The Myth of Black Buying Power
Economic Update with Richard D. Wolff
Democracy at Work
4.8 • 2.1K Ratings
🗓️ 10 April 2024
⏱️ 29 minutes
🧾️ Download transcript
Summary
[EU S14 E14] Economic Update: The Myth of Black Buying Power
This week's Economic Update Professor Richard Wolff discusses how the capitalist political economy can explain the Baltimore bridge disaster, we explain why raising minimum wages helps big vs small businesses. We highlight the recent court rulings in New York and how cities can lower rents for their citizens as Kingston, NY just did, (if tenants mobilize to do so).
Finally an Interview with Professor Jared A. Ball on the myths of black buying power and black capitalism and the role such myths play in supporting capitalism.
Jared A. Ball is a Professor of Communication and Africana Studies at Morgan State University in Baltimore, MD. and author of The Myth and Propaganda of Black Buying Power. Ball is also host of the podcast "iMiXWHATiLiKE!", co-founder of Black Power Media
The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so.
You can support our work by joining our Patreon community:
https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate
Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else.
We want to thank our devoted community of supporters who help make this show and others we produce possible each week.
We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome, friends, to another edition of Economic Update, the weekly program devoted to |
| 0:15.8 | the economic dimensions of our lives and those of our children. I'm your host, Richard Wolfe. I want to remind |
| 0:24.5 | you that Charlie Fabian is ready and waiting to take whatever suggestions you have regarding |
| 0:29.9 | future segments of this program. You can reach him via email at Charlie.com at charlie.info438 at gmail.com. Once again, Charlie.com |
| 0:43.7 | 438.48.com. In today's program, we're going to be talking about the Baltimore Bridge |
| 0:52.3 | disaster, about minimum wages in the United States, |
| 0:57.0 | and about cities able, willing, and now having done successful rent reduction for the people |
| 1:07.1 | living there, something that concerns Americans struggling with higher rents than we've |
| 1:12.7 | ever seen in this country before. |
| 1:14.9 | And then the second half of the program, we'll have an interview with Professor Jared Ball, |
| 1:20.5 | a professor of communications in Africana Studies, who's going to be talking about black |
| 1:27.3 | buying power and black capitalism |
| 1:31.0 | here in the United States. |
| 1:33.3 | Okay, I'm sure all of you have seen the pictures that are really striking of that freighter |
| 1:41.3 | loaded with containers that crashed into the Francis Scott Key Bridge outside |
| 1:48.0 | of Baltimore, Maryland, a few weeks ago. |
| 1:53.0 | It was a terrible disaster. |
| 1:55.2 | There was loss of life. |
| 1:57.0 | There was terrible damage. |
| 1:58.9 | And there was real destruction of trade routes and schedules |
| 2:04.9 | and economic losses and all the rest. |
| 2:08.0 | A genuine catastrophic accident that happened here in the United States. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Democracy at Work, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Democracy at Work and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.