*Attorney Antonio Moore discusses the Nielsen release of Black Buying Power being 1.2 Trillion dollars. Moore makes the argument that the data is flawed, and when applied shows that black America is in trouble financially.
Moore uses timing, cross cultural, and intra-race analysis to deliver a cogent argument that black America should not allow this consumption based data to hide the dire state of black America’s current economics.
Internally Black America faces extreme wealth inequality between the top ten percent of homes and the rest of the race, that far out paces the inequality seen white America. Moore has shown prior, “Wealth is not distributed unevenly just among whites. The data shows that the top 20% of black families control 95% of the little American black wealth that does exist. “
Moore sites to Professor Jared Ball’s article on Black Buying Power which state:
The claim that African America has roughly $1 trillion in “buying power” is popularly repeated mythology with no basis in sound economic logic or data. While the myth has a longer history it is today largely propelled by misreadings and poor (false) interpretations of Nielsen surveys and marketing reports produced by the Selig Center for Economic Growth at the Terry College of Business housed in the Bank of America Financial Center in Athens, GA. … The myth of “buying power” functions as propaganda working to deny the reality of structural, intentional and necessary economic inequality required to maintain society as it is, one that benefits an increasingly decreasing number of people.
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