Slavery allowed for the accumulation of wealth by European powers from "summary" of Capitalism & Slavery by Eric Eustace Williams
The institution of slavery was not just about the exploitation of labor, but also about the accumulation of wealth by European powers. Slavery provided a cheap and abundant source of labor that allowed European countries to extract resources from their colonies at a minimal cost. The profits generated from these resources were then used to fuel the growth of capitalism in Europe. Slavery enabled European powers to amass vast amounts of wealth through the production of commodities such as sugar, cotton, and tobacco. These commodities were in high demand in Europe and fetched high prices in the market. The labor of enslaved Africans was crucial in the production of these commodities, as they were forced to work long hours for little to no pay. The wealth gener...
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