SLAVERY REPARATIONS COULD COST UP TO $14 TRILLION

[cronus]

http://europe.newsweek.com/slavery-repa ... ion-331766

SLAVERY REPARATIONS COULD COST UP TO $14 TRILLION

In 1865, toward the end of the Civil War, Union Army General William Tecumseh Sherman promised slaves that they’d receive 40 acres and a mule. Land was even set aside, but the promise was recanted by President Andrew Johnson. Ever since, the issue of reparations has come up many times, often fiercely debated. Although most Americans generally don’t support reparations, according to University of Connecticut researcher Thomas Craemer, it matters greatly how the question is worded, who would get reparations and in what form. For example, the idea of reparations paid in educational benefits are more popular than others, Craemer says.

On the other hand, one of the cases often made against reparations is that it'd be impractically difficult to calculate how to fairly take and give so many years after the fact. But in a new paper, published in the journal Social Science Quarterly, Craemer makes the case that there are other examples of historical reparations paid many decades later after “damages” were incurred. He also has come up with what he says is the most economically sound estimate to date of what reparations could cost: between $5.9 trillion and $14.2 trillion.

Craemer came up with those figures by tabulating how many hours all slaves—men, women and children—worked in the United States from when the country was officially established in 1776 until 1865, when slavery was officially abolished. He multiplied the amount of time they worked by average wage prices at the time, and then a compounding interest rate of 3 percent per year (more than making up for inflation). There is a range because the amount of time worked isn’t a hard figure.

Previous estimates of reparations have ranged from around $36 billion to $10 trillion (in 2009 dollars), Craemer says. Those calculations mostly looked at wealth created by slaves as opposed to services provided, resulting in underestimates. Craemer believes that “the economic assumptions underlying [his method] are more sound” than those used in previous papers.

The paper also illustrates several historical examples in which reparations were paid, many decades later, despite being initially unpopular—showing that repayment of age-old claims is not without precedent.

(continued)

[laklak]

Another reason to vote for Trump.

[piscator]

I wonder what English reparations to the Irish would tally?

[Seth]

Fat fucking chance.

The only people to whom any reparations might be due would be those who actually suffered under slavery, of which there are exactly zero alive today to collect.

Your right to reparations dies when you die.

[pErvinalia]

Then your property rights should die when you die, and be returned to the state.

[MrJonno]

Then your property rights should die when you die, and be returned to the state.

Well yes unless you wish to leave your property to charitable institutions, ie a high inheritance taxes but I suspect as we get richer that policy will be less and less popular

[Hermit]

As if anything even remotely like it will ever happen. At most the powers that be will maybe raise $9,000,000 entirely through private contributions for a commemorative monument, utter some solemn sounding platitudes, declare a particular day of the year for reflection on the noble cotton pickers and declare all that a job well done.

[pErvinalia]

There's a similar thing been going on for a few years in Australia, I think. Some aboriginal wages were held in trust, but never paid out.

[Galaxian]

In 1865, toward the end of the Civil War, Union Army General William Tecumseh Sherman promised slaves that they’d receive 40 acres and a mule. Land was even set aside, but the promise was recanted by President Andrew Johnson.

https://www.youtube.com/watch?v=_wk-jT9rn-8



Yet more ultra-trendy dumb-fuck sociologist rationalizing. Where will it stop? Reparations back to the Iron Age? Or the Bronze Age? Perhaps the Stone Age?

What about reparations to the sheep & cows, or the chickens? Or the turkeys that you find in these useless "social science" departments at so-called universities that are infact centers of arty-farty ignorance & stupidity masquerading as the epitome of erudition & knowledge? (And fooling lots of sheeple with their hocus-pocus)

These fucktards think that the be-all & end-all of all value is money... nothing but capitalism. That's where the 14 Trillion $$$ rationale comes from.

But the means of redressing past wrongs is to simply correct them, so our future is fairer & more egalitarian

[cronus]

It seems fair to me. I've been waiting for a long time but as a indigenous Englishman it is so good to see a illegal breakaway colony begin to make amends for its past mistakes.

[pErvinalia]

Those with Neanderthal genes should get reparations from those without. They killed off a species!

[cronus]

Those with Neanderthal genes should get reparations from those without. They killed off a species!

Why not consider the dinosaurs? reparations and enduring defamation of character should bankrupt the modern era for thousands of years to come?

[pErvinalia]

The ancestors of dinosaurs aren't capitalists...

[JimC]

Those with Neanderthal genes should get reparations from those without. They killed off a species!

Why not consider the dinosaurs? reparations and enduring defamation of character should bankrupt the modern era for thousands of years to come?

We would have to pay the birds...

[Svartalf]

and stop eating them?