Capitalism thrived on the forced labor of enslaved people from "summary" of Capitalism & Slavery by Eric Eustace Williams
The fundamental basis of capitalism as an economic system is the pursuit of profit through the utilization of labor. In the context of the transatlantic slave trade and plantation economies, this pursuit of profit was achieved through the exploitation of enslaved people. These individuals were forcibly taken from their homes, stripped of their freedom, and subjected to harsh working conditions in order to generate wealth for their captors.
The profitability of slavery was directly linked to the coerced labor of enslaved people. Plantation owners sought to maximize their profits by extracting as much work as possible from their enslaved workforce, often through brutal means. The system of slavery allowed for the accumulation of wealth on a massive scale, as enslaved people were considered property to be bought, sold, and exploited for the financial gain of their owners.
The institution of slavery was not simply a byproduct of capitalism, but rather a vital component that enabled the system to thrive. The forced labor of enslaved people provided a cheap and abundant source of labor that fueled the growth of capitalist economies in the Americas. The profits generated from slave labor were reinvested into industries and infrastructure that further enriched the ruling class, creating a cycle of exploitation and wealth accumulation that perpetuated the system of slavery.
The exploitation of enslaved people for economic gain was not a peripheral issue within the capitalist system, but rather a central feature that enabled its expansion and success. The wealth and power amassed through the forced labor of enslaved people laid the foundations for modern capitalism, shaping the economic structures and social hierarchies that continue to influence society today. The legacy of slavery as a driving force behind capitalist economies serves as a stark reminder of the human cost of unchecked greed and exploitation.
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