Why reparations for slavery could help boost the economy

Reuters ^ | June 4, 2014 | Michael Maiello

[C19fan]

In the May 21 issue of The Atlantic, Ta-Nehisi Coates re-opened the question of whether the United States government should pay reparations to African-Americans for the crimes of two and a half centuries of slavery, 60 years of Jim Crow-style segregation and decades more of racist housing policies, zoning and community development. His conclusion — that a great accounting of wrongs must take place, as well as a decision about how to make amends for them– has inevitably sparked disagreement. But set that aside. Imagine we have decided yes, as a society we must pay a price for these injustices, and it must be large. Those payments could well constitute the stimulus that the U.S. economy needs to take it into the next century.

To the economy, stimulus is stimulus, as long as it’s done right. Whether it is paid to a group of people based on where they live, their ethnicity or their religion might matter to politics, but to the economy, it doesn’t matter – as long as the money is put to work through either consumption or investment. The reparations-as-stimulus idea gets a short mention from Coates, who writes that:

[C19fan]

Reparations = Keynesian stimulus. The author ignores someone has to pony up the money for the reparations whether higher taxes, less spending in other areas or borrowing the money thereby reducing investment in productive areas of the economy.

[YourAdHere]

What, the free sh*t they’re getting now ain’t enough?

[cuban leaf]

You could get rich making adult movies. It doesn’t mean it’s the right thing to do.

i.e. financial benefits or losses miss the point here.

[ConservativeDude]

it will boost the economy just like welfare did

[jmaroneps37]

We gave already. The Union lost 77 combat dead every day for four years straight without a day missed. We have given Blacks who were never slaves things they have used to gain positions they have no credentials for save for the color of their skin. Go away.

[chopperman]

They’ve already received 50 years of reparations.

[PBRCat]

I support reparations one hundred percent provided that African Americans are mutually obligated to make reparations to the citizens of all fifty states for their past criminal behaviors as represented by their higher rate of incarceration throughout the USA.

[twister881]

Certainly would be a boost for the makers of blunts, crack, and Colt 45.

[2banana]

It will certainly help ammo sales...

[Doctor 2Brains]

Correct. There is no pile of unused money sitting around waiting to be “injected” into the economy. Every cent “injected” into the economy, must first be removed from the economy from point a, to be moved to point b. Reparations would certainly stimulate SOME industries (crack production comes to mind), but it would equally depress others.

[RightGeek]

LOL, let’s give everyone a big pot of money. That would be fantastic for the economy! Not.

[Ancient Man]

Confiscate it from registered democrats.

[PrairieLady2]

Brilliant strategy for ‘’stimulus’’. Take my $10 and slide it down the table for the other guy to spend.

Considering that all people of the world have been slaves at some point in history, including WHITE people, reparations are a stupid idea.

Since nobody in this generation enslaved the blacks of this generation, once again the idea is stoopid.

Let them go back to the tribal chiefs in Africa who sold them into slavery in the first place (their OWN people) and let THEM pay reparations!

If the us government screwed up, then let the reparations come out of congressional wages, and leave us minimum wage slaves out of it.

[Raycpa]

Moving money from productive assets to nonproductive assets works every time its tried.

[demshateGod]

The people selling Air Jordans and Lebron jerseys will see a short term boost.

[Pollster1]

To the economy, stimulus is stimulus . . . to the economy, it doesn’t matter – as long as the money is put to work through either consumption or investment.

The stupidity of liberals is staggering; how money is spent/invested matters a great deal. Bad investments obviously do active harm. Neutral investments are harmful because they siphon money away from productive purposes. We are continuously reminded that liberals are incapable of identifying good investments, but we have all seen the contribution that good investments make to our quality of life.

Where are reparations on the investment scale? They are one of the worst imaginable uses for money that should remain in the wallets of those who contribute to society. Any descendent of slaves who wants "reparations" should produce, contribute, and collect the voluntary payments in a free economy from those who are enriched by that productivity.

[Vaquero]

so much Bovine Scat.....The Atlantic is an enemy combatant.

[Cyclone59]

Reparations = Keynesian stimulus. The author ignores someone has to pony up the money for the reparations whether higher taxes, less spending in other areas or borrowing the money thereby reducing investment in productive areas of the economy.

take it from the EBT, Foodstamps, Section 8 budgets. Having said that, haven't they been paying reparations in the form of the above mentioned money holes?

[ConservativeInPA]

If they start talking this reparation crap again then race relations will really be a thing of the past. Obama and his social justice crowd have really shown the make up of Negroes.

[dfwgator]

I totally agree that any living slaves should be compensated with Confederate money.