: Abiola Lapite at November 13, 2003 02:45 PM