There are two things that have always haunted me: the brutality of the European traders and the stories I've heard about Africans selling other Africans into slavery.

It's not white versus black any more, it's haves versus have-nots. Unless the black middle-classes unite to promote the interests of the black underclass, tension between them is inevitable. What we, the black middle class have to do, is think of a strategy to avert that.

In America there is institutional racism that we all inherit and participate in, like breathing the air in this room - and we have to become sensitive to it.

The historical basis for the gap between the black middle class and underclass shows that ending discrimination, by itself, would not eradicate black poverty and dysfunction. We also need intervention to promulgate a middle-class ethic of success among the poor, while expanding opportunities for economic betterment.

The only people who live in a post-black world are four people who live in a little white house on Pennsylvania Avenue. The idea that America is post-racial or post-black because a man I admire, Barack Obama, is president of the United States, is a joke. And I hope no one will even wonder about this crazy fiction again.

Very few, if any, first-generation black or white or Asian kids will pursue a Ph.D. They'll pursue the professions for economic security. Many will go to law school and/or business school.