Estimating Slavery Reparations: Present Value Comparisons of Historical Multigenerational Reparations Policies

Objective I investigate two problems regarding multigenerational reparations: legal obstacles caused by the passage of time and economic difficulties in obtaining realistic present value estimates. Methods To investigate legal precedents, I trace the French spoliation claims, which were paid over a period of 123 years, and Haiti's independence debt, which was paid over 156 years. To investigate present value estimation, I compare existing slavery reparations estimates based on slave prices as expected future income to alternative estimates based on the number of unremunerated work hours multiplied with historical free labor market wages. Results I estimate the present value of U. S. slave labor in 2009 dollars to range from 5. 9 to 14. 2 trillion. Historical precedents suggest that political rather than narrowly legal processes will determine any ultimate claims. Conclusions Neither problems nor solutions associated with multigenerational reparations are new. New is the estimation method and the resulting upward correction of reparations estimates.