The University of Power & Wealth
Posted on April 23, 2012
By William A. Foster, IV
“Our success educationally, industrially and politically is based upon the protection of a nation founded by ourselves.” – Marcus Garvey
Many in the African American community believe that colleges and universities are simply there to educate a student so that they can go on to get a job. However, colleges and universities more than any part of our society are institutions of power and wealth creation more so than any other institution. I’d touched on some of the economics of universities previously in the article “Can African American Muscle save African America?” This is mainly because they, more than any other institutions, can touch all three parts of the SEP (social, economic, political) development model. Through their teaching they can influence the social aspects of a community by providing strong cultural identity. Through research they can create economic opportunities, and their research can also influence policy in local, state, and national governments.
“We must redirect our charity giving. A blog on African American giving I read recently said of our $11 billion we give annually to charities, $7 billion goes into churches. By making a concerted effort to redirect $2 billion of this would vastly improve the state of our HBCUs and should not dampen our religious institutions.”