Chat-GPT4 finds world economy will thrive if formerly-colonised are recompensated

This is a second article in a series on speculative data aesthetics. For more information about this project see rita.care.

I asked Chat-GPT4 how the world economy might be effected if the former colonial powers in Europe and North America recompensed their former colonies for the damages they caused and all the wealth they extracted. Chat-GPT4’s answers are all here in italics.

Speculating on the impact of former colonial powers in Europe and North America recompensing their former colonies involves numerous complex factors. However, the primary economic effects can be broadly categorized into direct financial transfers, increased investments in infrastructure and education, debt relief, and sustainable development initiatives. These measures would likely result in significant economic growth and improvements in quality of life in former colonies, while also affecting the economies of the former colonial powers.
Key Factors to Consider:

• Direct Financial Transfers:
  - Large sums of money would be transferred from former colonial powers to former colonies as reparations.
  - These funds could be used for infrastructure development, healthcare, education, and other critical areas.
• Increased Investments:
  - Recompensation could lead to increased investments in infrastructure, technology, and human capital in former colonies.
  - Improved infrastructure and education would lead to higher productivity and economic growth.
• Debt Relief:
  - Writing off or reducing debt owed by former colonies to former colonial powers.
  - Freed resources could be redirected towards development projects and social programs.
• Sustainable Development Initiatives:
  - Investments in sustainable energy, agriculture, and conservation could foster long-term economic and environmental benefits.
  - Collaboration on global issues like climate change could be enhanced.
• Economic Impact on Former Colonial Powers:
  - Large financial outflows could impact public finances and economies of former colonial powers.
  - However, improved global economic stability and growth could create new opportunities for trade and investment.

I then asked Chat-GPT4 to produce a datavisualisation based on its findings.

• Visualization Plan:
  1. Global GDP Growth: Comparison of GDP growth rates before and after recompensation.
  2. Quality of Life: Improvements in health, education, and infrastructure in former colonies.
  3. Debt Relief: Impact of debt relief on economic stability and development.
  4. Trade and Investment: Changes in trade patterns and investment flows.

Categories and Insights:

1. Global GDP Growth:
   - Before Recompensation: Impact score of 60
   - After Recompensation: Impact score of 90

• Insight: Significant increase in global GDP growth due to economic stimulus in former colonies and increased global economic stability.

2. Quality of Life:
- Before Recompensation: Impact score of 40
- After Recompensation: Impact score of 80

• Insight: Major improvements in health, education, and infrastructure in former colonies, leading to enhanced quality of life.

3. Debt Relief:
- Before Recompensation: Impact score of 30
- After Recompensation: Impact score of 70

• Insight: Substantial debt relief allows former colonies to invest in development projects and social programs.

4. Trade & Investment:
- Before Recompensation: Impact score of 50
- After Recompensation: Impact score of 85

• Insight: Increased trade and investment flows due to improved economic conditions and stability in former colonies, benefiting the global economy.

Conclusion:

Recompensation from former colonial powers to their former colonies could lead to substantial economic benefits, including enhanced global GDP growth, improved quality of life, significant debt relief, and increased trade and investment. This hypothetical scenario highlights the potential positive impacts of addressing historical economic injustices and fostering a more equitable global economic system.

The results are clear! The world economy will be far more resilient and dynamic if the formerly-colonized nations get a fresh start!
I then asked ChatGPT-4 to compare the economic impacts on the former colonizers (Global North) and on the formerly colonized (Global South) of the compensation scenario vs. a status quo scenario.

Hypothetical Impact of Recompensation vs. Status Quo:
Global South

Economic Growth:
Recompensation:
— Significant increase in GDP growth due to financial transfers, debt relief, and investments.
— Diversification of economies and improved productivity.
Status Quo:
— Continued slow growth with persistent economic challenges and dependence on a few sectors.

Income Inequality:
Recompensation:
— Reduction in income inequality through social programs and poverty alleviation.
— Improved access to education, healthcare, and economic opportunities.
Status Quo:
— High levels of income inequality with limited social mobility and access to services.

Investment and Infrastructure:
Recompensation:
— Enhanced infrastructure development and increased foreign direct investment.
— Better transportation, healthcare, and educational facilities.
Status Quo:
— Insufficient investment in infrastructure, leading to poor services and limited economic growth.

Social Stability:
Recompensation:
— Improved social stability due to reduced poverty and better access to social services.
— Lower levels of social unrest and conflict.
Status Quo:
— Persistent social instability due to high poverty levels and lack of opportunities.

Global Trade and Cooperation:
Recompensation:
— Increased integration into global trade networks and cooperation.
— Enhanced export opportunities and economic partnerships.
Status Quo:
— Limited integration into global trade and cooperation, with barriers to growth.

Global North

Economic Growth:
Recompensation:
— Short-term financial outflows but long-term benefits from a more stable and prosperous global economy.
— New markets and investment opportunities in the Global South.
Status Quo:
— Continued dominance but potential risks from global economic instability and crises.

Income Inequality:
Recompensation:
— Redistribution of wealth may reduce global income inequality.
— Potential for more balanced economic development.
Status Quo:
— Persistently high global income inequality, with concentrated wealth in developed countries.

Investment and Infrastructure:
Recompensation:
— Opportunities for infrastructure and investment projects in the Global South.
— Enhanced global supply chains and trade routes.
Status Quo:
— Limited investment opportunities, with focus on maintaining current infrastructure and economic zones.

Social Stability:
Recompensation:
— Global stability promotes security and reduces the risks of conflicts and refugee crises.
— Potential for a more cooperative international environment.
Status Quo:
— Social instability in the Global South may lead to global security challenges and increased migration pressures.

Global Trade and Cooperation:
Recompensation:
— Strengthened global trade networks and economic partnerships.
— Mutual benefits from cooperative economic policies.
Status Quo:
— Dominance in global trade but potential isolation and reduced cooperation with developing countries.

Conclusion:

• Global South: Recompensation significantly improves economic growth, reduces income inequality, enhances investment and infrastructure, improves social stability, and fosters greater global trade and cooperation.
• Global North: While there might be short-term financial outflows, long-term benefits include new investment opportunities, improved global infrastructure, enhanced social stability, and stronger global trade networks.

This comparison highlights the substantial positive impacts of recompensation on the Global South and the potential long-term benefits for the Global North, contributing to a more resilient and equitable global economy.

Again the results are incontestable. As economist Jason Hickle described in “The Case for Reparations” the whole world will benefit from the release of the majority of the world from debt servitude and the economic legacy of colonialism. The fact that this evident general benefit is being delayed or ignored only shows that there are many in power who will not be well served by what would otherwise be a massive net boon for the vast majority of the world.