- Slave generations, 10: 1776 - 1865 (wiki says either 10 or 12 generations; I used the more conservative number of 10)
- 10 generations x 40 years of work for each generation
- average: 10 cents/day for wages across all generations
- 40 years * 365 *10 cents = $1,460 * four family members per generation = $5,840 for one family across ten generations of slavery
- the family would have taken their earnings and invested the $5,840 in the British and US stock markets over the years and the portfolio would have grown to $8,650 by 1865
- the family’s portfolio would have grown to $1,467,045 at the height of the “Roaring 20’s” (1920s)
- fortunately, the family would have had the foresight to sell before the market crashed; the family would have kept the $1.5 million in cash until WWII
- the family then would have invested the $1.5 million in the US stock market during the post-war boom, growing the portfolio to $2.3 million by 1955
- spotting IBM, the company would have invested much of the $2.3 million in IBM in 1955, which then grew to $230 million by 1984
- in 1984, the family would have spotted a small company called Apple and would have sold most of their IBM to buy shares in AAPL; the portfolio grew to $2.14 billion as of 2015
- so, by all rights, this family is owed a “reparations” check of $2.14 billion
- since “every” African-American can trace his/her heritage back to a slave family, the 37 million African Americans * $2.14 billion = $79 million billion or 79 thousand thousand billion or 79 thousand trillion or $79,000 trillion.
Sunday, March 3, 2019
Reparations -- Idle Computing
Disclaimer: there are a few assumptions in the calculations below. In addition, I often make simple arithmetic errors, and with big numbers, I often lose track of the number of zeroes involved. This is for my own use trying to figure out what reparations might cost the nation. Your numbers may vary.
Posted by Bruce Oksol at 10:06 AM