BOOK CORNER: Veteran author, analyst writes book about Black capitalism

Post to Entertainment and Book Corner with photo Earl Hutchinson Head Shot

By Marissa Wells

Contributing Writer 

“The Myth of Black Capitalism,” by Earl Ofari Hutchinson, is a thought-provoking book that unravels the history of “Black capitalist” rhetoric and the role it’s played in benefitting a tiny elite while disadvantaging many. 

“The book strongly argues that African Americans are still grossly under resourced, under represented and under numbered as major and mid-sized business entrepreneurs in America,” Hutchinson said. “This is due to a combination of rampant lender discrimination, tech and financial support inaccessibility, and promotion and staffing resources; the result Black capitalism is still a myth in America.”

The author was compelled to write this book due to the significance of the topic. 

“I felt it important for Blacks to understand not only the towering liabilities in becoming true major financial players in the capitalist system but how to acquire the assets to begin to have an impact in the mid and major business world,” he said.

Hutchinson is the author of numerous books and his writing delves deeply into race and politics.

He describes “The Myth of Black Capitalism” as a sort of “what and how to do” about capitalism. 

“It’s heavy on the history of the battle by Blacks to become viable Black business owners, managers and investors,” Hutchinson said. “I walk through the major roadblocks, but I also walk through the history of Black entrepreneurial successes.”

“The Myth of Black Capitalism” will be educational for readers. It is intended for those interested in social, political, and economic-themed books. 

“The purpose of the book is to provide a realistic and sober analysis of the nature of capitalism and how it has helped and hurt African-Americans financially and economically past and present,” said the author.

Hutchinson’s favorite part of his book is the section that addresses “the history of how Blacks were able to establish mutual aid societies, cooperatives, banks and insurance companies in the South during the height of legal segregation; and how those institutions still hold lessons about how Blacks can attain success in business despite the towering obstacles.”

In addition to being an author, Hutchinson is a media commentator, a columnist for The Wave and political analyst. He is the president of the Los Angeles Urban Policy Roundtable and the host of the Earl Ofari Hutchinson show on Pacifica-Radio.

“The Myth of Black Capitalism” is available for $19 (paperback) on Amazon. The book may also be ordered at Barnes and Noble.