Minimum Reparation Due To Slave Descendants: $1.5 Million – Each!

Cicatrices de flagellation sur un esclaveThe Activist Teacher blog does the arithmetic and comes up with a number ($59.2 Trillion!) that will do nothing to help balance the United States’ budget, but perhaps should be paid nonetheless?

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 labour, adjusted ata 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.

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 $7.25 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)…

[continues at the Activist Teacher blog]

majestic

Majestic is gadfly emeritus.

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35 Comments on "Minimum Reparation Due To Slave Descendants: $1.5 Million – Each!"

  1. TennesseeCyberian | Jan 19, 2013 at 4:36 pm |

    That makes sense, actually. If one demographic group lives idly while extracting the wealth of another, hard-working demographic group, the exploitative consuming class is certainly indebted to the laboring class upon which they have depended for so long.

    Even a simple “thank you” would be a good start.

  2. ummm can we see something for the native american reparations? im not trying to be a douche but considering the current state of africa vs america they came out with their reparations simply by their current living conditions when compared to how they all would be living if not for the event of slavery im in no way saying i support slavery in any form what so ever but between the 2 races who got the shittier end of the stick? the aficans taken as slaves and their current descendants vs whats left of the native american tribes and their descendants so what would be the calculated payment to the last of the native americans? let’s see…death an genocide and torture ….an entire nation of land stolen…continued emotional and heritage suffering at the hands of the american government ..denial of rights to their heritage from the american government…the list makes hitler look like a friendly police action with minimal casualties by comparison to the carnage inflicted on the indigenous tribes of north america at the hands of the colonizers

    • Who are these natives that you speak of?

      • these “natives that i speak of” are the last of the tribes in america that were subjugated worse than the african slaves that were brought over and to ken stewart yeah thats a really adult theme eh? btw no it wont a bunch of nazi type killing it was good old european slaughter en mass there were once over 600 different tribes here in america now around a dozen have descendants left here so yeah they got it far worse…i’ll ask you in the form of dave chappelle “when was th elast time you were out eating an seen a native american family there as well? never? yep”

        • Ward Churchill (met him once in a bar after a talk–nice guy of the gruff type) cites studies suggesting a pre-European native population of up to 90-100 million in North and South America. If that’s only half right, that’s a staggering amount of killing. Tops Mao, even.

    • Ken Stewart | Jan 20, 2013 at 6:53 pm |

      The colonizers didn’t experiment or use gas chambers/ovens. BTW – you’re still a douche’.

  3. Kevin Leonard | Jan 19, 2013 at 9:23 pm |

    How can one speak critically of this idea without sounding like a racist asshole?

  4. Justice for Obama voters? Don’t make me laugh.

    How about compensating the surviving victims and their families of the USA’s: torture, unlawful detentions and multiple aggressions over the last four fucking years!?

    Avaricious hypocritical CUNTS.

  5. BuzzCoastin | Jan 20, 2013 at 12:25 am |

    I doubt the debt will be repaid
    butt
    maybe Uncle Homzland could stop incarcerating a disproportionately large number of Blacks
    for fun & profit

  6. Lets just say that the cost of clothing, food and shelter is equal or greater than what they would make at minimum wage and call it even.

  7. SuperSerial | Jan 20, 2013 at 11:57 am |

    This article is so stupid, I mean how many horrible acts of evil have happened over time? Should we all start repaying the Jews for the holocaust, The victims of the roman empire, etc… I mean we should do our best to learn from evil and make sure it doesn’t happen again. But for anyone to sit down and crank out some repayment numbers is dumb I mean spend that time thinking forward and not backwards, come up with a way to improve the modern world instead. And one more point the African tribal leaders gladly sold their brothers and sisters to the whites that landed in Africa for money so shouldnt they be held accountable too?

    • Ken Stewart | Jan 20, 2013 at 6:49 pm |

      The Holocaust didn’t happen in America genuis.

      • SuperSerial | Jan 21, 2013 at 1:53 pm |

        ya good point I was just trying to say that it’s kinda impossible to go back through the history books and make people square up on every injustice since the dawn of time.

  8. SuperSerial | Jan 20, 2013 at 11:57 am |

    This article is so stupid, I mean how many horrible acts of evil have happened over time? Should we all start repaying the Jews for the holocaust, The victims of the roman empire, etc… I mean we should do our best to learn from evil and make sure it doesn’t happen again. But for anyone to sit down and crank out some repayment numbers is dumb I mean spend that time thinking forward and not backwards, come up with a way to improve the modern world instead. And one more point the African tribal leaders gladly sold their brothers and sisters to the whites that landed in Africa for money so shouldnt they be held accountable too?

  9. Being from a long line of Northerners, The average black person has more slave owning ancestors than I do.

  10. Roger Mexico | Jan 23, 2013 at 3:09 am |

    Um, sorry to take a shit at the angry white people party, but I think this is mostly intended for rhetorical purposes, and it’s actually a good point.

    In a hypothetical free market, you get wages representing the approximate market value of your labor. You’re free to save, spend, or invest this money as you see fit. If you’re able to save or invest some of it, you build up a savings which becomes capital that you very likely use to help your children get some kind of head start in life, boosting their earning potential to whatever degree possible. (And/or your children inherit it when you die.) Add up this effect over several generations and think about what that means.

    Slavery is pretty much the exact opposite of a free market in labor–sure, your owner spends money to feed and clothe you, but you don’t actually see a dime of what your work is worth that you have any control over. Now think about the previous paragraph in terms of the differences between a group of people whose parents and grandparents were part of a free labor market and a group of people whose ancestors were part of a slave labor system over the same number of generations.

    Think maybe this has anything to do with why African-Americans still tend, on average, to have a lower net worth than white people, on average, even today?

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