Title of Course: Economics 101

Black Power Economics: The Building Blocks

Mba Mbulu, Instructor

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Read the essay below. Afterwards, try to get the best understanding you can of the following questions.
(1) What is your understanding of economics?
(2) Is it necessarily relevant that some economic systems are more highly organized than others?
(3) What areas are at the core of an economic system?
(4) Is there something more fundamental to an economic system than goods, services, profits and incomes?

Class #1: Economics and Black Power Economics [Audio Version]

Economics is a science. By that, I mean it is an organized system of activities (some economic systems are more highly organized than others), as opposed to a random series of activities. This will be one of several classes that asks fundamental Economics questions, and answers those questions as simply as possible. The question for this class is, "What, in fact, is Economics?

What, in fact, is Economics?

Economics is that element of a social structure that concerns itself with the production, distribution and consumption of wealth. Economics, then, is the management of wealth; the management of the goods, services and expenditures of not only a community or state, but of a household as well. As a management science, Economics also addresses other issues of wealth; those that revolve around health, education, labor, finances, taxation, retirement and the like.
We have to stop focussing on or revolving Our thoughts around money when We talk about economics. We must remember that, as important as it is, money is only an economic tool. There are other tools that should be and can be much more important than money. Black People in the United States have to develop an understanding of and appreciation for those other tools, and learn how to use those other tools to help establish an economic system that is more to Our liking.

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