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Capitalism and Slavery: A Historical Perspective, Third Edition

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Capitalism and slavery have been inextricably linked throughout history. From the earliest days of capitalism, the exploitation of enslaved labor played a central role in the accumulation of wealth and the development of global trade. In this revised and expanded third edition of Capitalism and Slavery, historian Eric Williams provides a comprehensive and thought-provoking analysis of this complex relationship.

Williams argues that capitalism and slavery are not merely compatible, but that they are mutually reinforcing systems. He traces the historical development of both systems, showing how they evolved together and how they shaped each other. He also examines the ways in which capitalism has justified and perpetuated slavery, and the ways in which slavery has contributed to the development of capitalism.

Capitalism and Slavery, Third Edition

by Eric Williams

4.7 out of 5

Language	:	English
File size	:	3032 KB
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Print length	:	261 pages

The Economic Foundations of Slavery

Williams begins by exploring the economic foundations of slavery. He argues that slavery is a system of production based on the exploitation of unpaid labor. Enslaved people are forced to work without compensation, and their labor is used to generate profits for their owners. This system of exploitation is essential to the profitability of capitalism.

Williams shows how slavery was used to create a cheap and reliable labor force for the capitalist system. In the early days of capitalism, enslaved people were used to work on plantations in the Americas, where they produced sugar, cotton, and other commodities that were in high demand in Europe. As capitalism spread to other parts of the world, slavery was used to exploit labor in a variety of industries, including mining, manufacturing, and construction.

The Social and Political Context of Slavery

Williams also examines the social and political context of slavery. He shows how slavery was justified and perpetuated by a variety of social and political institutions. These institutions included laws that defined enslaved people as property, social norms that dehumanized enslaved people, and political systems that protected the interests of slave owners.

Williams argues that slavery was not simply a matter of economic exploitation. It was also a system of social control and oppression. Slave owners used their power to control the lives of enslaved people, and they used violence to enforce their authority. Slavery also had a devastating impact on the families and communities of enslaved people.

The Impact of Slavery on Capitalism

In addition to exploring the economic and social foundations of slavery, Williams also examines the impact of slavery on capitalism. He argues that slavery played a central role in the development of capitalism, and that it contributed to the rise of the West. Slavery provided a cheap and reliable labor force for capitalist enterprises, and it helped to accumulate wealth in the hands of a small number of capitalists.

Williams also shows how slavery shaped the social and political development of capitalism. He argues that slavery created a class of wealthy slave owners who had a disproportionate amount of power and influence in society. This class of slave owners used their power to protect their interests, and they helped to create a political system that was favorable to capitalism.

In Capitalism and Slavery, Eric Williams provides a comprehensive and thought-provoking analysis of the historical connections between capitalism and slavery. He shows how these two systems evolved together, how they shaped each other, and how they have had a profound impact on the world. Williams's book is an essential read for anyone who wants to understand the history of capitalism and its relationship to slavery.

References

Williams, Eric. Capitalism and Slavery. Chapel Hill: University of North Carolina Press, 1994.
Genovese, Eugene D. Roll, Jordan, Roll: The World the Slaves Made. New York: Vintage Books, 1974.
Davis, David Brion. The Problem of Slavery in Western Culture. Ithaca: Cornell University Press, 1966.

Capitalism and Slavery, Third Edition

by Eric Williams

4.7 out of 5