black economic history

Dr Boyce Watkins: Why corporate America doesn’t want you to be financially literate

Dr Boyce Watkins: Why corporate America doesn’t want you to be financially literate

by Dr Boyce Watkins

I’ve been asked, “Why don’t schools teach financially literacy?”  It would seem that this would be a logical thing to do, since we are going to make financial decisions every single day for the rest of our lives.  But despite this glaring reality, and the fact that we live in a capitalist society, public schools almost never give children what they need in order to know how to properly manage their money.

Here’s what I truly believe:  Corporate America doesn’t want you to be financially literate, and neither do our government officials.  The reason is that a) Corporate America pretty much runs our government since politicians are now being bought by corporations on a regular basis, and b) consumer spending is a huge economic driver for the American economy.  Therefore, when you drop your money, they are able to keep the economy afloat and growing by leaps and bounds.

So, the bottom line is that the government doesn’t want you to be financially literate for the same reason that it doesn’t want you to understand what you’re eating.  If you suddenly become conscious of the massive amounts of sugar that we consume on a daily basis, it would be far more difficult for corporations (who run the government) to fool you into eating food that is going to give you diabetes and heart disease 10 or 20 years from today.

Final translation: An uninformed, uneducated person always makes for a better target. They DON’T want you to be empowered, especially if you happen to be black.

This video explains more.  It’s a clip from my new film, “The Commandments of Black Economic Empowerment.”  The film is part of my Black Wealth Bootcamp lecture series that will be launched within the next few weeks.   You can find out more about both at BoyceWatkins.com.

You can either watch the video below or download the podcast.

Dr Boyce Watkins is a Finance PhD and creator of the Black Wealth Bootcamp.   He’s taught at several major universities, including The University of Kentucky, Indiana University, The Ohio State University, The University of Rochester and Syracuse University.  To find out more about the Black Wealth Bootcamp, please click here. 

  • black economic history

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