Black History
EFFECTS OF CAPITALISM ON BLACK ECONOMICS
History of Slavery and Capitalism
Capitalism Effects on Black Economics in the United States
Capitalism Effects on Black Economics in Cuba
BLACK HISTORY
EFFECTS OF CAPITALISM ON BLACK ECONOMICS
History of Slavery and Capitalism
The ancient slave history besides the humanitarian aspect is considered a stigma on the so-called civilized society of the West. America's slave population was 33,000 in the 17th century, nearly three million in the 18th century. It later rose up to six million in mid of 18th century. During this journey towards passage to the New World period more than a million died.
The English colonialism is considered responsible for the promotion of the Atlantic trade and slave plantation system. The profits of slavery were mainly to serve the English economy. England's sole economic position helped the establishment of these colonies. The capitalist transformation of agriculture assisted in creating land less laborers that was available in the form of wage labor in England. The transformation of the English economy assisted in introducing a market for the new goods in these colonies. Earlier, this labor was based on wages and applied in the new plantations in Barbados and elsewhere. British emigrants were contracted to work as servants for plantation for a specific time after which they were set free to seek other jobs.
The contract servants confronted huge amounts of hardships on the farming jobs. The work was very hard, where as the out come in the shape of wages was very less. Moreover, the Escaped servants were made to serve double time for their farm owners. Repeating escape attempts could lead to the branding of a servant. The servant was considered the property of the contractor and was regarded on the basis of amount of tobacco or sugar that produced before the expiration of their contracts.
In those days, the landowners suffered the problems regarding product and farmers. For the increasing demand for the production of plantation exports, they needed more farmers. However, the servants on the contract basis could not guarantee and meet the needs of the system. Meanwhile the stories of the barbaric behavior on part of the landowners discouraged volunteers to get into contract system. Hence, the growing need for secure supplies of labor shifted their attention more inclined towards African slavery. Therefore, by the middle of seventeenth century sufficient growth of the slave farmers in the English Caribbean was seen.
In 1943, Eric Williams was the first to explain the rise of Capitalism and Slavery. He categorically explained the whole phase of enslavement that started form local Indian populations, then the use of white contract laborer till the phase of black slavery.
The origin of black slavery basically lay with the economic factor. The racial motive had nothing to do with the color of the skin, but it was primarily because the black labor was very cheap with respect to white labor.
Initially slavery had no relations with racism rather racism was the by-product of slavery, however with the passage of time slavery developed to produce racist social formations and ideologies.
The extremely strict ideology of the colonialism meant that the landowners always faced the possibility of revolt. Since the blacks and whites servants worked together the possibility of joint actions were imminent.
The authorities were frightened by such possibilities. More and more laws were passed to enforce cultural segregation. These steps facilitated racial solidarity among the white colonists. Therefore the low paid whites also started considering themselves as a part of the privileged white race. The racial color exempted them from slavery and they managed special treatments viz. A viz blacks. The landowners' were afraid of resistance and revolt from the black rebellion. This is how slavery was crucial and new racial differences emerged in the American society.
The term Slavery became a symbol of recognition for black Africans. Consequently, the blacks were identified as slaves or potential slaves. The most intense form of racial divisions was evident in the Caribbean and North American colonies. However, in Spain, Portugal and France there was a far bigger influx of black population. Blacks in these countries started demanding certain basic rights. In the English colonies such a glaring racial boundaries were not tolerated to emerge and thus the number of free blacks remained small.
Williams' work was the hypothesis that the profits of the 'triangular trade' between Europe, Africa and the New World had "made an enormous contribution to Britain's industrial development"
Capitalism and Slavery)
The discussion on the changeover to capitalism has seemed to focus on the internal economic...
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Once they arrived, they were brought to a slave market and usually auctioned off to the highest bidder just as cattle and horses were auctioned off. The slaves then spent their lives of servitude helping white farm and plantation owners in their agricultural operations. The slaves weren't typically compensated and lived in deplorable conditions. Slavery helped many white land owners become rich, and the southern colonies, which turned into
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