The transatlantic slave trade was a cornerstone of capitalist expansion from "summary" of Capitalism & Slavery by Eric Eustace Williams
The emergence and expansion of capitalism in the Western world were directly intertwined with the transatlantic slave trade. This brutal system of human exploitation provided the economic foundation upon which capitalist societies flourished. The forced migration of millions of Africans to the Americas laid the groundwork for the accumulation of vast wealth and the rise of global superpowers. The transatlantic slave trade was not merely a byproduct of capitalism; it was a driving force behind the expansion of markets, the growth of industries, and the accumulation of capital. The profits generated from the trade in enslaved Africans fueled the development of industries such as sugar, cotton, and tobacco, which in turn enriched European and American merchants and investors. The wealth extracted from the labor of enslaved people provided the capital needed to finance further economic expansion and technological innovation. The commodification of human beings as property was a fundamental aspect of capitalist economies during this period. Enslaved Africans were treated as mere units of labor, bought and sold like any other commodity. Their bodies were exploited for profit, their lives reduced to a means of production for the benefit of their owners. The system of chattel slavery created a profitable cycle of exploitation that enriched a small elite at the expense of countless lives. The transatlantic slave trade not only fueled the growth of capitalist economies but also perpetuated systems of racial hierarchy and oppression. The dehumanization of enslaved Africans justified their brutal treatment and exploitation, reinforcing racist ideologies that continue to shape societies today. The legacy of slavery continues to inform global economic disparities, social injustices, and persistent inequalities. In order to fully understand the history of capitalism and its impact on the world, it is essential to acknowledge the central role that the transatlantic slave trade played in shaping modern economic systems. The exploitation of enslaved Africans was not a peripheral aspect of capitalist expansion but a cornerstone upon which the edifice of global capitalism was built. Only by confronting this painful legacy can we begin to address the systemic inequalities and injustices that persist in our societies today.
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