Pub Date : 2020-10-13DOI: 10.1177/0034644620962811
N. Banks
This analysis discusses the lived experiences of Black American women as the basis for a new theoretical framework for understanding women’s unpaid work. Feminist economists have called attention to the invisibility of women’s unpaid work within the private household but have not adequately considered the unpaid, nonmarket work that women perform collectively to address urgent community needs that arise out of racial and ethnic group disparities. As such, racialized women’s unpaid, nonmarket work continues to be subject to invisibility. This analysis reconceptualizes Black women’s community activism as unpaid, nonmarket “work” and illustrates that the community is a primary site of nonmarket production by Black women and other racialized women. The community is an important site where racialized women perform unpaid, nonmarket collective work to improve the welfare of community members and address community needs not met by the public and private sectors. The analysis elevates the community to a site of production on par with the household, thereby calling for a paradigm shift in feminist economic conceptualizations of unpaid work. This new framework enables us to examine intersectional linkages across different sites of production—firms, households, and communities—where multiple forms of oppression operate in structuring peoples’ lives. Compared with additive models of gender and race, this intersectional approach more fully captures the magnitude of racialized women’s oppression.
{"title":"Black Women in the United States and Unpaid Collective Work: Theorizing the Community as a Site of Production","authors":"N. Banks","doi":"10.1177/0034644620962811","DOIUrl":"https://doi.org/10.1177/0034644620962811","url":null,"abstract":"This analysis discusses the lived experiences of Black American women as the basis for a new theoretical framework for understanding women’s unpaid work. Feminist economists have called attention to the invisibility of women’s unpaid work within the private household but have not adequately considered the unpaid, nonmarket work that women perform collectively to address urgent community needs that arise out of racial and ethnic group disparities. As such, racialized women’s unpaid, nonmarket work continues to be subject to invisibility. This analysis reconceptualizes Black women’s community activism as unpaid, nonmarket “work” and illustrates that the community is a primary site of nonmarket production by Black women and other racialized women. The community is an important site where racialized women perform unpaid, nonmarket collective work to improve the welfare of community members and address community needs not met by the public and private sectors. The analysis elevates the community to a site of production on par with the household, thereby calling for a paradigm shift in feminist economic conceptualizations of unpaid work. This new framework enables us to examine intersectional linkages across different sites of production—firms, households, and communities—where multiple forms of oppression operate in structuring peoples’ lives. Compared with additive models of gender and race, this intersectional approach more fully captures the magnitude of racialized women’s oppression.","PeriodicalId":35867,"journal":{"name":"Review of Black Political Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81036384","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-10-08DOI: 10.1177/0034644620963040
M. Malefane
This study explores the relevance of the core–periphery relationship in the Southern African Customs Union (SACU), a union comprising five highly unequal economies. In the analysis, the study employs five key indicators: economic size, trade logistics and facilitation, regional integration, and intra-SACU trade, to assess the main aspects underlying the core–periphery relationship in the union. The findings of this study point to dominance-dependency behavior within the union, where South Africa is the dominant core while Botswana, Lesotho, Namibia, and eSwatini are the dependent periphery. Based on the findings, the recommendations are that SACU countries should, among other strategies, identify ways of promoting high-value-added cross-border value chains across the union members. Also, the Botswana, Lesotho, Namibia, and eSwatini peripheries could improve their infrastructure and productive capacity if their objective is to create an export base in some of the products currently supplied by South Africa.
{"title":"Investigating the Core–Periphery Relationship in the Southern African Customs Union","authors":"M. Malefane","doi":"10.1177/0034644620963040","DOIUrl":"https://doi.org/10.1177/0034644620963040","url":null,"abstract":"This study explores the relevance of the core–periphery relationship in the Southern African Customs Union (SACU), a union comprising five highly unequal economies. In the analysis, the study employs five key indicators: economic size, trade logistics and facilitation, regional integration, and intra-SACU trade, to assess the main aspects underlying the core–periphery relationship in the union. The findings of this study point to dominance-dependency behavior within the union, where South Africa is the dominant core while Botswana, Lesotho, Namibia, and eSwatini are the dependent periphery. Based on the findings, the recommendations are that SACU countries should, among other strategies, identify ways of promoting high-value-added cross-border value chains across the union members. Also, the Botswana, Lesotho, Namibia, and eSwatini peripheries could improve their infrastructure and productive capacity if their objective is to create an export base in some of the products currently supplied by South Africa.","PeriodicalId":35867,"journal":{"name":"Review of Black Political Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84124985","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-09-19DOI: 10.1177/0034644620960228
Talknice Saungweme, N. Odhiambo
By applying the autoregressive distributed lag approach, this article investigates the dynamic impact of public debt service on economic growth in South Africa, covering the period from 1970 to 2017. In the recent past, alarming bells have already started sounding about the country’s high debt/gross domestic product (GDP) ratio amid chronic low GDP growth. The article seeks to contribute to the debate that limiting the proportion of public debt service payments to gross national product can achieve economic growth by freeing domestic resources. The empirical findings of the study show that there is no statistically significant relationship between public debt service and economic growth in South Africa, irrespective of whether the estimations are done in the long run or in the short run. Policy implications are discussed.
{"title":"Public Debt Service in South Africa and Its Impact on Economic Growth: An Empirical Test","authors":"Talknice Saungweme, N. Odhiambo","doi":"10.1177/0034644620960228","DOIUrl":"https://doi.org/10.1177/0034644620960228","url":null,"abstract":"By applying the autoregressive distributed lag approach, this article investigates the dynamic impact of public debt service on economic growth in South Africa, covering the period from 1970 to 2017. In the recent past, alarming bells have already started sounding about the country’s high debt/gross domestic product (GDP) ratio amid chronic low GDP growth. The article seeks to contribute to the debate that limiting the proportion of public debt service payments to gross national product can achieve economic growth by freeing domestic resources. The empirical findings of the study show that there is no statistically significant relationship between public debt service and economic growth in South Africa, irrespective of whether the estimations are done in the long run or in the short run. Policy implications are discussed.","PeriodicalId":35867,"journal":{"name":"Review of Black Political Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-09-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86889935","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-09-01DOI: 10.1177/0034644619885395
J. Komlos
Markets have 14 Achilles heels that reduce the chances of those born into poverty to succeed in today’s complex economy. These intrinsic imperfections, generally overlooked in mainstream Econ 101, include costly information that implies that its acquisition by poor people requires a greater share of their income. Because of inferior schooling opportunities, the poor are more exposed to the myriad of problems associated with bounded rationality. That tastes are assumed to be exogenous is hardly a benign oversight, because people enter the market as children; so the market has a long time to affect their character. This has a harsh effect especially on poor children because they are particularly vulnerable to advertisements and Pavlovian conditioning. Opportunistic behavior means that people with better information can take advantage of others in an immoral, unprincipled, cunning, crafty or deceptive manner. Because of less information at their disposal and because of inferior schooling, minorities are more exposed to the vagaries of predatory advertisements. This often leads to exploitation by people with more power. Mainstream Econ 101 overlooks these Achilles heels. Hence, economists who teach conventional economics provide succor for the maintenance of the status quo which finds minorities in a disadvantageous position in U.S. society.
{"title":"Why African American Economists Should Abandon Mainstream Economic Theory ASAP","authors":"J. Komlos","doi":"10.1177/0034644619885395","DOIUrl":"https://doi.org/10.1177/0034644619885395","url":null,"abstract":"Markets have 14 Achilles heels that reduce the chances of those born into poverty to succeed in today’s complex economy. These intrinsic imperfections, generally overlooked in mainstream Econ 101, include costly information that implies that its acquisition by poor people requires a greater share of their income. Because of inferior schooling opportunities, the poor are more exposed to the myriad of problems associated with bounded rationality. That tastes are assumed to be exogenous is hardly a benign oversight, because people enter the market as children; so the market has a long time to affect their character. This has a harsh effect especially on poor children because they are particularly vulnerable to advertisements and Pavlovian conditioning. Opportunistic behavior means that people with better information can take advantage of others in an immoral, unprincipled, cunning, crafty or deceptive manner. Because of less information at their disposal and because of inferior schooling, minorities are more exposed to the vagaries of predatory advertisements. This often leads to exploitation by people with more power. Mainstream Econ 101 overlooks these Achilles heels. Hence, economists who teach conventional economics provide succor for the maintenance of the status quo which finds minorities in a disadvantageous position in U.S. society.","PeriodicalId":35867,"journal":{"name":"Review of Black Political Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81373614","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-09-01DOI: 10.1177/0034644620947530
{"title":"Statement from the National Economic Association (NEA)","authors":"","doi":"10.1177/0034644620947530","DOIUrl":"https://doi.org/10.1177/0034644620947530","url":null,"abstract":"","PeriodicalId":35867,"journal":{"name":"Review of Black Political Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75925879","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-09-01DOI: 10.1177/0034644619885349
N. Baklouti, Y. Boujelbene
There is considerable debate over the effects of both corruption and shadow economy on growth, but few studies have considered how the interaction between them might affect economic growth. We study how corruption levels in public administration affect economic growth and how this effect depends on the shadow economy. Using Ordinary Least Squares (OLS), fixed effects, and system generalized method of moments (GMM) on a dataset of 34 OECD countries over the period 1995-2014. The estimation results indicate that increased corruption and a larger shadow economy lead to decrease in economic growth. Results additionally indicate that the shadow economy magnifies the effect of corruption on economic growth. These results imply significant complementarities between corruption and the shadow economy, suggesting that the reduction of corruption will lead to a fall in the size of the shadow economy and will also reduce the negative effects of corruption on economic growth through the underground economy.
{"title":"Shadow Economy, Corruption, and Economic Growth: An Empirical Analysis","authors":"N. Baklouti, Y. Boujelbene","doi":"10.1177/0034644619885349","DOIUrl":"https://doi.org/10.1177/0034644619885349","url":null,"abstract":"There is considerable debate over the effects of both corruption and shadow economy on growth, but few studies have considered how the interaction between them might affect economic growth. We study how corruption levels in public administration affect economic growth and how this effect depends on the shadow economy. Using Ordinary Least Squares (OLS), fixed effects, and system generalized method of moments (GMM) on a dataset of 34 OECD countries over the period 1995-2014. The estimation results indicate that increased corruption and a larger shadow economy lead to decrease in economic growth. Results additionally indicate that the shadow economy magnifies the effect of corruption on economic growth. These results imply significant complementarities between corruption and the shadow economy, suggesting that the reduction of corruption will lead to a fall in the size of the shadow economy and will also reduce the negative effects of corruption on economic growth through the underground economy.","PeriodicalId":35867,"journal":{"name":"Review of Black Political Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90490519","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-08-06DOI: 10.1177/0034644620946420
Derviş Kırıkkaleli, Melike Torun, J. K. Sowah
For decades, domestic risks belonged to the category of issues that are difficult to understand because information is fragmented or incomplete. However, paradoxically it has been suggested by many researchers that domestic risks involve complex combinations of structural and institutional weakness, bad governance, and regional contagion wrapped in a paradigm of high levels of trade, capital, and information flows, resulting in economic risk. This study employ first- and second-generation panel-based estimators—Westerlund cointegration, fully modified ordinary least square (FMOLS), dynamic ordinary least square (DOLS), and dynamic common correlated effects mean group (D-CCEMG)—to explore both short-run and long-run nexus between domestic risks and economic risks in Northern African countries from 1997Q2 to 2018Q4. To our knowledge, no study has applied these econometric techniques to investigate interlink-ages among domestic risks, economic risks, and as well as including dummy variable of Arab Spring in Northern African countries. Our empirical findings reveal that (a) financial and political stabilities positively affect economic stability, and (b) Arab Spring negatively affected economic stability. Our analysis confirms that domestic risks involve institutional weakness and bad governance region in regional contagion. Given this new insight on economic risk, policymakers should develop a strong financial system that promotes economic growth.
{"title":"The Effect of Domestic Risks and Arab Spring on Economic Risk in Northern African Countries: Findings From the First- and Second-Generation Panel Approaches","authors":"Derviş Kırıkkaleli, Melike Torun, J. K. Sowah","doi":"10.1177/0034644620946420","DOIUrl":"https://doi.org/10.1177/0034644620946420","url":null,"abstract":"For decades, domestic risks belonged to the category of issues that are difficult to understand because information is fragmented or incomplete. However, paradoxically it has been suggested by many researchers that domestic risks involve complex combinations of structural and institutional weakness, bad governance, and regional contagion wrapped in a paradigm of high levels of trade, capital, and information flows, resulting in economic risk. This study employ first- and second-generation panel-based estimators—Westerlund cointegration, fully modified ordinary least square (FMOLS), dynamic ordinary least square (DOLS), and dynamic common correlated effects mean group (D-CCEMG)—to explore both short-run and long-run nexus between domestic risks and economic risks in Northern African countries from 1997Q2 to 2018Q4. To our knowledge, no study has applied these econometric techniques to investigate interlink-ages among domestic risks, economic risks, and as well as including dummy variable of Arab Spring in Northern African countries. Our empirical findings reveal that (a) financial and political stabilities positively affect economic stability, and (b) Arab Spring negatively affected economic stability. Our analysis confirms that domestic risks involve institutional weakness and bad governance region in regional contagion. Given this new insight on economic risk, policymakers should develop a strong financial system that promotes economic growth.","PeriodicalId":35867,"journal":{"name":"Review of Black Political Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83399288","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-07-16DOI: 10.1177/0034644620938620
Melanie G. Long
Previous work has found that predominantly Black and Hispanic neighborhoods continue to have less access to mainstream financial services and a greater prevalence of high-cost alternatives. Less attention has been dedicated to the other financial tools available to financially excluded households. Borrowing from friends and family is one widely used yet under-examined strategy for coping with emergency expenses. The literature provides preliminary evidence that informal borrowing and the costs of such borrowing are unequally distributed by race and gender. Drawing on data from the Survey of Household Economics and Decisionmaking, this article identifies predictors of planned informal borrowing use and examines whether this borrowing is symptomatic of financial exclusion using a bivariate probit model. Women of color are disproportionately likely to plan on using informal borrowing as their sole strategy for coping with an emergency expense. Black women in particular are twice as likely to do so as White respondents. While this informality occurs among the banked and unbanked, unobserved factors such as limited access to bank branches link financial exclusion and informal borrowing.
{"title":"Informal Borrowers and Financial Exclusion: The Invisible Unbanked at the Intersections of Race and Gender","authors":"Melanie G. Long","doi":"10.1177/0034644620938620","DOIUrl":"https://doi.org/10.1177/0034644620938620","url":null,"abstract":"Previous work has found that predominantly Black and Hispanic neighborhoods continue to have less access to mainstream financial services and a greater prevalence of high-cost alternatives. Less attention has been dedicated to the other financial tools available to financially excluded households. Borrowing from friends and family is one widely used yet under-examined strategy for coping with emergency expenses. The literature provides preliminary evidence that informal borrowing and the costs of such borrowing are unequally distributed by race and gender. Drawing on data from the Survey of Household Economics and Decisionmaking, this article identifies predictors of planned informal borrowing use and examines whether this borrowing is symptomatic of financial exclusion using a bivariate probit model. Women of color are disproportionately likely to plan on using informal borrowing as their sole strategy for coping with an emergency expense. Black women in particular are twice as likely to do so as White respondents. While this informality occurs among the banked and unbanked, unobserved factors such as limited access to bank branches link financial exclusion and informal borrowing.","PeriodicalId":35867,"journal":{"name":"Review of Black Political Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80806759","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-30DOI: 10.1177/0034644620933803
E. Olubiyi
The link among energy use, human welfare, and carbon emission has been a topical issue in the literature. In Africa, energy consumption has been on the increase owing to the production and consumption of sophisticated consumer goods and home appliances. Increased energy use triggers carbon emission that is detrimental to human welfare. This study investigates this puzzle in emerging African countries by utilizing panel vector autoregressive and system generalized method of moments (SYS-GMM) in the context of a mix of theories. The results indicate a unidirectional causality running from FUEL, COAL to per capita income (PCI). A unidirectional causality running from mortality rate (MOR) to COAL and CO2 was observed. There is a bidirectional relationship between MOR and energy use. The SYS-GMM results show that the effects of energy consumption on well-being are diverse. Increase in coal consumption reduces unemployment rate while electricity consumption reduces infant mortality rate. Fuel consumption aggravates incidence of mortality rate. CO2 reduces unemployment but worsens infant mortality rate. Electricity consumption reduces infant mortality rate. Hence, for the purpose of policy harmonization tailored toward improving well-being in the emerging economies of Africa, it is recommended that more of coal consumption and efficient use of electricity must be encouraged.
{"title":"Energy Consumption, Carbon Emission, and Well-Being in Africa","authors":"E. Olubiyi","doi":"10.1177/0034644620933803","DOIUrl":"https://doi.org/10.1177/0034644620933803","url":null,"abstract":"The link among energy use, human welfare, and carbon emission has been a topical issue in the literature. In Africa, energy consumption has been on the increase owing to the production and consumption of sophisticated consumer goods and home appliances. Increased energy use triggers carbon emission that is detrimental to human welfare. This study investigates this puzzle in emerging African countries by utilizing panel vector autoregressive and system generalized method of moments (SYS-GMM) in the context of a mix of theories. The results indicate a unidirectional causality running from FUEL, COAL to per capita income (PCI). A unidirectional causality running from mortality rate (MOR) to COAL and CO2 was observed. There is a bidirectional relationship between MOR and energy use. The SYS-GMM results show that the effects of energy consumption on well-being are diverse. Increase in coal consumption reduces unemployment rate while electricity consumption reduces infant mortality rate. Fuel consumption aggravates incidence of mortality rate. CO2 reduces unemployment but worsens infant mortality rate. Electricity consumption reduces infant mortality rate. Hence, for the purpose of policy harmonization tailored toward improving well-being in the emerging economies of Africa, it is recommended that more of coal consumption and efficient use of electricity must be encouraged.","PeriodicalId":35867,"journal":{"name":"Review of Black Political Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78173445","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-19DOI: 10.1177/0034644620926516
Thomas Craemer, Trevor A. Smith, Brianna Harrison, Trevon Logan, Wesley Bellamy, W. Darity
We compare the 2018 per capita Black–White wealth gap of about US$352,250 with portions of the estimated total cost of slavery and discrimination to African American descendants of the enslaved. For the period of slavery in the United States, we arrive at estimates of about US$12 to US$13 trillion in 2018 dollars using Darity’s land-based and Marketti’s price-based estimation methods, respectively. Estimates using Craemer’s wage-based method tend to be higher ranging from US$18.6 trillion at 3% interest to US$6.2 quadrillion at 6% interest. The value of lost freedom (LF) based on Japanese American World War II internment reparations is estimated at 3% interest to amount to US$35 trillion and at 6% to US$16 quadrillion. Further research is required to estimate the cost of lost opportunities (LC) and pain and suffering (PS). Further research is also required to estimate the costs of colonial slavery, as well as racial discrimination following the abolition of slavery in the United States to African American descendants of the enslaved. Whether the full cost of slavery and discrimination should be compensated, or only a portion, and at what interest rate remain to be determined by negotiations between the federal government and the descendant community.
{"title":"Wealth Implications of Slavery and Racial Discrimination for African American Descendants of the Enslaved","authors":"Thomas Craemer, Trevor A. Smith, Brianna Harrison, Trevon Logan, Wesley Bellamy, W. Darity","doi":"10.1177/0034644620926516","DOIUrl":"https://doi.org/10.1177/0034644620926516","url":null,"abstract":"We compare the 2018 per capita Black–White wealth gap of about US$352,250 with portions of the estimated total cost of slavery and discrimination to African American descendants of the enslaved. For the period of slavery in the United States, we arrive at estimates of about US$12 to US$13 trillion in 2018 dollars using Darity’s land-based and Marketti’s price-based estimation methods, respectively. Estimates using Craemer’s wage-based method tend to be higher ranging from US$18.6 trillion at 3% interest to US$6.2 quadrillion at 6% interest. The value of lost freedom (LF) based on Japanese American World War II internment reparations is estimated at 3% interest to amount to US$35 trillion and at 6% to US$16 quadrillion. Further research is required to estimate the cost of lost opportunities (LC) and pain and suffering (PS). Further research is also required to estimate the costs of colonial slavery, as well as racial discrimination following the abolition of slavery in the United States to African American descendants of the enslaved. Whether the full cost of slavery and discrimination should be compensated, or only a portion, and at what interest rate remain to be determined by negotiations between the federal government and the descendant community.","PeriodicalId":35867,"journal":{"name":"Review of Black Political Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75105700","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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