Global Reparations within Capitalism: Aspirations and Tensions in Contemporary Movements for Reparatory Justice

The idea of global reparations has received increasing attention in recent years, not only with respect to legacies of slavery and colonialism, but also to interrelated issues such as climate change, debt crisis, or ongoing financial transfers from the Global South to the Global North. This article, which introduces and sets the Debate for the 2024 Forum issue on the political economy of 21st century global reparations, offers a critical perspective on contemporary global reparations agendas, including their macroeconomic and development implications for the Global South. It highlights the contentious, unresolved questions about how reparations movements should interact with the highly unequal structures of global capitalism. To what degree should they seek large redistributive gains within these structures, or else aim for more revolutionary standpoints which reject these structures? If the former, would this compromise any hope for reparations to be truly transformative and able to address the challenges presented by global white supremacy? The hope of reparations movements is to make progressive gains that could become the catalyst for more transformative changes on a global scale. At the same time, sympathetic critics question whether reparations are feasible or should be a primary focus of advocacy for achieving racial and climate justice on national as well as global levels. In outlining these points of debate, the article also considers the questions of how to make global reparations work for recipients, and how to finance them. It concludes by elaborating on the challenge of moving towards a more developmentalist emphasis of ‘systemic reparations’.