By: Laura Hazard Owen – Nieman Lab
In December, NewsOne, a news platform aimed at African-American audiences, published a story with the headline “Buying Black: The Lifespan of a Dollar in African-American Communities Is Six Hours.”
The story went on to cite Brooke Stephens, author of a book that argues that African Americans need to spend more money at local black businesses. “The lifespan of a dollar in the Asian community is 28 days, in the Jewish community the lifespan of a dollar is 19 days,” the article said.
But where did that factoid, which has been recycled over the years, even come from? Is it actually true?