Black Entrepreneurship in America

At a time of rapid economic change in black American communities, this important study provides fresh thinking about black values, institutions and economics. Black Entrepreneurship in America defines the cultural context of economic changes taking place in this most critical segment of American life. It is well known that economic culture undergoes constant generation and regeneration, and with sufficient motivation, culture change; analysts also agree that entrepreneurship is the driving force behind sustained economic progress in modern industrial societies. This volume shows how black Americans can become equal participants in the American dream. To do this, the authors argue, they must overcome their former lack of participation, and galvanize the entrepreneurial potential of their own families and communities. This bold and pioneering effort outlines a strategy for translating the overall expansion of the American economy into specific modes of black economic development. As the authors emphasize, the impetus for change must come from within the black communities. Despite good intentions and a twenty-five fold increase in welfare spending since 1967, centrally designed and administered social programs have largely failed to strengthen the indigenous cultural institutions upon which economic advancement depends. Low levels of business growth have retarded savings, investments, and jobs within black communities. This book describes how public policy decisions can support community-based entrepreneurship. Solidly grounded, the conclusions are based on interview data, consultations with a wide variety of academic and business experts, and a thorough review of relevant literature. The book will be of great interest to social researchers and policy analysts interested in black studies and social and economic change.