The formula for recycling community dollars has seemingly been mastered in every ethnic community except the Black community. According to a study by the University of Georgia’s Selig Center for Economic Growth, money circulates 0-1 time in the Black community, whereas it circulates six times in the Hispanic community, nine times in the Asian community and an unlimited number of times in the White community.
For too long, Black and Hispanic political leaders have failed to leverage the political power of their communities on Election Day to protect the Black and Hispanic community from housing displacement to being excluding from the awarding of billions of dollars in city contracts in New York City.
For instance, the City of New York with a population that is 50% Black and Hispanic, spent $21 billion in goods and services with vendors in 2016 — but of all of those citywide contracts, less than $1 billion (or less than 4.9% of $21 billion) was awarded to Black and Hispanic businesses (and Asian and women).
Just think how many Black and Hispanic men and women could be hired by companies owned by Black and Hispanic men and women if Black and Hispanic political leaders used their power to demand that the City of New York award contracts with more regard for a city with a population that is 50% Black and Hispanic.
Rikers Island is the jail of the City of New York with an inmate population that is 90% Black and Hispanic at a per inmate annual cost of $168,000 in a city that is only 50% Black and Hispanic (and a combined White and Asian inmate population of less than 10 percent).
"It is fair to say that we have witnessed an evolution in the United States from a racial caste system based entirely on exploitation (slavery), to one based largely on subordination (Jim Crow), to one defined by marginalization (mass incarceration)," said Michelle Alexander, author of The New Jim Crow".
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