Freakonomics Radio 427. The Pros and Cons of Reparations
Jul 23, 2020
Glenn Lowry and Derek Hamilton, both esteemed economists, dive deep into the complex world of reparations. They discuss America’s racial wealth gap, highlighting the historical injustices that still affect Black families. The two tackle the challenges of defining reparations, advocating for innovative solutions like Baby Bonds to invest in future generations. They also emphasize the need for Black ownership and address the hurdles Black entrepreneurs face in emerging markets like cannabis. This thought-provoking conversation navigates moral considerations and practical solutions for equity.
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Reparations Cost and Affordability
- Some find the $14 trillion cost of reparations unrealistic, representing 70% of U.S. GDP.
- Recent pandemic relief demonstrates the government's capacity to generate funds, argues Derek Hamilton.
Lowry's Experience with Racism
- Glenn Lowry, despite progress, still faces racism.
- He recounts an incident with John Kenneth Galbraith at Harvard in 1982 where Galbraith offered a handshake without acknowledging him.
Systemic Racism as a Slogan
- Glenn Lowry views "systemic racism" as a slogan hindering deeper analysis.
- He believes it oversimplifies complex social and historical causal chains, offering a blanket explanation.