CAPITAL IN THE TWENTY-FIRST CENTURY

Yesterday, as I began reading chapter 2 in CAPITAL IN THE 21ST CENTURY by Thomas Piketty,(2014), the word "convergence" and the phrase "catching-up" leaped out at me from the text. These words relate especially to the African American economy, even though his context was international, describing Europe and America on one hand, as those in front, and the nations of Asia, as those that are catching-up. What I found interesting was that it was not capital injections from the "West" which were promoting this economic convergence of nations, but indigenous capital raised in situ, and recycled into the Asian nations' production of goods and services that was fueling the "catching-up" phenomenon.process. Thus, the moral of the story for African Americans and for Africans is to eschew SBA loans, IMF and World Bank traps and fetters, and to do as the Asians have done and are doing. That is, to redirect the flow of your capital from out to in; from them to you; by organizing catch-basins that are responsive to, you not to them.