Estimating The Slavery Reparation and The US Economy Post Abolishing Slavery

Abstract

This paper conducts comprehensive analyses to estimate the overall reparation for 246 years of slavery with over 9.79 million slaves and over 410,403 million labor hours of slavery. We separated the overall reparation between the United States and the United Kingdom since the origin of slavery was during the British occupation till the United States revolution. We found that the overall reparation stands at least at $20 trillion, where $6 trillion are due by the British and the rest of $14 trillion on the United States government. Our analyses and measurement of reparation is robust and statistically significant. We also analyze the US economy in the period post abolishing slavery and find that actually the inflation and unemployment went down, and the GDP grow fast, which means the abolishment accelerate the US economy growth.

Keywords: Slavery and Reparation; Post Slavery Abolishing Slavery; US Economy and Slavery

JEL Classification: B1; B2; G12; G10; N3