Slaverys Capitalism

During the nineteenth century, the United States entered the ranks of the world's most advanced and dynamic economies. At the same time, the nation sustained an expansive and brutal system of human bondage. This was no mere coincidence. Slavery's Capitalism argues for slavery's centrality to the emergence of American capitalism in the decades between the Revolution and the Civil War. According to editors Sven Beckert and Seth Rockman, the issue is not whether slavery itself was or was not capitalist but, rather, the impossibility of understanding the nation's spectacular pattern of economic development without situating slavery front and center. American capitalism—renowned for its celebration of market competition, private property, and the self-made man—has its origins in an American slavery predicated on the abhorrent notion that human beings could be legally owned and compelled to work under force of violence. Drawing on the expertise of sixteen scholars who are at the forefront of rewriting the history of American economic development, Slavery's Capitalism identifies slavery as the primary force driving key innovations in entrepreneurship, finance, accounting, management, and political economy that are too often attributed to the so-called free market. Approaching the study of slavery as the originating catalyst for the Industrial Revolution and modern capitalism casts new light on American credit markets, practices of offshore investment, and understandings of human capital. Rather than seeing slavery as outside the institutional structures of capitalism, the essayists recover slavery's importance to the American economic past and prompt enduring questions about the relationship of market freedom to human freedom. Contributors: Edward E. Baptist, Sven Beckert, Daina Ramey Berry, Kathryn Boodry, Alfred L. Brophy, Stephen Chambers, Eric Kimball, John Majewski, Bonnie Martin, Seth Rockman, Daniel B. Rood, Caitlin Rosenthal, Joshua D. Rothman, Calvin Schermerhorn, Andrew Shankman, Craig Steven Wilder.

Slavery's Capitalism explores the role of slavery in the development of the U.S. economy during the first decades of the nineteenth century. It tells the history of slavery as a story of national, even global, economic importance and investigates the role of enslaved Americans in the building of the modern world.

With Slavery, Capitalism, and Women's Literature, Kristin Allukian makes an important contribution to slavery and capitalism scholarship by including the voices of some of the best-known nineteenth-century American women writers. Women's literature offers crucial and previously unconsidered economic insights into the relationship between slavery and capitalism, different from those we typically find in economics and economic histories. Allukian demonstrates that because women's imaginative and creative texts take the material-historical connection of slavery and capitalism as their starting point, they can be read for the more speculative extensions of that connection, extensions not possible to discover on a material-historical level. Indeed, Allukian contends, these authors and texts disclose unique economic insights, critiques, and theories in ways that are only possible through literary writing. The writers featured in this study-Harriet Beecher Stowe, Lucy Larcom, Harriet Jacobs, and Frances Ellen Watkins Harper-published written accounts of the continuities between slavery and capitalism including between language and activism, accounting and sentimentalism, labor and technology, race and property, and inheritance and reparations. Their essays, novels, poems, and autobiographies provided forums to document data, stimulate debate, generate resistance, and imagine alternatives to the United States' developing capitalist economy, engined and engineered by slavery. Without their unique economic insights, the national narrative we tell about the relationship between slavery and capitalism is incomplete.

The role of slavery in driving Britain's economic development is often debated, but seldom given a central place. In their remarkable new book, Maxine Berg and Pat Hudson ‘follow the money’ to document in revealing detail the role of slavery in the making of Britain’s industrial revolution. Slavery was not just a source of wealth for a narrow circle of slave owners who built grand country houses and filled them with luxuries. The forces set in motion by the slave and plantation trades seeped into almost every aspect of the economy and society. In textile mills, iron and copper smelting, steam power, and financial institutions, slavery played a crucial part. Things we might think far removed from the taint of slavery, such as eighteenth-century fashions for indigo-patterned cloth, sweet tea, snuff boxes, mahogany furniture, ceramics and silverware, were intimately connected. Even London’s role as a centre for global finance was partly determined by the slave trade as insurance, financial trading and mortgage markets were developed in the City to promote distant and risky investments in enslaved people. The result is a bold and unflinching account of how Britain became a global superpower, and how the legacy of slavery persists. Acknowledging Britain’s role in slavery is not just about toppling statues and renaming streets. We urgently need to come to terms with slavery’s inextricable links with Western capitalism, and the ways in which many of us continue to benefit from slavery to this day.

'It's often said that books are compulsory reading, but this book really is compulsory. You cannot understand slavery, or British Empire, without it' Sathnam Sanghera Arguing that the slave trade was at the heart of Britain's economic progress, Eric Williams's landmark 1944 study revealed the connections between capitalism and racism, and has influenced generations of historians ever since. Williams traces the rise and fall of the Atlantic slave trade through the eighteenth and nineteenth centuries to show how it laid the foundations of the Industrial Revolution, and how racism arose as a means of rationalising an economic decision. Most significantly, he showed how slavery was only abolished when it ceased to become financially viable, exploding the myth of emancipation as a mark of Britain's moral progress. 'Its thesis is a starting point for a new generation of scholarship' New Yorker

Publisher description for Slavery, capitalism, and politics in the antebellum Republic / John Ashworth

The Price of Slavery analyzes Marx’s critique of capitalist slavery and its implications for the Caribbean thought of Toussaint Louverture, Henry Christophe, C. L. R. James, Aimé Césaire, Jacques Stephen Alexis, and Suzanne Césaire. Nick Nesbitt assesses the limitations of the literature on capitalism and slavery since Eric Williams in light of Marx’s key concept of the social forms of labor, wealth, and value. To do so, Nesbitt systematically reconstructs for the first time Marx’s analysis of capitalist slavery across the three volumes of Capital. The book then follows the legacy of Caribbean critique in its reflections on the social forms of labor, servitude, and freedom, as they culminate in the vehement call for the revolutionary transformation of an unjust colonial order into one of universal justice and equality.

"Focuses on networks of people, information, conveyances, and other resources and technologies that moved slave-based products from suppliers to buyers and users." (page 3) The book examines the credit and financial systems that grew up around trade in slaves and products made by slaves.

This collection examines slavery and its relationship to international capital during the nineteenth century. With thematic chapters and case studies written by an international array of contributors, this volume analyzes the historiography of Atlantic slavery and investigates the slave economies of the US South, Cuba, and Brazil.

In this thoughtful book, Dale W. Tomich explores the contested relationship between slavery and capitalism. Tracing slavery's integral role in the formation of a capitalist world economy, he reinterprets the development of the world economy through the "prism of slavery." Through a sustained critique of Marxism, world-systems theory, and new economic history, Tomich develops an original conceptual framework for answering theoretical and historical questions about the nexus between slavery and the world economy. The author explores how particular slave systems were affected by their integration into the world market, the international division of labor, and the interstate system. He further examines the ways that the particular "local" histories of such slave regimes illuminate processes of world economic change. His deft use of specific New World examples of slave production as local sites of global transformation highlights the influence of specific geographies and local agency in shaping different slave zones. Tomich's cogent analysis of the struggles over the organization of work and labor discipline in the French West Indian colony of Martinique vividly illustrates the ways that day-to-day resistance altered the relationship between master and slave, precipitated crises in sugar cultivation, and created the local conditions for the transition to a post-slavery economy and society.

Publisher description for Slavery, capitalism, and politics in the antebellum Republic / John Ashworth

Any serious consideration of Asian American life forces us to reframe the way we talk about racism and antiracism. The current emphasis on racial identity obscures the political economic basis that makes racialized life in America legible. This is especially true when it comes to Asian Americans. This book reframes the conversation in terms of what has been called ""racial capitalism"" and utilizes two extended case studies to show how Asian Americans perpetuate and resist its political economy.

The proceedings of a conference on Caribbean slavery and British capitalism are recorded in this volume. Convened in 1984, the conference considered the scholarship of Eric Williams & his legacy in this field of historical research.

Due to the enormous influence of Adam Smith’s The Wealth of Nations on Western liberal economics, a tradition closely linked to the United States, many scholars assume that early American economists were committed to Smith’s ideas of free trade and small government. Debunking this belief, Christopher W. Calvo provides a comprehensive history of the nation’s economic thought from 1790 to 1860, tracing the development of a uniquely American understanding of capitalism. The Emergence of Capitalism in Early America shows how American economists challenged, adjusted, and adopted the ideas of European thinkers such as Adam Smith, David Ricardo, and Thomas Malthus to suit their particular interests. Calvo not only explains the divisions between American free trade and the version put forward by Smith, but he also discusses the sharp differences between northern and southern liberal economists. Emergent capitalism fostered a dynamic discourse in early America, including a homegrown version of socialism burgeoning in antebellum industrial quarters, as well as a reactionary brand of conservative economic thought circulating on slave plantations across the Old South. This volume also traces the origins and rise of nineteenth-century protectionism, a system that Calvo views as the most authentic expression of American political economy. Finally, Calvo examines early Americans’ awkward relationship with capitalism’s most complex institution—finance. Grounded in the economic debates, Atlantic conversations, political milieu, and material realities of the antebellum era, this book demonstrates that American thinkers fused different economic models, assumptions, and interests into a unique hybrid-capitalist system that shaped the trajectory of the nation’s economy.

Capitalism has been a controversial concept. In the second half of the 20th century, many historians have either not used the concept at all, or only in passing. Many regarded the term as too broad, holistic and vague or too value-loaded, ideological and polemic. This volume brings together leading scholars to explore why the term has recently experienced a comeback and assess how useful the term can be in application to social and economic history. The contributors discuss whether and how the history of capitalism enables us to ask new questions, further explore unexhausted sources and discover new connections between previously unrelated phenomena. The chapters address case studies drawn from around the world, giving attention to Europe, Africa and beyond. This is a timely reassessment of a crucial concept, which will be of great interest to scholars and students of economic history.

Words like “colonialism” and “empire” were once frowned upon in the U.S. and other Western mainstream media as worn-out left-wing rhetoric that didn’t fit reality. Not anymore! Tatah Mentan observes that a growing chorus of right-wing ideologues, with close ties to the Western administrations’ war-making hawks in NATO, are encouraging Washington and the rest of Europe to take pride in the expansion of their power over people and nations around the globe. Africa in the Colonial Ages of Empire is written from the perspective that the scholarly lives of academics researching on Africa are changing, constantly in flux and increasingly bound to the demands of Western colonial imperialism. This existential situation has forced the continent to morph into a tool in the hands of Colonial Empire. According to Tatah Mentan, the effects of this existential situation of Africa compel serious academic scrutiny. At the same time, inquiry into the African predicament has been changing and evolving within and against the rhythms of this “new normal” of Colonial Empire-Old or New. The author insists that the long and bloody history of imperial conquest that began with the dawn of capitalism needs critical scholarly examination. As Marx wrote in Capital: “The discovery of gold and silver in America, the extirpation, enslavement and entombment in mines of the aboriginal population, the beginning of the conquest and looting of the East Indies, the turning of Africa into a warren for the commercial hunting of black-skins, signaled the rosy dawn of the era of capitalist production. These idyllic proceedings are the chief moment of primitive accumulation.” Africa in the Colonial Ages of Empire is therefore a MUST-READ for faculty, students as well as policy makers alike in the changing dynamics of their profession, be it theoretically, methodologically, or structurally and materially.

In the troubled days before the American Civil War, both Northern protectionists and Southern free trade economists saw political economy as the key to understanding the natural laws on which every republican political order should be based. They believed that individual freedom was one such law of nature and that this freedom required a market economy in which citizens could freely pursue their particular economic interests and goals. But Northern and Southern thinkers alike feared that the pursuit of wealth in a market economy might lead to the replacement of the independent producer by the wage laborer. A worker without property is a potential rebel, and so the freedom and commerce that give birth to such a worker would seem to be incompatible with preserving the content citizenry necessary for a stable, republican political order. Around the resolution of this dilemma revolved the great debate on the desirability of slavery in this country. Northern protectionists argued that independent labor must be protected at the same time that capitalist development is encouraged. Southern free trade economists answered that the formation of a propertyless class is inevitable; to keep the nation from anarchy and rebellion, slavery—justified by racism—must be preserved at any cost. Battles of the economists such as these left little room for political compromise between North and South as the antebellum United States confronted the corrosive effects of capitalist development. And slavery's retardant effect on the Southern economy ultimately created a rift within the South between those who sought to make slavery more like capitalism and those who sought to make capitalism more like slavery.

This book provides a concise and accessible history of the relationship between the individual and capitalism in the United States. The text is devoted to tracking the historical development of important themes, whilst addressing key episodes in the progress of American capitalism within these, such as the Great Depression and New Deal. The book will introduce students to the key philosophical principles that have been the most influential in the history of free enterprise in the United States as well as exploring the ways in which these ideas have been popularly understood by Americans from the late eighteenth century to the present. Liberalism and Neoliberalism, entrepreneurialism, slavery and racial capitalism, and business and gender are all assessed. The material in this volume is complimented by a set of primary source documents that bring the subject to life. It will be of interest to students of American history, business and labor history.