The transatlantic slave trade was integral to the development of capitalism from "summary" of Capitalism & Slavery by Eric Eustace Williams
The transatlantic slave trade played a crucial role in the rise of capitalism. The exploitation of African labor was fundamental to the economic success of the Western world. It was through the forced migration and enslavement of African people that European nations were able to amass wealth and power on a global scale. The profits generated from the slave trade fueled the growth of industries such as sugar, tobacco, and cotton, which formed the backbone of the capitalist system. The labor of enslaved Africans provided a cheap and abundant workforce that enabled European merchants and planters to maximize their profits. The brutal conditions under which slaves were forced to work ensured high levels of productivity at minimal cost. This economic model of exploitation laid the foundation for the capitalist mode of production, in which labor is treated as a commodity to be bought and sold for profit. The profits generated fr...
Similar Posts
Slavery provided cheap labor for European capitalists
Slavery, as an institution, played a fundamental role in the development of capitalism in Europe. The exploitation of enslaved ...
Slavery provided cheap labor for European capitalists
Slavery, as an institution, played a fundamental role in the development of capitalism in Europe. The exploitation of enslaved ...
Slavery allowed for the accumulation of wealth by European powers
The institution of slavery was not just about the exploitation of labor, but also about the accumulation of wealth by European ...