Posted on 03/25/2017 3:17:18 PM PDT by 2ndDivisionVet
For some descendants of persons held in U.S. chattel bondage, no monetary sum can compensate for the enslavement of their ancestors. However, for those looking for a number, there are various ways to calculate the value of involuntary servitude. Here’s one of them.
Calculating Reparations: $1.5 Million for Each Slave Descendant in the U.S.
by Denis Rancourt
This article previously appeared on Mr. Rancourt’s web site, Activist Teacher.
“This calculation includes only the money due to ancestors and their descendants, in terms of the stolen actual labor counted in person-hours.”
It is not difficult to calculate a MINIMUM amount of monetary reparation due to every single Black slave descendant living today in the USA.
If we leave out the reparations for physical violence, genocidal stress, inadmissibility to superior social classes, etc., and only take into account the stolen labor, at the today's equivalent minimum wage, then the calculation for the minimum amount due to the descendants of slaves is a simple one, as follows.
This calculation includes only the money due to ancestors and their descendants, in terms of the stolen actual labor counted in person-hours, based on a minimal economic value of that labor, adjusted at a lowest reasonable rate of interest.
Every step in the following calculation will use the lowest possible evaluators, such as to produce a MINIMUM amount due.
In the 70 year period between 1790 and 1860, there were, on average, 2 million slaves at any time in the USA. In the same period the average US population was 14 million.
Moving forward to 2000, the US population was 309 million, with 40 million slave descendants.
“We adopt the underestimate of 2% for the interest rate to be applied to the stolen income value.”
To obtain a minimal (under estimated) annual interest rate, we use the population increase from 14 million to 309 million in the 140 years from 1860 to 2000. This gives a population annually growth rate of 2.2%.
Now capital value increase interest rates in the US have been much greater that the population growth rate. Nonetheless, we adopt the underestimate of 2% for the interest rate to be applied to the stolen income value. We further apply the interest rate starting only in 1860, rather than earlier, thereby making our estimate even more of an under estimate.
The value of the stolen labor, for the period 1790 to 1860, at today's US minimum wage of $7.24 per hour is as follows. (Note that using today's minimum wage automatically corrects for valuing the historic currency to its present value.)
70 years (1790 to 1860 period only)
X
2 million slaves (average number in the period used)
X
365 days per year (OK, maybe I should exclude one day off per week?)
X
10 hours of work per day (again a minimum)
X
$7.25 per hour
=
$ 3.7 trillion
Next, I apply the 2% interest rate (compounded annually). This gives a multiplicative factor of (1.02)^140 = 16, for the 140 years from 1860 to 2000. Further compounding could be applied to bring us to the present. (Again, this is a minimum estimate.)
Compounding to 2000, therefore, gives:
$ 3.7 trillion
X
(1.02)^140 (or 16, if you prefer)
=
$ 59.2 trillion
The latter one-time payment would be easy for the USA to make, since its annual GDP is $15 trillion. (Think of a wealthy person's annual salary relative to buying a house in a safe neighbourhood.) The USA would not even need to sell any assets to achieve this modest payment.
For the 40 million Black slave descendants in the US today, the calculated reparation means that US white society owes each and every Black slave descendant a MINIMUM payment of $ 1.5 million, which is long overdue.
“The USA would not even need to sell any assets to achieve this modest payment.”
After the minimum payment is made, it would be appropriate to calculate and pay the addition reparations that are due.
My goal here was to show that these calculations are simple and unambiguous. Understanding the calculated minimum allows one to move forward from that established basis, towards a more realistic reparation number. At the very least, each Black slave descendant can legitimately demand $ 1.5 million payable immediately.
An obvious question that arises from this straightforward calculation is: Why are Black leaders not demanding reparation, as a priority demand?
Denis Rancourt is a former physics professor at the University of Ottawa, and is the author of the book "Hierarchy and Free Expression in the Fight Against Racism." More essays by this author are HERE.
It’s been paid via the “great society/war on poverty” programs to the tune of $22 trillion since its enaction 52 years ago. Unfortunately there’d be mass revolt if the handouts were terminated
about $1.8 trillon.
Should it be awarded it would be spent by next Saturday night.
And out slow, sliding deflation would be remediated.
Who did the “Calculating” ?
Valerie Jarrett?
Obama?
Soros?
Maxine Waters?
Eric Holder?
Van Jones?
MSNBC?
The NY TIMES?
The SPLC?
de Blasio?
Elijah Cummings?
Hank Johnson?
The new black panthers?
Reverend “God Damn America” Wright?
The ACLU?
Mumia?
Tookie Williams?
The Nation of Islam?
Louie “Bow Tie” Farrakhan?
Jessie “Hymietown” Jackson?
Harvard University?
Rachel Maddow?
Saturday Night Live?
Dan Blather?
Tom Brokejaw?
Howdy Doody’s son (Ted Koppel)?
What about the thousands of blacks who owned slaves?
My ancestors were slaves. My other ancestors owned slaves. Hold on; I’ll write myself a check.
Not even a nice try.
Considering how much Americans have dished over and wasted in $ Trillions $ on blacks with welfare, “community improvement programs”, prisons, their schools, their colleges, and now the hiring process where unqualified candidates get hired over 2 or 3 qualified candidates - based on race...I’d say we’ve wasted enough money and time even debating this.
The losers and clowns that keep pushing this just want to keep whitey on the hook for their own failures and lack of adaptability to the modern world.
Darwin’s law eventually does pan this little problem out.
See Haiti for any references. Oldest “Black Republic” and still a basket case over 200 years later.
I have no problem with paying reparations to descendants of slaves.
I just think that the reparations should be paid ENTIRELY by the Democrat Party, which should be completely liquidated to provide the funds.
And also, there should be a fine for every registered democrat in America, which would go towards reparations.
Fair is fair. Why is America always blamed for slavery, while the Democrat Party — the Party of Slavery, Segregation and Jim Crow gets off scott-free.
Let’s put the blame where it belongs, and collect the damages from the guilty party.
We have already spent far more than that on welfare.
If they want to be fair (but they don't), they should subtract the fair market value of the increase in standard of living of black descendants living in the US over the standard of living in Africa. They would wind up owing white folk for the favor done to their ancestors.
It amounts to trolling.
My DNA test says I’m 2% North African. Will that work?
Don’t forget the large population of free blacks at the time.
Also, the original blacks brought here were bond slaves/indentured servants who were brought here from the start of colonization. Many of those were white. One of my ancestors was an indentured servant and another brought over an indenture. The indenture was served out and then they were free, usually with a skill, given a plot of land and a sum of money to go their own way.
How will some prove that their ancestors were not freedmen or freed indentures?
My family came over from Germany in 1870 with nothing but an accordion and $10. Great Grand Pa Hallebush got a job at a Church and wrote several hymns. Churches were the record companies back in those days if you think about it.
So I am sorry for that part of our history, where need for slaves was replaced with agriculture machinery, But we got thru it and you became citizens who can vote and work hard like the rest of us and improve you lot in life. My WW2 Dad defined success as, did you live better than you did at home? Well I did, how about you. Folks gave be an education and I applied it.
Long story short. I don’t owe you anything.
Unbeknownst to you, I guess, there’s a large movement here and elsewhere for this, including government officials, businesspeople, NGOs, celebrities, academia and the world government.
Should have subtracted the value of food/housing/clothing provided to the slaves (which was probably superior to what they had back in Africa).
And, half the total, whatever it may be, should rightly be assessed to the (primarily Muslim Arabs) who sold them into slavery originally.
Either way,debt repaid.
Prove that I was here when your slave relative was enslaved
As the son of legal immigrants, one side of the family dates to the 1700s and the others to the 1890s-1913, can I get reparations for money wasted on illegal immigrants, on government redistribution scams, etc.? Seems my family has been penalized for being here legally, for surviving, and being successful.
I want two ponies. :)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.