The Economic Benefits of Slavery Reparations

The economic inequality between white and black households is staggering. According to the U.S. Census Bureau, the median net worth of white households is 10 times that of black households at $171,000 and $17,600, respectively. This is in part due to the fact that many African American households have not been passed down generational wealth from slavery, furthering the economic deprivation of African Americans and the disparity between white and black households. Despite this, the federal government has not implemented reparations to right the past wrongs done to African Americans. Phillip M. Bailey and Rachel Looker's article, "Republicans Silent As Tuberville's Racist Remarks on Reparations Spark Outrage," argues that reparations are not only a moral imperative, but that they can also benefit everyone. Bailey and looker point out that reparations can create an economic situation where everyone could benefit, not only African Americans. They write, “By repairing the wealth gap, education disparities, and other issues linked to slavery, Americans of all racial backgrounds would benefit from greater economic prosperity.” This would not only benefit the African American community, but also the entire nation. In addition to the economic benefits of reparations, the psychological impact of slavery on African Americans is another reason why reparations should be implemented. This is particularly true since many African Americans still feel the effects of slavery to this day. In their article, Bailey and Looker point out that while reparations may never fully address this problem, “acknowledging the wrongs of the past and symbolically righting them can help heal the wounds of past traumas.” Therefore, reparations should be implemented not only because of the lasting impacts of slavery on African Americans, the economic benefits of reparations, and the moral obligation to right past wrongs, but also to help create a more equitable and prosperous future for all. Works Cited Looker, Rachel, and Phillip M. Bailey. "Republicans Silent As Tuberville's Racist Remarks on Reparations Spark Outrage." Politico, 7 Apr. 2021, www.politico.com/news/2021/04/07/tommy-tuberville-reparations-silence-480405. U.S. Census Bureau. "American Community Survey - Table S1901: Median Net Worth by Race and Hispanic Origin." U.S