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Fred's view is similar to Thomas Sowell's. Sowell is an economist who has written extensively on issues related to racial relations, civil rights, and affirmative action. In Preferential Policies he writes:
The wrongs of history have been invoked by many groups in many countries as a moral claim for contemporary compensation. Much emotional fervor goes into such claims but the question here is about their logic or morality. Assuming for the sake of argument that the historical claims are factually correct, which may not be the case in all countries, to transfer benefits between two groups of living contemporaries because of what happened between two sets of dead people is to raise the question whether any sufferer is in fact being compensated. Only where both wrongs and compensation are viewed as collectivized and inheritable does redressing the wrongs of history have a moral, or even a logical, basis.
The biological continuity of the generations lends plausibility to the notion of group compensation --but only if guilt can be inherited. Otherwise there are simply windfall gains and windfall losses among contemporaries, according to the accident of their antecedents.
Reference: Thomas Sowell, Preferential Policies, p. 148.