This address to the Rosenwald Economic Conference in 1933 brings together in a single analytic frame the struggles of African Americans under relentless racial oppression in the United States and those of independent Black states such as Liberia and Haiti. Focusing on African Americans’ dire economic condition during the Depression, it argues that even if they were able to found an independent state they would be unable to escape the domination of concentrated capital. While expressing admiration for communism in Russia, it rejects the Communist Party in the United States as ill-equipped to tackle the role of racism in maintaining African Americans’ economic privation. It proposes instead that African Americans resist participating in the white American economy and pioneer an economic revolution consisting of non-profit industry; collectively funded provision of services, especially medical and legal; and “intelligent cooperating consumers” committed to buying only goods produced by fairly compensated labor.