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In Class with Carr

S E119: "Money is Power!" The Black Dollar (Part 2)

In Class with Carr

Knarrative

Africana Studies, Society & Culture, Education, History, Karen Hunter, Empowerment, Greg Carr

4.9972 Ratings

🗓️ 30 July 2019

⏱️ 13 minutes

🧾️ Download transcript

Summary

Karen and her guest Andrew McCaskill (formerly of Nielsens) break down the economic history and power of the black community. And they take a look at where black people spend their dollars and why. Also, check out the five questions you should ask yourself before making a purchase.


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Transcript

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0:00.0

This is Karen Hunter and welcome to the hub. Up next part two of my interview with Andrew McCaskill where we're discussing the black buying power and Andrew McCaskill asks five questions well he gives us five questions we should ask ourselves before spending our dollars.

0:25.9

Number one, can I get this product or service in my neighborhood?

0:29.9

Well, why is that important?

0:31.5

Well, the black dollar circulates less than one day. So if we're going outside of our neighborhood to spend our dollars, then that's even worse. It's going to be even harder to close the wealth gap.

0:41.0

Number two, does the company I'm about to do business with hire

0:44.8

people who look like me? That's a powerful thing. Think about that. Number three,

0:49.4

do I see positive images of myself in content or advertisements for this company?

0:56.6

Number four, does the company support causes important to my community?

1:01.8

Well, that may not have been important years ago but today it is I

1:05.0

know recently it was a story of a sneaker company that recalled a bunch of

1:08.6

sneakers because you know that the sneakers were culturally insensitive.

1:14.3

That's a company that is concerned

1:17.4

about its bottom line and rightfully sell but that also speaks to the power

1:22.0

of the black dollar that it could force that

1:24.0

company to do the right thing. Number five, if any of the first four questions had

1:29.9

a no answer are you still going to spend money with those companies and why is

1:34.7

this important because we're talking about power and we're talking about buying

1:37.8

power and Andrew said all money is power how we spend our money will determine how much power we have.

1:44.2

Just like Baldwin said, freedom is a choice.

1:46.2

Freedom is what you take from it.

1:49.5

Freedom is what you take.

1:51.6

Our buying power is what we make so I hope you enjoy this interview let

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