By Musa T Bey

Capitalism, as a dominant global economic system, has shaped the social, political, and economic structures of societies for centuries. Its foundations rest upon private ownership of the means of production, competitive markets, and the pursuit of profit. While capitalism has generated immense wealth and technological advancement, it has also produced deep economic inequalities, particularly along racial and class lines.

Black Marxism, a critical framework developed by Cedric Robinson, challenges the Eurocentric understanding of Marxist theory by demonstrating how racial capitalism—the integration of racism into capitalist systems—has uniquely oppressed Black people worldwide. Robinson argued that traditional Marxism failed to account for the ways racial hierarchies were embedded in economic exploitation, making Black struggles distinct from the broader class struggle.

In exploring the intersections of capitalism, Black Marxism, and social balance, we must examine how racial capitalism has perpetuated systemic oppression, analyze the ways in which Black Marxism critiques both capitalism and classical Marxist thought, and consider alternative pathways toward social balance and justice.

Capitalism and Its Contradictions

Capitalism, in its most basic form, is characterized by the pursuit of profit, private property, and the commodification of labor. While it has driven innovation and economic expansion, capitalism has also exacerbated social inequalities. The system thrives on competition, which inevitably leads to winners and losers, with wealth increasingly concentrated in the hands of a few.

One of capitalism’s primary contradictions lies in the exploitation of labor. Karl Marx’s theory of surplus value posits that workers produce more value than they receive in wages, allowing capitalists to extract profit. This exploitation is particularly severe in marginalized communities, where systemic barriers limit economic mobility.

Moreover, capitalism has always been deeply entangled with race. The transatlantic slave trade, colonialism, and segregationist policies were all economically motivated systems designed to enrich the ruling class at the expense of Black labor. In the modern era, racialized forms of capitalism manifest through wage disparities, housing discrimination, and mass incarceration—forms of economic control that sustain white wealth while maintaining Black disenfranchisement.

Black Marxism: A Critique of Classical Marxism

While Marxism offers a powerful critique of capitalism, Cedric Robinson’s Black Marxism: The Making of the Black Radical Tradition argues that traditional Marxist theory fails to fully explain the oppression of Black people. Robinson’s concept of racial capitalism emphasizes that capitalism did not emerge as a race-neutral economic system; rather, it was built upon and continues to thrive through racial divisions.

Black Marxism diverges from classical Marxism in several key ways:

1. Racialized Class Struggle – Classical Marxism assumes that class struggle is the primary contradiction in capitalist societies. Black Marxism, however, asserts that racial oppression is not merely a byproduct of capitalism but a fundamental component of it. Black workers are not just exploited as proletarians; they are racialized and systematically excluded from economic and political power.

2. The Black Radical Tradition – Unlike the European proletariat, Black people’s struggles against capitalism have historically been intertwined with anti-colonial and anti-racist movements. From slave revolts to the Civil Rights Movement, Black resistance has often taken forms that extend beyond traditional Marxist analysis.

3. Rejection of Eurocentrism – Classical Marxism is rooted in European historical materialism, which assumes a linear progression of economic systems (from feudalism to capitalism to socialism). Black Marxism challenges this view by highlighting non-European forms of communalism and resistance that existed before capitalism and that continue to inspire Black liberation movements today.

Racial Capitalism and Social Imbalance

Racial capitalism manifests in contemporary society through several mechanisms:

• Wealth Disparities – Black households in the United States have a fraction of the wealth of white households due to centuries of slavery, segregation, and discriminatory policies such as redlining. The racial wealth gap ensures that Black families remain economically vulnerable.

• Mass Incarceration – The prison-industrial complex serves as a modern form of racialized economic exploitation. Black individuals are disproportionately criminalized, providing cheap labor for corporations while being stripped of their rights and economic opportunities.

• Gentrification and Displacement – Urban renewal projects and real estate speculation often push Black communities out of historically Black neighborhoods, further marginalizing them within capitalist economies.

• Global Exploitation – Black labor is not only exploited within the United States but also globally. Multinational corporations extract resources from Africa and employ cheap Black labor in exploitative conditions, mirroring the colonial economic systems of the past.

Towards Social Balance: Alternatives to Capitalism and Racial Oppression

If capitalism is inherently racialized and exploitative, how can societies move toward social balance? Several alternatives exist, though each faces significant challenges due to the entrenched power of global capital.

1. Economic Democracy – A shift toward worker cooperatives, community-owned businesses, and participatory economic models could redistribute wealth and decision-making power. Economic democracy challenges the profit-driven motives of capitalism by prioritizing human needs over corporate interests.

2. Reparations and Redistribution – Addressing the economic legacies of slavery and colonialism requires direct reparations for Black communities. This could take the form of financial compensation, land redistribution, or investments in Black-owned enterprises.

3. Socialism with an Anti-Racist Framework – While traditional socialism seeks to eliminate class divisions, a true challenge to capitalism must also dismantle racial hierarchies. A Black Marxist-informed socialism would prioritize racial justice alongside economic equality.

4. Abolitionist Politics – Inspired by W.E.B. Du Bois, Angela Davis, and contemporary abolitionists, the push to dismantle prisons, police forces, and other institutions of racial control is central to achieving social balance. By replacing punitive systems with restorative justice and community-led safety initiatives, societies can move away from racialized state violence.

5. Pan-Africanism and International Solidarity – Since capitalism is a global system, resistance must also be international. Pan-African movements, socialist alliances, and global labor solidarity can counteract the exploitative reach of racial capitalism.

Conclusion

Capitalism, as it currently functions, is inseparable from racial oppression. Black Marxism offers a necessary critique that expands classical Marxist thought to account for the realities of racial capitalism. As movements for racial and economic justice continue to grow, the pursuit of social balance must involve not just class struggle but also an explicit challenge to racial hierarchies embedded in the capitalist system.

Building a more just society requires moving beyond reformist approaches that merely soften capitalism’s harms. Instead, transformative change must address the roots of racial and economic exploitation, embracing alternative economic models, community-led initiatives, and global solidarity. Only then can we move toward a world where economic justice and racial equity are truly realized.