By definition, economics is “the study and process of producing, distributing (or exchanging), and consuming goods and services” (Maulana, 2010), and in part economics influences every aspect of social life.
2. The political economic status of the ghetto is that of a domestic colony. In many ways, the ghetto is being oppressed, isolated, deprived, and exploited in a similar manner as the former colonies. The majority of the residences are unemployed (resulting in a strong dependency on government aid) or making wages that cannot sufficiently support a family, the businesses in the ghetto are sucking the people of the little resources that they have and spending that profit outside of the community. As a majority of the business owners in …show more content…
The categories of data of economic disadvantages to the Black communities are income inequality, higher poverty rates, high unemployment rates, the unequal distribution of occupations, and the hindering of the accumulation of wealth.
4. The topic of race and class intersects as a problem for the Black economics on two levels. Both race and class are used as the basis of Black exploitation and oppression. Additionally, an increase class division within the Black community tends to impede the overall struggle for a solution to the problem of Black economic development.
5. Sowell’s and Wilson’s contentions and arguments against the racial interpretation of disadvantages were that race was not as significant to the economic disadvantages of the Black community, as the increase in the class division. Additionally, the declining significance of race created the new middle-class insensitivity to “lower” class Blacks. Which is then used by the white population to control Black individuals in the working and …show more content…
DuBois’s cooperative economic proposals were “the need for a communal, Black-focused solution that would emphasize and establish the following; social ownership, strong family and group ties, consumer unions, economic planning, socialized medicine, cooperative organization of Black professionals for social service, elimination of private profit, Black controlled educational system, and the essentiality of collective self-reliance” (Maulana, 2010), he coins this solution as ‘a cooperative commonwealth”.
9. The arguments for cooperative economics are for the revitalization of the socio-economic conditions of urban communities. By providing employment and educational opportunities, generating revenues and capital for sustainable economic growth, cooperative competition, development of community members, and returning accumulated wealth to the community and members of the cooperative.
Critical Thinking
2. The political economic status of the ghetto is that of a domestic colony. In many ways, the ghetto is being oppressed, isolated, deprived, and exploited in a similar manner as the former colonies. The majority of the residences are unemployed (resulting in a strong dependency on government aid) or making wages that cannot sufficiently support a family, the businesses in the ghetto are sucking the people of the little resources that they have and spending that profit outside of the community. As a majority of the business owners in …show more content…
The categories of data of economic disadvantages to the Black communities are income inequality, higher poverty rates, high unemployment rates, the unequal distribution of occupations, and the hindering of the accumulation of wealth.
4. The topic of race and class intersects as a problem for the Black economics on two levels. Both race and class are used as the basis of Black exploitation and oppression. Additionally, an increase class division within the Black community tends to impede the overall struggle for a solution to the problem of Black economic development.
5. Sowell’s and Wilson’s contentions and arguments against the racial interpretation of disadvantages were that race was not as significant to the economic disadvantages of the Black community, as the increase in the class division. Additionally, the declining significance of race created the new middle-class insensitivity to “lower” class Blacks. Which is then used by the white population to control Black individuals in the working and …show more content…
DuBois’s cooperative economic proposals were “the need for a communal, Black-focused solution that would emphasize and establish the following; social ownership, strong family and group ties, consumer unions, economic planning, socialized medicine, cooperative organization of Black professionals for social service, elimination of private profit, Black controlled educational system, and the essentiality of collective self-reliance” (Maulana, 2010), he coins this solution as ‘a cooperative commonwealth”.
9. The arguments for cooperative economics are for the revitalization of the socio-economic conditions of urban communities. By providing employment and educational opportunities, generating revenues and capital for sustainable economic growth, cooperative competition, development of community members, and returning accumulated wealth to the community and members of the cooperative.
Critical Thinking