In this moment of deep political awakening, amid the backdrop of global genocides, a looming election, and an increasingly polarized world, the urgency for saving Black wealth and organizing for Black liberation has never been clearer. We’re witnessing a critical juncture where Black communities worldwide are facing systemic erasure—from economic decimation to cultural appropriation—and we must rally ourselves to find solutions that will ensure our survival and our prosperity. Communities are mobilizing, organizing, and advocating for change, yet the threats to our collective future remain dire. The idea that Black wealth could hit zero by 2053 isn’t some far-off hypothesis—it’s an urgent call to action.
It’s in moments like these that the teachings of Malcolm X echo more powerfully than ever. His philosophy on self-sufficiency, economic independence, and liberation from systems designed to exploit and oppress Black people resonates profoundly today. But before we dive into how Malcolm X’s teachings apply in 2024, it’s crucial to honor the legacy of the movements and organizations that were birthed in his wake.
The Legacy of Malcolm X’s Organizational Impact
Before his assassination in 1965, Malcolm X founded the Organization of Afro-American Unity (OAAU), an entity with the ambitious goal of uniting Black people globally, while charging the United States with violations of Black people’s human rights. He wasn’t just fighting for civil rights within American borders—he was pushing to put Black people’s struggles on the global stage, likening the U.S. government’s treatment of Black people to the practices of oppressive regimes across the world. This wasn’t merely a domestic fight; Malcolm sought to make Black America’s battle for equality a global issue of justice. Through the OAAU, he was working to present a case to the United Nations, accusing the United States of genocide and human rights violations against Black people. This was the kind of bold move that could have redefined Black liberation as a global, not just national, struggle for freedom from Western imperialism and domestic terrorism.
Malcolm X’s murder was a tragic collaboration between factions of the Nation of Islam and the U.S. government, at the very least. Some speculate that additional forces and entities, possibly international, were involved in ensuring his vision for Black people’s global liberation would never fully materialize. But despite their efforts to silence him, the organizations he inspired—particularly the Black Panther Party—picked up where Malcolm left off.
The Transformative Impact of the Black Panther Party
The Black Panther Party became the visible force that took Malcolm X’s teachings on self-defense, self-sufficiency, and economic power to a new level. Their bold stance made it clear that they weren’t asking for permission to exist—they were demanding it. The Panthers forced the U.S. government to act, to legislate policies that would provide a semblance of equality for Black people. Beyond their infamous confrontation with law enforcement, the Black Panthers instituted community programs like free breakfast programs for children, free medical clinics, and education initiatives that laid the groundwork for current programs like Head Start, WIC, and public assistance reforms. These programs were designed to provide immediate relief to Black communities and, in some ways, forced the government’s hand to expand similar services.
Yet, the government’s response wasn’t entirely altruistic. The crackdown on gun ownership through new regulations disproportionately affected Black people, aiming to disarm the very communities that sought to protect themselves from state violence. Still, the Panthers’ demands for economic and social justice left an indelible mark on U.S. policy.
The Crossroads We Face in 2024
As we stand at the precipice of another critical election, the stakes for Black communities are existential. We have an electoral landscape that could either give us a president who publicly aligns with the needs of Black communities or a leader who promises to return us to the Jim Crow era. The recent gains made by Black communities—though often hard-won and slow-coming—are under constant threat.
What’s clear is that the status quo is unsustainable. If we continue to hope for white liberal philanthropy or government interventions to save us, we may find ourselves exactly where some predict—zero Black wealth by 2053. It’s not enough to sit and wait for help. The systems that have historically failed Black people are not suddenly going to work for us. As Malcolm X taught us, we must organize ourselves. We must pool our resources, invest in Black-led businesses, support our own institutions, and strive for economic independence. The melting pot narrative threatens to erase our cultural identity, our language, our rhythm, and our creativity, all of which are critical to the vitality of Blackness in the modern world.
Reclaiming Our Economic Power
If Black people are to avoid economic oblivion, we must harness the power of collective economics. We must look at the wealth within our communities—our billionaires, our investors, our community organizations—and leverage that to create pathways to economic self-sustainability. It’s not enough to survive—we need to thrive, to be politically strong and economically resilient. We have the blueprint from leaders like Malcolm X, Marcus Garvey, and the Black Panther Party. Now, we need to execute that strategy with the urgency that our situation demands.
We’re not just talking about surviving the next election or fighting off a regression to the Jim Crow era. We’re talking about preserving and building upon the legacy of Black culture and Black power for future generations. The next Black History Month will be yet another reminder of how long we’ve been in this fight. It’s time to ask ourselves: What are we going to do about it?
This series will explore exactly that—where the money sits in Black communities, how it’s being used, and how we can strategically direct it to give us the greatest impact. From our billionaires to Black-owned venture capital firms, we’ll look at the people, organizations, and resources that have the power to change the game for Black communities globally.
Featured Image:
This vibrant painting of Malcolm X by Tawana Davis captures the iconic leader’s intensity and contemplative spirit through a bold and expressive use of color and texture. Davis employs a rich, impressionistic style, using thick, deliberate brushstrokes to bring depth and emotion to the portrait. The composition highlights Malcolm X’s intellectual intensity, with his hand raised to his temple in a gesture of thoughtful resolve, a pose often associated with his sharp insight and determination. The warm and dynamic palette underscores his fiery passion and enduring impact as a leader and advocate for Black empowerment. This work reflects Davis’s commitment to honoring cultural icons with powerful visual storytelling. View here.
Bibliography
- Malcolm X and Alex Haley.The Autobiography of Malcolm X. Ballantine Books, 1965.
- Provides foundational insights into Malcolm X’s philosophy of self-reliance, Black nationalism, and his transformation toward a global perspective on human rights.
- Manning Marable.Malcolm X: A Life of Reinvention. Viking Press, 2011.
- A comprehensive biography that examines Malcolm X’s political evolution, his founding of the Organization of Afro-American Unity, and the circumstances leading to his assassination.
- Clayborne Carson.Malcolm X: The FBI File. Carroll & Graf Publishers, 1991.
- Analyzes declassified FBI files to uncover government surveillance and interference in Malcolm X’s life and work.
- Kwame Ture and Charles V. Hamilton.Black Power: The Politics of Liberation in America. Vintage Books, 1967.
- Discusses the importance of economic empowerment and self-determination in the context of Black liberation.
- Huey P. Newton.Revolutionary Suicide. Penguin Books, 1973.
- Chronicles the formation and impact of the Black Panther Party and its connection to Malcolm X’s philosophies.
- Keeanga-Yamahtta Taylor.From #BlackLivesMatter to Black Liberation. Haymarket Books, 2016.
- Explores modern iterations of the Black liberation struggle and the economic challenges faced by Black communities.
- Thomas Shapiro.Toxic Inequality: How America’s Wealth Gap Destroys Mobility, Deepens the Racial Divide, and Threatens Our Future. Basic Books, 2017.
- Examines the systemic factors contributing to racial wealth gaps and the projected decline in Black wealth by 2053.
- Angela Y. Davis.Freedom Is a Constant Struggle: Ferguson, Palestine, and the Foundations of a Movement. Haymarket Books, 2016.
- Links global liberation movements with the fight for Black economic and political autonomy.
- W.E.B. Du Bois.The Souls of Black Folk. A.C. McClurg & Co., 1903.
- Provides historical context for understanding the economic and cultural challenges faced by Black communities.
- U.S. Census Bureau Reports on Wealth Inequality (2022).
- Offers statistical data on the racial wealth gap and projections for Black household wealth.
- Economic Policy Institute (EPI) Reports (2023).
- Discusses systemic economic disparities and the urgency for targeted interventions to reverse wealth decline in Black communities.
- Black Panther Party 10-Point Program.
- Foundational document outlining the party’s demands for economic justice, community programs, and systemic change.
- UN Human Rights Council Resolutions on Racism and Inequality (2021).
- Highlights the historical importance of Malcolm X’s push to bring human rights charges against the U.S. to the international stage.
- National Urban League.State of Black America 2023.
- Provides current statistics on Black economic and social progress, as well as ongoing disparities.