WEkonomist is like the Costco of economic empowerment for the Afrikan diaspora.

Costco is a multi-national membership-only warehouse club that sells products to members at a discount. Since Costco orders large quantities of products from its vendors, it gets volume discounts for the items it buys. Costco forwards the savings, resulting in a discount for their members.

Inspired by their successful business model, we decided to mimic it. We applied this model to financial education and empowerment for the Afrikan diaspora. Thus, Wekonomist is a micro-multinational membership-only online club that sells financial education to our members at a discount.

Although we publish a digital magazine that exclusively focuses on economics, we offer an educational marketplace where members can access life-changing financial education. As students and teachers of financial history, we know that Afrikan descendants of slaves individually lack large amounts of capital. So we leverage the power of our community.

Denying access to resources to people of color on the basis of their income or capital has always been an effective strategy to prevent them from achieving economic stability. Dr. Martin Luther King said much more than his dream of judging his children by the content of their character rather than the color of their skin. He said, “When all is finally entered into the annals of sociology; when philosophers, politicians, and preachers have all had their say, we must return to the fact that a person participates in this society as an economic entity.” He also said that “the inseparable twin of racial justice [is] economic justice.”

Laws and racial covenants have already created unnecessary barriers for people of color to fully take part in their respective economies.  These barriers systematically prevent members of the Afrikan diaspora from accessing opportunities and engaging in wealth building activities.  Although we don’t completely remove the barriers to entry, we significantly lower them.

Instead of charging cost-prohibitive prices to access high quality financial education, we leverage our money as a collective to make the education affordable. By moving in solidarity as an economic entity, it directly benefits the community and the individual members within that community.  Wekonomist has established relationships with credible financial educators who love our people and want to empower our entire community.

To make sure that even the most income-sensitive members of our community have access to opportunity, we partnered with teachers who are willing to share their social capital. Social capital is necessary for economic mobility.

Social capital refers to the resources available to people and entities because of their networks. It should not be confused with networking nor nepotism. Networking and nepotism is about who you know. Social capital is the amount of resources you can access because of who you know. There are plenty of people who can name-drop, but their association to those individuals does not result in access to resources.

These individuals have large networks, but minimal social capital.  Since our financial educators are masters in their industry, they have a lot of social capital. They normally charge thousands of dollars for their knowledge and social capital, but Wekonomist members will never pay retail price for those benefits.


What WEkonomist Magazine is Not

The WEkonomist Magazine is NOT your average magazine, blog, or news outlet that highlights stories of racial injustice within the Black community. The leadership team recognizes that there is an overrepresentation of these stories in the media and a simultaneous underrepresentation of relevant economic teachings for the Black community.

That only leads us to conclude that publishing this type of content only results in sensationalism that keeps Blacks distracted from focusing on important economic topics and discussions. The WEKonomistMagazine team is always presented with ideas for articles to cover.

We ask ourselves five questions to help guide our decision-making for publishing content.

 

  1. Is this economically relevant?
  2. How will this educate, enlighten, or empower the community first?
  3. How will this educate, enlighten, or empower the individual next?
  4. How can this education, enlightenment, or empowerment be practically applied within the community?
  5. How can this education, enlightenment, or empowerment be practically applied for the individual?
If suggestions for articles cannot pass this five-question litmus, then they are typically not published within the magazine.

 

Our Core Objective:
  • Enlighten, Educate, Execute
  • We take a different approach to education.
  • Typically, “education” refers to learning how to participate in a specific system. What if the system doesn’t work for you? Then what?

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At WEkonomist, education = Frameworks, Formulas, and Functions. We simply don’t believe one system works for everyone. So, we are on a mission to expose our readers to a WORLD full of options.

We know that a man is only as honest as his options. This means that most people would make completely different choices if they knew they had those choices as options in the first place. The problem with the typical “educational” system is that it places someone else in a position of authority and he/she uses that authority to tell you what works best for you. In essence, you give away all of your power to someone else.

When you rely on someone else to present you with your options and education, you also give them the power to determine how far you will go. In the world of finance especially, individuals work in their own self-interest. This authority figure is only going to educate you on your options that will generate the most profit for them. Why on earth would they tell you about more lucrative options that don’t put money back in their pocket?

At WEkonomist Magazine, we make you aware of problems and then present you with options; that’s how we enlighten you.

Then we teach you Frameworks, Formulas, and Functions to carefully analyze those options and determine what works best for you; that’s how we educate you.

Then we instruct you on how to pursue some of the options presented; that’s how we encourage you to execute what you’ve learned.

Enlightenment, Education, and Execution are how we help you restore the power you have been trained to give away to others.

Our Team

Forerunner / Content Strategist

Takiyah Noble

Creative Director

Kevin Vain

Marketing Director

Jay Edmond

WEkonomist Designer

Rachel Knox


Illustrator

Lafe Taylor

African Business Specialist

Latrice Coleman

Affiliate Manager

Felice Ricks

WEkonomist Designer

Tamara Marlene