From boycotts to buying from black-owned businesses
James Clingman | 7/29/2016, 12:30 p.m.
Back to the stewardship issue and how it relates to our reactions not only to police shootings of black people, but also to our overall position in this country. Boycotts, if sustained, can work, but “work” to do what? Yes, they may turn the tide of recalcitrant corporations that only care about our dollars, which we give to them without reciprocity.
However, the “work” that any economic sanction effort should and must produce is economic empowerment for black people. Our efforts cannot be centered on hurting someone else; they must be done in an effort to help ourselves. Thus, we must have a strategic plan, and an organized movement to redirect the money we withhold back to our own businesses as much as possible.
As for depositing our money in black banks, we must do our due diligence, meet and develop relationships with bank managers, and I would recommend doing what the Collective Banking Group (Now called the “Collective
Empowerment Group”) did back in 1995 up to this present day. The group wrote covenant agreements with the banks and held them accountable for what they said they would do for their members in return for their deposits.
We must practice good stewardship if we want to be empowered.
James Clingman is the nation’s most prolific writer on economic empowerment for black people. His latest book, “Black Dollars Matter! Teach your dollars how to make more sense,” is available at www.Blackonomics.com.