Is There a Generational Difference Between Blacks and Whites?

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i think there is political momentum in that direction. I think people are sort of fed up, feeling that this system is unfair. When changes in laws meant that women and blacks were able to be treated equally in the labor market, productivity massively increased. So i think for me, focusing a lot on how we equalize opportunities for black people who are disadvantaged would be an easier argument than reparations. And so everybody benefits from using all the talent in society because it's so much more likely to get support.

Michael Shermer speaks with Nemat Talaat Shafik, Baroness Shafik DBE, known as Minouche Shafik, one of the leading policy experts of our time, about a new and better social contract that recognizes our interdependencies, supports and invests more in each other, and expects more of individuals in return: a rethinking of how we can better support each other to thrive. Shafik avers that no only can every country provide its citizens with the basics to have a decent life and be able to contribute to society, but that we owe each other more than this. A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential.

Shafik is an Egyptian-born British-American economist who served as the Deputy Governor of the Bank of England from August 2014 to February 2017 and has served as the Director of the London School of Economics since September 2017. She served as the Permanent Secretary of the Department for International Development from March 2008 to March 2011, when she went on to serve as the Deputy Managing Director of the IMF — International Monetary Fund.