Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Black Wall Street was the name given to the affluent black community of Greenwood Avenue in Tulsa, Oklahoma (Jaynes, 2011). They generated a prosperous and self-sufficient business district amidst intense racism and segregation laws. Several upper class and middle class blacks lived and worked in the area with the town generating high black economic activity (Rogers, 2010). What began as a journey to Greenwood Avenue in Tulsa as servants, led the pioneering business owners to turn inward and produce their own society where most of the capital spent went back into the community.Such a closed community had its own economy. Black customers bought from black store owners. Black patients went to black doctors and so forth. This was because of the hatred whites felt at the time regarding blacks. Regarding the first domain and applying that lens into Black Wall Street, Fundamental Economics has 13 key concepts. Two of which can be used for the way black people prospered in Greenwood Avenue in Tulsa.
The two concepts selected from the Fundamental Economics domain are money and incentives. Money fueled the incentive to build businesses in Greenwood Avenue in Tulsa. When black customers and patients needed a place to go shop or receive medical care, they had to go somewhere. Whites, thanks to racism and segregation, kept blacks separated from their communities and...
Thus, black business owners and doctors created their own supply that incentivized black customers and patients to spend their money in key areas.
The second domain, economic growth, also several key concepts. The two that best pertain to Greenwood Avenue in Tulsa and Black Wall Street are economic growth and GDP. Economic growth was evident in Greenwood Avenue in Tulsa thanks to the businesses booming from a loyal and consistent customer base. Because the black business owners supplied their customers with the items they needed, it was a closed and prosperous economy. All the money spent in that area was reinvested.
GDP refers to Gross Domestic Product and is a measure of citizens' well-being. Although this applies to the national population, it can be placed in a local population. The GDP of the people in Greenwood Avenue in Tulsa was high. Many of the people in the town were at least middle class, with a decent segment reaching upper class level. Doctors and business owners were well-off and lived comfortably amidst economic turmoil in other areas of Tulsa and in general, the United States.
The next domain to explore is microeconomics and the two key concepts compatible with the Greenwood Avenue in Tulsa example are entrepreneurs and consumers. Consumers are people that pay for a product or service (Henning, 2016).…
Tulsa Race Riot: What Happened and Why In 1921, Tulsa, Oklahoma, like many other American cities, was a hotbed of racial tension and the Ku Klux Klan was large, accepted and active in "keeping blacks in their place." Although Jews and Catholics were also targeted, African-Americans were far and away their primary targets. Blaming these minorities for the mainstream society's problems was a simple answer to a complex problem. The
Black Monday - 1987 On Monday, October 19, 1987, the Dow Jones Industrial fell 508 points -- which meant that it lost 22.6% of its value -- which was an unprecedented fiscal calamity at that time. This paper delves into that frightening dive, into the reasons why it happened, and looks into the possibility that it could happen again. Why did it happen? In January, 1987, the Dow Jones Industrials gained 13.8%, according
Black Rock Industries History of the Firm BlackRock, Inc., the world's largest financial asset and management company, began in a one-room office in New York in 1988. BlackRock, which began under the name of BlackStone Financial Management, was led by Larry Fink and a team of seven others: Keith Anderson, Benett W. Golub, Charles Hallac, Robert S. Kapito, Barbara Novick, Ralph Schlosstein, and Susan Wagner. All were unified by their desire to
Black Lives Matter is a social movement facilitated by social media, which critiques multiple forms of injustice and disparity. The movement can be viewed as the latest in a string of attempts to achieve racial parity and universal civil rights in the United States, but has been more narrowly defined by the movement's concern with race-based police brutality and racialized violence. Beneath this oversimplification of the Black Lives Matter movement
Street Gangs and Loitering Laws Los Angeles politicians have recently come together behind a proposed city ordinance that would allow police to arrest loitering street gang members. Mayor James K. Hahn, voiced his support for this new weapon in the battle against gang violence and drug trafficking. "Law abiding citizens shouldn't be afraid to go get a carton of milk at night," he said. "This ordinance will put gang members on
Goffer made over $300,000 from the illegal deal. As the case expanded, 13 others were also charged. Altogether, they had acquired approximately $40 million or more in profit during the years 2006-2009 (Krantz). And the list could go on and on. Conclusion - How Does Illegal Insider Trading Affect the Market and Economy? Unfair advantage. Violation of transparency. Disruptive of a properly functioning market. Investors no longer invest. It begins with