Read the essay below. Afterwards,
try to get the best understanding you can of the following questions.
(1) What are the three basic components of the Black Power Economics system?
(2) What is Black wealth in general, and primary and secondary wealth in particular?
(3) Can individuals who are poverty stricken in one regard be rich in other regards? Explain.
(4) To make Black Power Economics work, who must provide the unselfish, revolutionary examples and establish the unselfish, revolutionary models?
So, the Black Power Economics system breaks down into three basic components. At level one is the Black Power Economist. At level two is the Black Power Economics Unit. And at level three is the Black Power Economics Governing Body. By right, each of the components within levels one and two will be independent of the others, but all of them must work together in order for the system to serve Black People to the maximum degree.
The Black Power Economics Governing Body, the straw that will stir the critical national and international flavor into the mix, will be totally dependent on the other components. Working together, both formally and informally, they all must learn to instinctively and intuitively make revolutionary investments; that is, invest Black wealth in a way that takes Black People beyond capitalism. They can't just talk about it, they must embark on a course of action and actually carry out activities in a systematic manner that converts more and more Black individuals into Black Power Economists. These Black Power Economists would then use their wealth to develop an ever more extensive Black Power Economic system.
But what is Black wealth? Black Power Economists must recognize two categories of wealth. Primary wealth is anything Black People control that can help provide for the needs and development of the Black Nation. Secondary wealth is anything Black People have access to that can help provide for the needs and development of the Black Nation. To the extent possible, Black Power Economists should rely on the wealth they control. To the extent necessary, Black Power Economists should make use of whatever wealth is available at a particular time. (For more on wealth, see class #10 of Economics 101. For related information, see class #4 of Black Nationalism 201.)
Black Power Economists will have to learn how to walk the tightrope insofar as primary and secondary sources of wealth are concerned. If a function or service is of a critical or ongoing nature, the wealth that supports that function should be of a primary nature. However, while the Black Power Economics system is in its early building stages, Black Power Economists will be tempted to "roll the dice" or take risks from time to time. Black Power Economists should develop enough mental toughness to resist those flashes of temptation. If the situation is "do or die," it might be okay to roll the dice. However, most "do or die" situations are the creations of undisciplined minds.
In the Economics 101 course, the importance of managing one's energy, time, know how, skills, labor and money were discussed. Review that material. All of those are primary sources of Black wealth. As one develops into a Black Power Economist, his or her sources of personal wealth transform into collective wealth and are treated as the property of the Black Nation. An individual who is poverty stricken money wise might be rich time wise or know how wise. Black Power Economists will learn how to make the most of their riches and the riches of the Black Power Economics Units.
Before ending this class, I will repeat something that was said in the previous class: The wealth that the Black Power Economists manage first (individually and collectively) will be their own wealth. Black Power Economists will provide the unselfish, revolutionary examples and establish the unselfish, revolutionary models. As others are made aware, become Black Power Economists and join the Black Power Economics movement, the system will expand and become dominant in the lives of Black People.