The Political Economy of Reparations and the Dialectic of Transnational Capitalism

Abstract

The contemporary global capitalist crisis provides the context for studying reparations, the struggles for which face uphill challenges, foremost because transnational capital will only engage with reparations to serve its own interests. Far from being a panacea for historical wrongs, reparations campaigns are shaped by the historical logics of capitalist accumulation and the liberal racial social contract. The cases of Namibia and the Commonwealth Caribbean (CARICOM) that are examined in this study highlight the contradictions that underpin the demand for reparations arising from genocide in Namibia and capitalist slavery in the CARICOM region. The cases reveal an association of reparations initiatives with buying complicity or capitalist fixes rather than reparative justice for historical grievances, while more autonomous demands for reparations face violent suppression, as in the case of Haiti. Today's reparations struggles are further undermined by revolutionary innovations in digital and robotics technology, confronting exploited racialized populations with a rapidly dwindling supply of jobs. This article locates the contemporary reparations debate within the wider context of global capitalism and its racialized liberal foundations, tracing the links between colonial wrongs, international power relations and ongoing systems of capitalist accumulation which reparations are used to stabilize rather than challenge. It is thus difficult to make a case for the transformational potential of reparations.