Reparations -- Yes? (was Re: Joy In Horowitzville)

[Forstater, Mathew]

Richard America is not waiting for the end of capitalism to actualize
reparations. And I think he sees this kind of estimation process as lending
support to the cause--even by 'market' standards of reparations are in order.

-----Original Message-----
From: Doug Henwood [mailto:dhenwood at panix.com]
Sent: Thursday, March 22, 2001 1:17 PM
To: lbo-talk at lists.panix.com
Subject: RE: Reparations -- Yes? (was Re: Joy In Horowitzville)

Forstater, Mathew wrote:


>Richard America's procedure
>
>1. Study the historical economic relations between Africans and Europeans
>2. Estimate the "fair" rates of interest, exchange, returns, etc.
>3. Establish the actual rates of interest, returns, etc.
>4. Estimate the difference between the fair and actual rates--this will be the
>amount needing repair.
>5. Estimate the present value of the reparations using compound interest.
>6. Devise means of repair.
>
>See his essay in Thomas Boston's _A Different Vision_, Routledge.

So, contra Yoshie, all this talk of rates of return and compound 
interest makes it a capitalist model of reparations.

Doug