1 Organizations that embraced black capitalism as an organizing and funding-raising approach effectively acquiesced to an economic and political system that forced the larger black community into a lower societal stratum. foundations, corporations, government, etc.) served less the black community and more as mid-level bourgeois elite between the capitalist power structure and its worker class. Advocates of black capitalism, as well as groups that partnered with capitalist structures (i.e. Allen challenged black capitalism’s efficacy as a strategy for community economic empowerment and categorized the concept as a subsidiary of a larger financial system that rewarded the few and subjugated the bulk of the poor and working class into capitalist servitude. Robert Allen’s, Black Awakening in Capitalist America, shaped the debate on black power and became the defining text on black capitalism during the late 1960s.
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