by: Erin Gregory, Maria Ladias, Oliver Friedman and Tom Carter
July 1, 2020
William “Sandy” Darity, economist, author
Big Idea: The time has come to seriously talk about reparations: direct financial payments to the descendants of slaves for hundreds of years of injustice.
How? A growing consciousness of America’s systemic white supremacy (built on mass incarceration, police violence, discrimination in markets and the immense wealth gap between black and white communities) has brought contemporary politics to a boil. How does the country dismantle the intertwined legacies of slavery and the unequal, trans-generational wealth distribution that has overwhelmingly benefited white people? Reparations are not only a practical means to address the harm visited upon Black Americans by centuries of economic exclusion, but also a chance for white America to acknowledge the damage that has been done — a crucial step to reconciliation and true equality. To truly redress the harm done to descendants of slavery, reparations must seek to eliminate the racial wealth gap. Darity believes that, for the first time since Reconstruction promised ex-slaves “40 acres and a mule,” reparations are entering the mainstream political discussion, and a once wildly speculative idea seems to lie within the realm of possibility. “It’s always an urgent time to adopt reparations,” Darity says. “It has been an urgent time for the 155 years since the end of American slavery, where no restitution has been provided. It’s time for the nation to pay the debt; it’s time for racial justice.”
Read the full blog here.