“Through torture and punishment slave owners extracted greater efficiencies from slaves which allowed the United States to seize control of the world market for cotton, the key raw material of the Industrial Revolution, and become a prosperous and powerful nation.
Cotton was to the early 19th century, what oil was to the 20th century: the commodity that determined the wealth of nations. Cotton accounted for a staggering 50 percent of US exports and ignited the economic boom that America experienced. America owes its very existence as a first world nation to slavery.
In the abstract, capitalism and slavery are fundamentally counterposed systems. One is based on free labor, and the other, on forced labor. However, in practice, Capitalism itself would have been impossible without slavery.”
Especially when you consider we (blacks) were not only the labor forced or free, but it’s first commodity. It is our collective ignorance of the roots of capitalism that allows us to cheer, live vicariously though and seek to emulate black millionaires and billionaires who prosper in the very system that enslaved/exploited our ancestors. And prefer that over building our own.
How Slaves Built American Capitalism – CounterPunch.org
Today marks the 150th anniversary of the abolition of slavery in America and contrary to popular belief, slavery is not a product of Western capitalism; Western capitalism is a product of slavery. The expansion of slavery in the first eight decades after American Independence drove the evolution and…