Dr. Boyce Watkins, a popular and often controversial columnist and financial advisor, has never been shy in delivering his comments on the state of the Black community. Dr. Watkins aimed his attention on the buying and selling Air Jordans, which he says creates a “trade deficit” in the Black community.
Watkins isn’t the first person to rail against the Air Jordan brand, but his approach to how sneaker culture has some benefits is refreshing as it doesn’t flat out bash the practice of buying Air Jordans or other high-end shoes.
“I don’t even have an issue with people who buy Jordans to look good. If that’s the style, there’s nothing wrong with that,” said Watkins.
He adds, “There’s nothing wrong with consumption in itself. The problem is when you’re only thinking about consumption and thinking very little about investment and production. You don’t have to be a miser in order to build your wealth.”
Watkins continues by saying that the same passion buyers of Air Jordans have for the sneakers should be applied in investing or creating their own business or revenue streams. He then explained the concept of trade deficit, which simply means a consumer is buying far more product from an entity instead of making moves to sell back themselves.
“The problem with the Black Community is that we are at a trade deficit. The amount of money we are putting into other people’s communities does not match the amount they are putting into ours,” said Watkins.
Watch Dr. Boyce Watkins explain the economic impact of Air Jordans in the Black community in the clip below. Let us know if you agree with him or not in the comments.