Wednesday, 26 October 2016
BLACK PANTHER's HUEY NEWTON ON BLACK CAPITALISM
Black Panther founder and leader, Huey Newton on Black Capitalism
“A part of the black bourgeoisie seems to be committed to developing, or attempting to develop, a form of capitalism within the black community, or the black colony as we call it. As far as the masses are concerned it would merely be trading one master for another. A small group of blacks with control our destiny if this development came to pass.
Such a notion is reminiscent of our earlier history when we had blacks slave masters. A small percentage of the blacks owned slaves; they were our first black bourgeoisie. But we have today are their spiritual descendents. And just as the earlier black slaveholders fail to alleviate the suffering of their slaves, so today the black capitalists (those few in existence) do nothing to alleviate the suffering of their oppressed black brothers.
But in a greater sense, black capitalism is a hoax. Black capitalism is represented as a great step toward black liberation. It isn’t. It is a giant strides away from liberation. No black capitalists can function unless the plays the white man’s game. Worse still, while the black capitalist wants to think he functions on his own terms, he doesn’t. He is always subject to the whims of the white capitalist. The rules of black capitalism, and the limits of black capitalism are set by the white power structure.”
- Huey P. Newton in Ebony Magazine, 1. August 1969, page 110