The claim that a dollar circulates within the Black community for only six hours has been widely circulated, but is it actually true? This myth has been debunked by TruthBeTold.news, an initiative out of Howard University’s Department of Media, Journalism, and Film in the School of Communications, which aims to fact-check claims about the African-American community.
The origin of this statistic seems to come from a self-help book titled “Talking Dollars and Making Sense: A Wealth Building Guide for African-Americans,” by financial planner Brooke Stephens. However, the book doesn’t seem to mention the name of the study, raising questions about the credibility of the source.
Economists contacted by TruthBeTold.news pointed out that the federal government does not produce data that would allow for such a comparison. Additionally, data about dollars circulating…
