The legacy of slavery continues to impact global economic systems from "summary" of Capitalism & Slavery by Eric Eustace Williams
The foundation of modern capitalism was laid upon the backs of enslaved Africans. The transatlantic slave trade was not merely a moral atrocity, but a fundamental economic system that shaped the global economy as we know it today. The legacy of slavery continues to reverberate throughout the world, perpetuating economic disparities between nations and races. The exploitation of African labor enabled European powers to amass vast wealth, laying the groundwork for the industrial revolution and the rise of capitalism. The profits extracted from slave labor were reinvested into industries that fueled further economic growth, creating a cycle of exploitation that continues to impact global economic systems. The social and economic structures that were established during the era of slavery still persist today, perpetuating racial inequality and economic disparities. The exploitation of African labor created a system of wealth accumulation that continues to benefit the descendants of slave owners, while leaving the descendants of slaves trapped in cycles of poverty and disenfranchisement. The legacy of slavery is not just a historical footnote, but a living reality that continues to shape the economic landscape of the world. The inequalities and injustices that were perpetuated through slavery continue to impact global economic systems, creating a legacy of exploitation and inequality that must be reckoned with. The wealth that was extracted from enslaved Africans continues to circulate within the global economy, perpetuating disparities between nations and races. The legacy of slavery continues to manifest in various forms, from systemic racism to economic inequality, highlighting the enduring impact of this dark chapter in human history.
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