Capitalism relied on the brutal exploitation of enslaved Africans from "summary" of Capitalism & Slavery by Eric Eustace Williams
The economic system of capitalism was built on the backs of enslaved Africans. The wealth and power accumulated by European nations during the era of colonization were directly tied to the exploitation of African labor. The transatlantic slave trade provided a cheap and abundant source of labor for capitalist enterprises, allowing for the production of goods at a fraction of the cost. Enslaved Africans were subjected to brutal conditions, forced to work long hours in harsh environments for little to no pay. The profits generated from their labor were used to fuel the growth of industries such as sugar, cotton, and tobacco, which in turn enriched the European elite. The wealth extracted from the labor of enslaved Africans was instrumental in the development of capitalism as a global economic system. The expansion of capitalism relied on the continued exploitation of African labor. Plantation owners and slave traders sought to maximize their profits by increasing the number of enslaved Africans they owned and the amount of labor they could extract from them. This relentless pursuit of profit led to the dehumanization and degradation of enslaved Africans, who were treated as mere commodities to be bought and sold at will. The legacy of this brutal exploitation can still be seen today in the racial inequalities and economic disparities that exist in societies around the world. The wealth and power accumulated through the exploitation of enslaved Africans continue to shape the economic and social structures of modern capitalist societies. It is essential to understand the role that slavery played in the development of capitalism in order to address the ongoing impact of this historical injustice.
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