Why Co-ops and Community Farms Can’t Close the Racial Wealth Gap
Circulating local dollars can’t create wealth when there’s not enough to begin with.
Residents of one Detroit historic neighborhood have been looking forward to next year’s opening of a food co-op. It will help bring to market produce from a community farm and is part of a larger community development project that will include a health food cafe, an incubator kitchen for food entrepreneurs, and space for events. The project expects to employ 20 people from the mostly low- to moderate-income area.
Twenty jobs may not seem like a lot when unemployment in the approximately 80 percent Black city is 8.7 percent, twice that of state and national rates. But this is what economic progress generally looks like in many Black communities: cooperative ventures such as grocery stores and ...