US GDP is about a quarter of that, about 24T. So an estimated reduction in efficiency of 40% (40T -> 24T). Seems high, but maybe not laughably so, to me
digging down to the cited source on US GDP point, honestly seems pretty reasonable
> We discover that closing racial gaps is a pareto improvement to both the U.S. economy and society. If racial gaps for Blacks had been closed 20 years ago, U.S. GDP could have benefitted by an estimated $16 trillion. If we close gaps today, the equivalent add to the U.S. economy over the next five years could be $5 trillion of additional GDP, or an average add of 0.35 percentage points to U.S. GDP growth per year and 0.09 percentage points to global GDP growth per year.
> If racial gaps for Blacks had been closed 20 years ago
A gap is an interval, meaning a spread of outcomes is inevitable in narrowing.
This statement assumes the gap to be closed by raising Black wealth to that of Whites. That's sloppy.
What if the gap is closed by bringing both populations to the median? What if the gap is closed by bringing both populations down to the Black standard?
All three of these are equality of outcome. If there's an argument why the best of these outcomes should be presumed, it hasn't been made.
https://www.bea.gov/news/2022/gross-domestic-product-first-q...