Word: capitalisme
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The theoretical foundation of the Bicentennial campaign is outlined in an 80-page summary of American history, excerpted from a book entitled Will the Revolution Succeed? by Edward Schwartz. Citing the Declaration of Independence, Andrew Jackson, Abolitionists and the Populist Manifestos, Schwartz presents a picture of the American as democratic...
When Richard Nixon first brandished the phrase "Black Capitalism" during the 1968 campaign, it captured the imaginations of blacks and whites alike.
Now, as the effort begins its fifth year, the record of Black Capitalism at best is mixed. Government purchases from nonwhite firms have rocketed from $17 million to $394 million since 1969, the Small Business Administration has increased loans and loan guarantees to nonwhites to $258 million a year, and...
Black capitalism's champions and critics generally agree that some kind of Government-sponsored program must be continued, but that it must not concentrate on failure-prone small businesses. Says Darwin W. Bolden, a member of the President's Advisory Council on Minority Enterprise: "It's time...
Such a shift, he says, would require OMBE to concentrate its efforts on assisting blacks to form larger ventures in manufacturing, banking, construction and services. It might require the Government to lend larger amounts to individual entrepreneurs. If such steps are not taken, Black Capitalism is likely to remain just...