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What is Black Economics?

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  • What is Black Economics?

    Listen as Maya Angelou sets the scene for consideration of Black Economic issues.

    Black economics is the study of the "economics" social science from the perspective of Black people of the world. Among other things, it is a process of answering the following types of questions from a "Black" perspective: What must Blacks do to enhance their economic circumstances and outcomes? Are existing economic theories consistent with Black realities? How does the Black experience uniquely inform economic concepts and issues? What are the future economic visions for Blacks? What are the first-best methods for integrating Black economics into world economics? In essence, Black economics is Black Nationalism.

    As part of the Black economics process, we ask: Why are there so few Black economists?

    We know that economics concerns the distribution of scarse resources, and that economists possess the tools to comprehend, analyze, and shape life for individuals, communities, nations, and for the world.

    As a priori responses, we recognize that economics primarily concerns a very simple event: One economic agent's (i.e., an individual, a household, a firm, a government) willingness to trade a good, service, asset, or liability with another economic agent in exchange for another good, service, asset, or liability.

    Economists master the social science of describing these basic transactions in a variety of contexts: e.g., under perfect or imperfect competition, in capitalist, socialist, or communist environments; in a barter exchange or money economy; when money is backed by gold or other precious metal or is fiat money; in an open or closed economy; and under fixed or flexible exchange rates
    .
    Black economics is the process of using these basic concepts to answer the more complex questions that were posed at the outset.


    http://blackeconomics.org/what_is_black_econon.html

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    [thank bro
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    • #3
      Bro. Elder Ba'Khyr is an economist. I have followed the Elders' plan. The following is the plan used on food and its' results: I AM a cook at home, and eat out once per week. In October 2011 my family and I ate one piece a chicken, eating it last after eating the vegetables and rice. By the time we got to the chicken we were almost too full to eat it. Two 12 piece bags were left over to the next month. We eventually inceased our chicken intake and over a period of four months we had to eat the chicken in the freezer, because there was no room for any other foods. We learned: Eat to live, not live to eat! Next, I used the Elders' plan on money (I AM a tither-giving 10% of my fixed income to the Elders' organization), and the following are the results:I pay my tithes before I pay anyone else (creditors). Following this plan since 2/3/2011 until the present, I have paid off credit balances, receieved a favorable credit report, have a favorable standing with creditors, pay my monthly expenses on time and before time, take care of the material possessions my Creator has made me steward over, not waste, went from paying $179 per month for rent to paying $544 per month with ease, and I AM the sole income person in a household of two adults. We have a van that needs maintenance, yet has been sustained and maintained miraculously for over a year, while renewing the insurance, plates, driver's license and buying gas as needed. We are relocating, and the management of the apt. complex is very sad to see us leave. The original vacate date was 2/14/2012, with the rent being almost $254 the last day. Now, the manager decided to end our lease 2/02/12, with the rent being approximately $50. Now the necessary maintenance can be done on the van before traveling. We don't spend because this culture says spend, yet we are responsible for what we get. That is being a good steward over the resources our Creator has placed into our possession. We do our best to take nothing for granted, and do our best to respect everything and everybody. Shalam!

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