Dr. Claud Anderson is the current president of PowerNomics Corporation of America , Inc. The Harvest Institute, and WaterLand Fisheries, Inc. PowerNomics is a corporation that facilitates major business development, focusing on inner cities. PowerNomics is also a social-political-economic concept developed by Dr. Anderson that examines race and offers specific principles, strategies and activities for Black America to change behavior, establish accountability, and achieve unity of purpose in a way that allows for self-sufficiency and the ability to compete economically as a group. Dr. Anderson is widely recognized as one of the country’s most influential intellectuals and authors.
In his book, PowerNomics, Dr. Anderson draws on his experiences as an academic researcher, businessman, and federal and state politician to discuss how this can and must be accomplished through a five-year national plan involving education, economics, politics, and black religious organizations. The motivation for developing the plan lies in the fact that despite the fact that black people make up America’s only non-immigrant group and the fact that they were present in America before 98 percent of all immigrant groups, blacks are at the bottom of every economic, social, health, and political indicator.
One of the ways the black community can improve their economic situation is to make sure that black businesses are able to efficiently harness the buying power of the black community. One of the major contributors to the success of Black Wall Street in the early 1900s was the fact that a dollar would circulate within the community 36 to 1,000 times before being spent elsewhere, sometimes staying within the community for more than a year. In the following video, Dr. Anderson discusses how businesses can successfully market their products and services to black consumers and improve the economic standing of the black community.