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.”