The profits derived from slavery bolstered capitalist economies from "summary" of Capitalism & Slavery by Eric Eustace Williams
The economic system of capitalism was greatly influenced by the profits gained from the practice of slavery. This relationship between slavery and capitalism was not merely coincidental but rather deeply intertwined. The profits derived from the exploitation of enslaved individuals played a significant role in fueling the growth and development of capitalist economies.
Slavery provided a cheap and abundant source of labor that was essential for the operation of capitalist enterprises. The forced labor of enslaved individuals allowed capitalist economies to produce goods at a fraction of the cost compared to using paid labor. This cost-saving measure resulted in higher profits for slave owners and capitalist merchants.
Furthermore, the profits generated from ...
Read More
Continue reading the Microbook on the Oter App. You can also listen to the highlights by choosing micro or macro audio option on the app. Download now to keep learning!
Now you can listen to your microbooks on-the-go. Download the Oter App on your mobile device and continue making progress towards your goals, no matter where you are.
