Article citationsMore>>

Hadavi, T. (2020). Support for a Program to Pay Reparations to Descendants of Slaves Is Gaining Momentum, But Could Come with a $12 Trillion Price Tag. CNBC.
https://www.cnbc.com/2020/08/12/slavery-reparations-cost-us-government-10-to-12-trillion.html

has been cited by the following article:

• TITLE: From Plantation Ledgers to Corporate Balance Sheets: How Slavery in the United States Led to the Modern Managerial Accounting System and the Modern US Economy

  AUTHORS: Celine Ebert

  KEYWORDS: Financial Accounting, Slavery, Managerial Accounting, Economy, History, United States

  JOURNAL NAME: Open Journal of Business and Management, Vol.12 No.4, July 26, 2024

  ABSTRACT: This paper explores the profound impact of slavery on the development of modern managerial accounting systems and the American economy. Starting in 1619 with the arrival of the first enslaved Africans in Virginia, slavery rapidly became integral to the colonial economy. By the mid-19th century, innovative accounting practices among Southern plantation owners, such as those documented by Thomas Walter Peyre, demonstrated sophisticated management of slave labor and productivity, influencing modern business practices. The transatlantic slave trade significantly contributed to the economic growth of the United States, with slave-grown cotton becoming a primary export driving the Industrial Revolution. Post-Civil War, the legacy of slavery continued to shape economic policies and business management. Today, the remnants of these practices are evident in modern accounting standards and the ongoing discourse on reparations for descendants of enslaved individuals. This study highlights the need to address historical injustices through strategic reforms and transparent accounting practices.