Buying Black: Reinvesting in Community

Morgan Stanley Access and Opportunities Podcast hosted by Carla Harris
Mar 18, 2022 10:00 AM ET
Photo of Bernard Bronner, President and CEO of Bronner Bros.

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Money circulates nearly an unlimited number of times in white neighborhoods, but only once in African-American communities, according to the Selig Center for Economic Growth. On this episode, we ask: how can we keep the Black dollar circulating in Black communities for longer?

First, we hear from Bernard Bronner, President and CEO of Bronner Bros., the Black, family-owned beauty company behind the annual Bronner Bros. Hair Show. After losing their best-selling hair care product because they didn’t manufacture it themselves, the Bronners recognized the importance of ownership for sustaining not only the company, but the broader Black community. Then, host Carla Harris sits down with Maggie Anderson, author of “Our Black Year: One Family’s Quest to Buy Black in America’s Racially Divided Economy” to discuss her year-long journey to only buy Black. Through her lived experience and supporting data, Maggie unpacks the historical and ongoing factors that keep Black folks’ money leaking out of their economy. And she highlights opportunities that exist for Black entrepreneurs and consumers to reclaim the power of their dollar.

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