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jerryking : capital_accumulation   4

Opinion | Abolish Billionaires - The New York Times
By Farhad Manjoo
Opinion Columnist

Feb. 6, 2019

A radical idea is gaining adherents on the left. It’s the perfect way to blunt tech-driven inequality.
Alexandria_Ocasio-Cortez  Anand_Giridharadas  artificial_intelligence  capital_accumulation  digital_economy  Farhad_Manjoo  income_distribution  income_inequality  moguls  network_effects  radical_ideas  rhetoric  software  superstars  winner-take-all 
february 2019 by jerryking
A Place Called Heaven_pgs. 82-83
1996 | Cecil Foster

Progress will come only through economic independence, the Chief Justice argues, because only then will Blacks be free of the control of other groups. Only then will they be beyond hoping that some politician will appoint one of them to some top job, even as chief justice. Blacks start having clout only when they take greater pride in their identity and work together, when they stop being distrustful of one another because they, too, might have bought into the negative stereotypes other groups have spread about Africans and descendants. “There is a complete absence of influence in matters that affect us as a community, as a people. An inability to lend a helping hand to brothers and sisters in need." the Chief Justice explains in the interview. Julius Isaac chooses his words carefully. pondering every question and occasionally pausing mid-sentence to reflect on what he is saying. "The last time l was in Toronto. l met a Jamaican fellow who told me that he owns a factory where he employs about 50 West Indians, and l thought that he is a unique individual. That is the sort of thing l am talking about: to have the ability to help and to influence the matters that affect our lives. We are at the mercy of other people in the community. You look around at the way in which the society is organized, and for want of a better word, you realize that it is organized on a tribal basis and that each tribe is vying for economic stability. ,I in order to ensure that matters that concern members of that tribe are disposed of in the most advantageous way. We are not able to do that. That is the nutshell of my thinking."
Part of the problem rests with society and the way it is organized. But Blacks must also take their share of the blame, he says. "We do not have the sharpened, acquisitive instinct. lf it is sharpened, it is in a very marginal way that affects a family or an individual. We haven't been able as a community in Canada to acquire significant pools of capital to put at the disposal of the community for its development. l think that is where the focus should be."
African_Canadians  capital_accumulation  capital_formation  distrust  disunity  economic_clout  economic_empowerment  economic_nationalism  ethnic_communities  judges  mindsets  producer_mindset  self-reliance  self-determination  strategic_thinking  tribes  trustworthiness 
january 2013 by jerryking
Return to Self-Reliance
August 13, 1997 | Wall Street Journal | Jason L. Riley

A sad truth of late-20th-century black history is the lack of emphasis black leaders have placed on economic independence, opting instead to funnel resources toward integrating predominantly white institutions, be they political, corporate or educational. Such was not always the thinking; indeed, blacks left bondage with a very different mind-set.

"When you think back to the situation right after the Emancipation Proclamation, African-Americans did a couple things coming right out of slavery," Mr. Price said recently in an interview. "They started up colleges and they started up businesses, like independent farms and burial societies that led to the creation of insurance companies. And as black folks moved into the cities, they started everything that came with living there--barber shops, grocery stores, hotels."

Part of the reason blacks were able to do these things despite the racial barriers of Reconstruction and, later, Jim Crow, was the guidance and support of individuals such as Booker T. Washington. The pre-eminent black leader of the late 1800s and early 1900s, Washington was a shrewd self-help advocate and educator, and a relentless promoter of black economic independence. In 1901, the black novelist Pauline Hopkins called him "probably the most talked of Afro-American in the civilized world today."

A famous William Johnson painting of Washington shows the former slave addressing a class full of attentive black children. The blackboard behind him depicts a plow, a shovel, books and writing instruments--symbolizing the "tools" Washington realized were essential to the postslavery progress of his race. Demonstrating a keen understanding of the central role money and wealth accumulation play in advancing a people, Washington said: "No race that has anything to contribute to the markets of the world is long in any degree ostracized."
Jason_Riley  African-Americans  conservatism  Booker_T._Washington  Emancipation  capital_formation  capital_accumulation  self-help  civil_rights  education  self-reliance  Jim_Crow  economic_empowerment  generational_wealth  institutions  desegregation  history  Reconstruction  leaders 
september 2012 by jerryking
Who Creates the Wealth in Society? - NYTimes.com
May 21, 2010 | New York Times | By UWE E. REINHARDT. From the
comments "Wealth creation requires a set of legal principles and a legal
framework that protect individuals and their property rights. The "who"
is this respect is well-functioning, independent and non-courrupt
judicial system that is able to enforce such rights. This is where
government plays its most significant and valid role; however, in terms
of the size of government in the economy it is hardly
measurable."..."Here, I think he has overlooked the most simple and
fundamental truth about the creation of individual or societal wealth:

Real wealth is created by individuals and societies who are willing to
postpone immediate gratification for longer-term benefit. If everything
produced is immediately consumed, no net wealth is created. If, instead,
more is produced than consumed, not only is wealth created, but so is
the capital needed for future wealth appreciation."
value_creation  wealth_creation  government  delayed_gratification  rule_of_law  justice_system  infrastructure  legal_system  property_rights  institutional_integrity  long-term  instant_gratification  capital_formation  capital_accumulation  indepedent_judiciary 
september 2010 by jerryking

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