Why Should Blacks Emulate The Financial Practices Of The Jewish Community?

I recently came across an interview between Dr. Boyce Watkins and Min. Louis Farrakhan and I was intrigued to say the least. The discussion was highlighting the fact that even though there has been a boom in accumulated wealth by African Americans in corporate America, the entertainment industry and academia it hasn’t made a difference for disparity in the black communities.

In this video, Farrakhan suggests that Black America should study the white man, in particular the Jewish community. He says that emulating Jewish practices in the black community could single-handedly change the lives of African-Americans because Jewish people know the value of working collectively, and passing the wealth.

He also mentions, that people in the Jewish community are at the top of many prestigious professions such as doctors, bankers, lawyers, and teachers. This makes their success disproportionate because they only represent a very small percentage of America with approximately 5.7 million people.

He also educates Dr. Boyce Watkins on the Jewish presence in politics. The minister stressed some of the highest positions of House, Senate, and Supreme Court are occupied by Jewish people. Which may be strategic for maintaining good political

Lastly, he mentioned the history of the Jews businessmen and black people. The Jewish plantation owners, merchants would come with backpacks to sell goods and supplies needed to maintain the plantation. This eventually set the foundation of Jewish people selling goods in black communities.

After watching the interview, Farrakhan’s perspective helped me understand black leaders, history and the community better. Growing up in New York, I observed all the businesses along 125th Street in Harlem were owned by Jews. But I never questioned the history of it all, to me it was just the way it was. But the wealth and practices of Jewish people did not fall out of the sky.

As a small history lesson, many years ago, the Jewish community faced discrimination, exile and prejudices. They were not seen as equals, allowed to become doctors, lawyers or seek higher education. Consequently, out of necessity they had to created their own institutions.

Thankfully, At the time there was enough resources (not just money) and sense of community. This enable them to create stores, restaurants, hospitals, etc. They used their spending power to build our communities. And those practices of maintaing wealth in the community just became their permanent mode of operation.

I read recently that in the African American community there is an annual spending power of at least one trillion dollars. That’s a lot of wealth and can truly make a difference. I hope the African American community can get to the point of operating as a “collective” and keeping money in the community. Because Minister Farrakhan is correct, that is key to reviving your community.

Check out the full interview below.

What do you think?