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Don't know if this has been posted here before or not but I've decided to post it here for ready reference since someone decided to ask (by way of a thread) HOW MUCH?

quote:
Documenting the Costs Of Slavery, Segregation, and Contemporary Discrimination

Labor Stolen under Slavery

For some fifteen generations the exploitation and oppression of African Americans have redistributed income and wealth earned by black labor to generations of white Americans, leaving the former relatively impoverished as a group and the latter relatively privileged as a group. Consider just the value of the African American labor that was expropriated. The white owner's cost for maintaining an enslaved African American was generally very low, and under many circumstances large profits could be generated off the labor of such a subordinated worker (Du Bois 1992 [1935]). Larry Neal has calculated that the current (1983) value of the slave labor expropriated by whites from 1620 to 1865 ranges from about $1 trillion to as much as $97 trillion, depending on the rate of interest chosen (Swinton 1990: 156). James Marketti has estimated the dollar value of the labor taken from enslaved African Americans from 1790 to 1860 at, depending on the historical assumptions, from $7 billion to as much as $40 billion. Such a figure roughly indicates what black individuals and families lost in income because they did not control their labor.3 Marketti suggests that, if that stolen income is multiplied by taking into account lost interest from then to the present, the current (1983) economic loss (income diverted) for black Americans ranges from $2.1 to $4.7 trillion (Marketti 1990: 118).4 Updating these 1983 estimates places the current value of the diverted labor income in the trillions of U.S. dollars. Numerous white analysts have attacked the idea of white society owing such back wages for slavery; they argue that figuring out the debts of distant history is just too difficult (see Warren 1965: 434-35). Yet such an argument almost always fails to note that the damages done to African Americans did not end with slavery, but persisted for another one hundred years in the form of legal segregation and then for several more decades in present-day discrimination. The era of black enslavement was not followed by a century of justice and equality.

Labor Stolen under Segregation

After the Civil War, white southerners used terrorism for a few years to win a major goal of that war--the continued oppression of African Americans. Organizing Ku Klux Klan violence and other coercion, whites in all classes worked to deny the newly freed blacks access to land, credit, political power, and education (see Ransom and Sutch 1981: 150-51). There was much other racial discrimination, and soon legal segregation was established in all southern and some northern states. Significantly, government officials were involved in maintaining racial oppression. Under legal segregation, the economic losses for black Americans were again high. One research study estimated the cost of labor market discrimination for 1929-1969 (in 1983 dollars) at $1.6 trillion (Swinton 1990: 156). Calculating the cost of antiblack discrimination from the end of slavery in 1865 to the year 1969, the end of legal segregation, and putting that calculation into year-2000 dollars would likely increase that wage-loss estimate to several trillion dollars.

Continuing Theft of Labor Today

Since the end of official segregation black Americans have suffered additional economic losses. A number of economic studies have suggested how much African American workers annually lose from continuing discrimination and informal segregation in employment. For one year in the 1970s the estimate of the cost of continuing racial discrimination in employment has been put in the range of $94-123 billion (Darity 1990: 11). Estimating a dollar figure for the period since the end of segregation to the present day would doubtless bring this figure of lost income and purchasing power from continuing discrimination to another several trillion dollars.

William Darity reminds us that what blacks lose whites often gain:" These are pretty good calculations, but they are all made on the assumption that if racial discrimination were eliminated everything else would be much the same. Discrimination appears as a deadweight loss to all Americans. No attention is given to the interdependence between the incomes of blacks and whites, and the possibility that the incomes of whites are higher because the incomes of blacks are lower" (Darity 1990: 11). Thus, one can see much of these dollar figures as added and undeserved income for white Americans.

Clearly, the sum total of the worth of all the black labor stolen by whites through the means of slavery, segregation, and contemporary discrimination is staggering--many trillions of dollars. The worth of all that labor, taking into account lost interest over time and putting it in today's dollars, is perhaps in the range of $5 to $24 trillion...




Information from the WITH ALL DELIBERATE SPEED Files:

  • At the slow rate that the Black-white poverty gap has been narrowing since 1968, it would take 150 years, until 2152, to close.

  • For every dollar of white per-capita income, African Americans had 55 cents in 1968 – and only 57 cents in 2001. At this pace, it would take Blacks 581 years to get the remaining 43 cents.

  • While white homeownership has jumped from 65% to 75% since 1970, Black homeownership has only risen from 42% to 48%. At this rate, it would take 1,664 years to close the homeownership gap – about 55 generations.
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quote:
Originally posted by Nmaginate:
Don't know if this has been posted here before or not but I've decided to post it here for ready reference since someone decided to ask (by way of a thread) HOW MUCH?

quote:
http://www.millionsforreparations.com/feagin.html

Labor Stolen under Slavery

For some fifteen generations the exploitation and oppression of African Americans have redistributed income and wealth earned by black labor to generations of white Americans, leaving the former relatively impoverished as a group and the latter relatively privileged as a group. Consider just the value of the African American labor that was expropriated. The white owner's cost for maintaining an enslaved African American was generally very low, and under many circumstances large profits could be generated off the labor of such a subordinated worker (Du Bois 1992 [1935]). Larry Neal has calculated that the current (1983) value of the slave labor expropriated by whites from 1620 to 1865 ranges from about $1 trillion to as much as $97 trillion, depending on the rate of interest chosen (Swinton 1990: 156). James Marketti has estimated the dollar value of the labor taken from enslaved African Americans from 1790 to 1860 at, depending on the historical assumptions, from $7 billion to as much as $40 billion. Such a figure roughly indicates what black individuals and families lost in income because they did not control their labor.3 Marketti suggests that, if that stolen income is multiplied by taking into account lost interest from then to the present, the current (1983) economic loss (income diverted) for black Americans ranges from $2.1 to $4.7 trillion (Marketti 1990: 118).4 Updating these 1983 estimates places the current value of the diverted labor income in the trillions of U.S. dollars. Numerous white analysts have attacked the idea of white society owing such back wages for slavery; they argue that figuring out the debts of distant history is just too difficult (see Warren 1965: 434-35). Yet such an argument almost always fails to note that the damages done to African Americans did not end with slavery, but persisted for another one hundred years in the form of legal segregation and then for several more decades in present-day discrimination. The era of black enslavement was not followed by a century of justice and equality.

Labor Stolen under Segregation

After the Civil War, white southerners used terrorism for a few years to win a major goal of that war--the continued oppression of African Americans. Organizing Ku Klux Klan violence and other coercion, whites in all classes worked to deny the newly freed blacks access to land, credit, political power, and education (see Ransom and Sutch 1981: 150-51). There was much other racial discrimination, and soon legal segregation was established in all southern and some northern states. Significantly, government officials were involved in maintaining racial oppression. Under legal segregation, the economic losses for black Americans were again high. One research study estimated the cost of labor market discrimination for 1929-1969 (in 1983 dollars) at $1.6 trillion (Swinton 1990: 156). Calculating the cost of antiblack discrimination from the end of slavery in 1865 to the year 1969, the end of legal segregation, and putting that calculation into year-2000 dollars would likely increase that wage-loss estimate to several trillion dollars.

Continuing Theft of Labor Today

Since the end of official segregation black Americans have suffered additional economic losses. A number of economic studies have suggested how much African American workers annually lose from continuing discrimination and informal segregation in employment. For one year in the 1970s the estimate of the cost of continuing racial discrimination in employment has been put in the range of $94-123 billion (Darity 1990: 11). Estimating a dollar figure for the period since the end of segregation to the present day would doubtless bring this figure of lost income and purchasing power from continuing discrimination to another several trillion dollars.

William Darity reminds us that what blacks lose whites often gain:" These are pretty good calculations, but they are all made on the assumption that if racial discrimination were eliminated everything else would be much the same. Discrimination appears as a deadweight loss to all Americans. No attention is given to the interdependence between the incomes of blacks and whites, and the possibility that the incomes of whites are higher because the incomes of blacks are lower" (Darity 1990: 11). Thus, one can see much of these dollar figures as added and undeserved income for white Americans.

Clearly, the sum total of the worth of all the black labor stolen by whites through the means of slavery, segregation, and contemporary discrimination is staggering--many trillions of dollars. The worth of all that labor, taking into account lost interest over time and putting it in today's dollars, is perhaps in the range of $5 to $24 trillion...




http://www.faireconomy.org/press/2004/StateoftheDream2004_pr.html

+ At the slow rate that the Black-white poverty gap has been narrowing since 1968, it would take 150 years, until 2152, to close.

+ For every dollar of white per-capita income, African Americans had 55 cents in 1968 – and only 57 cents in 2001. At this pace, it would take Blacks 581 years to get the remaining 43 cents.

+ While white homeownership has jumped from 65% to 75% since 1970, Black homeownership has only risen from 42% to 48%. At this rate, it would take 1,664 years to close the homeownership gap – about 55 generations.


Twenty-four trillion is WAY TOO LOW! Quadruple it and begin negotiating from there! Bankrupt white America and start all over! Razz
quote:
Originally posted by EgbertSouse:

Twenty-four trillion is WAY TOO LOW! Quadruple it and begin negotiating from there! Bankrupt white America and start all over! Razz
White America already is bankrupt. That's like what Reparations is partly about. Or at least why there's so much crying and nashing of teeth.

Fear and guilt make people say the darnest things.

"They're trying to break us!"
"Don't you care about the economy?"

Can't say that the excuses lack a certain sense of creativity. But I guess Projectional Anxiety will do that for ya!

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