Reply to It's (finally) time for reparations. It's time for the US to pay its debt.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think there may be a moral basis for reparations.  But wouldn’t the economic benefits of race based affirmative action over the last decades have to be taken into account too, to arrive at an appropriate payment amount?  [/quote]

How would you measure that?

If you look at the income and wealth gaps, we haven't made any progress.

https://www.minneapolisfed.org/institute/working-papers-institute/iwp9.pdf
[i]"The historical data also reveal that no progress has been made in reducing income and wealth inequalities between black and white households over the past 70 years"[/i]
[/quote]

What happens when you take Bezos, Gates, and Zuckerberg out?

We've significantly increased income inequality over the past several decades. But that's not the same issue as the wealth inequality between white and black people.[/quote]

That is because much of wealth is no longer tied to tangible things, be it physical property, precious metals, or produced goods.  Also increased wealth inequality started around the same time that we increased the size of the workforce through increased female labor participation rates coupled with imcreased immigration. Also moving off the gold standard allowed for printing of tremendous amounts of money, which devalued non-physical wealth.  This also lead to a significant price to earnings expansion ratio for stocks, which increased shareholder wealth for existing shareholders, likewise reduction in interest rates have expanded the value of homes and the cost of an education, which in turn increases the debt load.

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