Dr Boyce Watkins: White families have 16 times more wealth than black ones. Here’s how to keep that
by Dr Boyce Watkins
I woke up this morning on a mission. The mission is to do all that I can to help our community solve the financial problems that plague us in the 21st century. Ironically, many of these issues are the very same problems we faced in the last century and even the one before it.
This leaves me very frustrated.
According to Forbes Magazine, the average white family has a shocking 16 times more wealth than the average African American family. This glaring statistic is the kind of thing that is never going to be solved by voting for the “right” presidential candidate. It is also not going to be solved by millions of us working for people outside of our communities.
Although reparations could put a dent in the wealth gap, the truth is that they are not coming anytime soon.
The gap must be addressed by reshaping the economic mindset and deliberate actions of black people across the nation. The answer is going to come from our children.
In this video below, I talk about creating a Black Economic Army: A collection of tens of thousands of black children who are equipped with the basics of financial literacy, wealth-building, business development and cooperative economics. I believe this vision is possible, and I believe we have the means to move.
The video is below.