Without understanding the history of slavery and colonialism, we cannot understand the extent to which societies today are shaped by systemic racism, unfair distribution of assets, inequality and violence – and how all of these have led to despair, marginalisation and disenfranchisement in parts of the population.
Yes, it’s extremely complex but necessary. A lot of decisions in our societies and economies have been influenced by implicit biases based on race, gender, age, etc. which hurt those discriminated against. And with the upcoming rise of artificial intelligence these biases will creep also into the algorithms.
I also wonder if a higher and stricter but still progressive inheritance tax would be one of the simplest ways to slow down wealth inequality over time. Will take several generations.
Had conversation with a friend who will inherit a farm about this. He brought up the “If I had to pay 60% tax on inheriting the farm I’d have to sell it” argument. I pointed out that you could easily get a mortgage on the farm to pay the 60% tax and it’s more like you’re getting a farm you did nothing to earn for a 40% discount.