Marcus Garvey (1887–1940) was an international leader of African liberation, a pan-Africanist, and one of the founders of the modern Black nationalist movement. His teachings and ideas influenced countless generations of African peoples everywhere, including influencing economic practices and strategies. This report examines the impact of Marcus Garvey on global economics, both during his lifetime and in the decades since.

During his lifetime, Marcus Garvey inspired a massive wave of Black self-empowerment and economic freedom. Garvey’s Universal Negro Improvement Association (UNIA) endorsed a “Back to Africa” movement that popularized the idea of repatriation for African Americans in the United States, with hundreds of thousands of members across the US, South America, and the Caribbean. According to historical experts, Garvey’s “far-reaching” movement provided “visions of African unity and solidarity” invigorating people in the West Indies, South America, and Africa to create cooperative business structures and communal projects.

Garvey was also an early proponent of Black economic enterprise. He advocated for the creation of “Black industrial, agricultural, commercial and financial organizations” that could compete with the large monopolies and trusts of the day. Garvey launched the 1922 Black Star Line—the only Black-owned and operated steamship line—which provided Black people with a means of obtaining supplies, education, and resources around the world. He also founded the Black Trade Union convention and established several other publications and businesses, all of which promoted Black economic self-sufficiency and aided Black people in establishing businesses and controlling their own economic destiny.

The economic impact of Garvey’s work is still evident today. His organizations like the UNIA still exist and continue to advocate for Black economic independence and redistribution of resources. The Black Star Line inspired early organizations promoting Black business and the cooperative and entrepreneurial spirit Garvey cultivated continues in many of today’s African Diaspora countries. Garvey’s movement and organizations have also provided a platform to facilitate aid and resources among African nations and to organize pooling of communal resources to address global economic issues.

In conclusion, Marcus Garvey was a revolutionary Black leader who influenced economic practices in both the United States and Africa. His “Back to Africa” movement inspired self-reliance and encouraged pooling of resources among African Americans seeking economic independence.