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The Tooth-Fairy Economics of Slavery Reparations
American Institute for Economic Research ^ | March 7, 2023 | David R. Henderson

Posted on 03/14/2023 8:18:51 AM PDT by Wuli

The reparations movement has gained tremendous ground in recent years by offering promises of compensation to the descendants of slavery’s victims in the United States. The proposal forms the centerpiece of the New York Times 1619 Project, which is now a multi-million-dollar docuseries on the Hulu streaming service. A reparations task force in San Francisco recently recommended $5 million payments to African-American residents, and several Democratic members of Congress have pressed the Biden administration to prioritize the same cause at the federal level. Reparations have even made their way into children’s programming, with a recent episode of the Disney cartoon “The Proud Family” depicting them, angrily and self-righteously, as society’s obligation to African-Americans.

The rhetoric around these proposals often adopts a moralizing tone about restitution for past injustices, many of which are all too real. As a matter of economics, though, reparations advocates offer surprisingly little in the way of viable solutions. If the US government tried to implement the reparations program that the 1619 Project espouses, we would get huge increases in both taxes and inflation. Yet the key economist advising on this proposal denies that any taxes would have to increase.

In the climactic conclusion to the Hulu series, 1619 Project creator Nikole Hannah-Jones explains that “reparations is not just about slavery, but about decades of government-backed legal apartheid deployed against the descendants of the enslaved.” As we pointed out in “The 1619 Project Vindicates Capitalism,” in the Wall Street Journal on February 22, 2023, “almost every example presented is the result of government policies that, in purpose or effect, discriminated against African-Americans.” The particular interventions we highlighted were eminent domain, racial redlining of mortgages, and enforcement of union monopolies that excluded black people.

(Excerpt) Read more at aier.org ...


TOPICS: Business/Economy; Constitution/Conservatism; Culture/Society; Government
KEYWORDS: 1619project; blackkk; blackliesmanors; blackliesmatter; blacklivesmatter; blm; criticalracetheory; crt; inflation; nationaldebt; reparations; slavery
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How, in addition to being wrong headed, "reparations" is not economically viable.
1 posted on 03/14/2023 8:18:51 AM PDT by Wuli
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To: Wuli

“How, in addition to being wrong headed, “reparations” is not economically viable.”

Doesn’t matter. White people have been taught to lothe themselves to the extent that they’ll accept nearly anything in an attempt to recover some virtue.

I always wondered why Jewish people put up with the abuse in Nazi Germany. Now, we get to witness a similar scenario play out before us. I see no indication that white people will do anything but capitulate.


2 posted on 03/14/2023 8:22:37 AM PDT by brownsfan (It's going to take real, serious, hard times to wake the American public.)
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To: Wuli

To keep blacks unquestioningly on their political plantation, the Left must have non-stop campaigns promoting agitation anger and benefits.

Non-stop fear, carrots and sticks.


3 posted on 03/14/2023 8:22:39 AM PDT by PGR88
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To: Wuli

Whoa, whoa , WHOA! You’re harshing my buzz here, man. Kalifornyuh is projecting 5 million dollars for every black person! NOW, I identify as black. I’m disavowing my white Caucasian parents that bore and raised me. So, now I’m not only black but a recent orphan and I’m entitled to my 5 million dollars. Don’t get between me and my paycheck.


4 posted on 03/14/2023 8:23:58 AM PDT by BipolarBob (The rumor has not been confirmed until the FBI officially denies it.)
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To: Wuli

Handout is becoming art


5 posted on 03/14/2023 8:24:02 AM PDT by Lee25 ( )
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To: Wuli

Slavery was mainly a private matter.

Redlining was mainly a private matter.

Until the 1930s, mortgages were limited to 50% of value typically.


6 posted on 03/14/2023 8:24:04 AM PDT by Brian Griffin
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To: Wuli

The Corporations have figured out how Reparations will make them more profits.

Chappelle called it!

https://www.youtube.com/watch?v=x8LroCgg3uc


7 posted on 03/14/2023 8:24:21 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: Wuli
"Reparations" is theft.

The people advocating for it are thieves.

8 posted on 03/14/2023 8:25:29 AM PDT by flamberge (Everybody is gonna hate it when we all play by the same rules.)
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To: Wuli

There is one organization in America that needs to be held accountable for the legacy of slavery - the Democratic Party. The Democrats recreated Slavery-lite with the Jim Crow laws after the Civil War. The Democrats used anti-black racial hatred to stay in power all the way up to the 1960s. Now they use anti-white racial hatred to maintain power. The party is a cancer on society and should be held accountable, whether its through reparations or something worse.


9 posted on 03/14/2023 8:29:44 AM PDT by Opinionated Blowhard (When the people find that they can vote themselves money, that will herald the end of the republic.)
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To: Wuli

American Indians practiced slavery long after the end for citizens, they should be front and center in the discussion.


10 posted on 03/14/2023 8:30:46 AM PDT by ansel12 (NATO warrior under Reagan, and RA under Nixon, bemoaning the pro-Russians from Vietnam to Ukraine.)
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To: Wuli

The stock market was and is color blind.


11 posted on 03/14/2023 8:33:29 AM PDT by Brian Griffin
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To: Wuli

Federal housing law enabled blacks to buy up housing cheap via blockbusting in the 1960s and 1970s.


12 posted on 03/14/2023 8:35:28 AM PDT by Brian Griffin
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To: Wuli

“Reparations” equals vote buying. LBJ all over again.


13 posted on 03/14/2023 8:35:36 AM PDT by Chgogal (Welcome to Fuhrer Biden's Weaponized Fascist Banana Republic! It's the road to hell..)
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To: flamberge

Its Theft and Extortion. The inherent implication in the demand for “reparations” is that there will be repeats of the 2020 “peaceful protests” that will cost business owners their livelihood again and/or violence against White people. The leaders of these organized groups making these extortionate demands are guilty of RICO violations. Extortion under threat of violence.


14 posted on 03/14/2023 8:36:50 AM PDT by jpp113
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To: Wuli

Why should Leroy, who has received government handouts starting from his first pre-natal visit, get a reparations check?


15 posted on 03/14/2023 8:37:01 AM PDT by Brian Griffin
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To: Wuli

Ancestors came as indentured servants. A few generations later, as dirt-poor but free farmers, volunteered for the Union Army. One joined at 16, leaving his widowed mother behind, and was a drummer for the duration of the war. Then he went back to being a dirt-poor farmer. Where’s my money???


16 posted on 03/14/2023 8:40:25 AM PDT by drwoof
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To: Wuli

.


17 posted on 03/14/2023 8:44:26 AM PDT by sauropod (“If they don’t believe our lies, well, that’s just conspiracy theorist stuff, there.”)
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To: Wuli

One of the prime insanities of our time.
You’re not enslaved, and you’ve never met a slave. I never enslaved anyone and I don’t know anyone who ever did.
Furthermore, nobody’s ancestors got here on a red carpet. My ancestors washed up here with nothing, made the best of their situation, just like yours. Mine had a little more freedom to shiver and starve, yours had a little less freedom to do it wherever they wanted.
Let’s revisit those days, when I couldn’t vote either, or own property, being female. Where I couldn’t refuse physical mutilation, or even walk down the street alone if I wished, and if I got sick, there were no good medications, and if I got raped I was told to shut up. Your ancestors’ primeval Eden, it’s still there, but they can’t have it back and you don’t want it or you’d call United. Your ancestors’ kids, grandkids, on down to you — you all missed out big time? Did they die regretting how it went down?
No. Now quit your coveting and roll the dice.


18 posted on 03/14/2023 8:47:29 AM PDT by Buttons12 ( Do you not think an Angel rides in the Whirlwind and directs this Storm?)
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To: Wuli

BTTT


19 posted on 03/14/2023 9:01:08 AM PDT by nopardons
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To: Wuli

Cut unnecessary spending, not defense or Social Security except for what illegals might get from the latter, then give them the reparations and tax it at 110%.


20 posted on 03/14/2023 9:04:31 AM PDT by KrisKrinkle (c)
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