The Wealth Distribution Divide: A REBOOT Podcast Review of Episode #41
For those that choose to live a purpose driven life, REBOOT’s podcast episode #41 Are You Afraid of Your Own Power? breaks down the distribution of wealth and the socioeconomic factors that influence the level of access to capital one has throughout their life. The ability to distribute wealth and stimulate economy in your own community by your own accord is true display of power in which has generational net effects on society.
One of the key tenants of the podcast discusses race playing a key role in wealth creation and sustainable across generations. In addition, there was a call to action to take responsibility for issues occurring in and around our communities. The mere fact that we’ve identified issues and discuss the injustices of people of color isn’t good enough anymore. We have more access to information and resources than ever before. From access to 1) investment portfolios, 2) technology frameworks to build web/mobile apps and 3) online media that disseminate information globally we’re posed to make a difference and change the course of history.
The question to ask yourself, when I talk to my kids and share my story of the socio-economic injustices instituted in America during my day, did I take action or did I allow the cycle to persist?
Wealth distribution isn’t a new concept as in the early 1900s a group of African Americans known as “Black Wall Street” took action and was able create and sustain an economy through the collective aggregation of THEIR Capital within the Greenwood neighborhood in Tulsa, Oklahoma. They built schools, hospitals, restaurants, banks, grocery stores, construction & manufacturing companies and law firms for the community. By doing so, they were able to circulate funds within their community up to 100x before money left Greenwood which created a framework for wealth creation.
The conversation about wealth applies to all cultures and ethnicities. It’s our responsibility to provide intellectual and generational wealth to our youth. By doing so, we break the chain of self doubt that clouds one’s ability to achieve social action. Given that all history isn't always well documented we must share these stories with our peers and youth to build advocacy of such endeavors as building wealth. History has a tendency of repeating itself throughout life and I beg the question, will we ever see a reemergence of the “Black Wall Street” movement?
