Scott Alexander critiques Ezra Klein's argument that white Americans have benefited from compound interest on wealth stolen from African Americans, citing evidence that wealth rarely persists across generations. Longer summary

Scott Alexander critiques an article by Ezra Klein on Vox about compound interest and reparations. Klein argues that white Americans have benefited from centuries of compound interest on wealth stolen from African Americans. Scott challenges this view with two main arguments. First, he points out that former slave-owning states are now among the poorest in the US. Second, he cites research showing that wealth rarely persists across more than a few generations. Scott discusses studies on social mobility and a Cherokee land lottery to support his point that family wealth tends to regress to the mean over time. He concludes by criticizing Vox for oversimplifying a complex issue and ignoring important research in economics and sociology. Shorter summary