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Capitalism and Slavery, Third Edition

by Eric Williams

Slavery, commerce, and industrial capitalism

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AlbakiReads Editorial

Slavery, commerce, and industrial capitalism

Eric Williams examines how the wealth generated by the African slave trade and plantation economies contributed to Britain’s Industrial Revolution and the expansion of capitalism. The book links commercial fortunes to the growth of banking and heavy industry, while also tracing how industrial capitalism later helped bring the slave system to an end. Its argument joins economic history to a critique of claims about moral and economic progress, and considers the relationship between commercial exploitation and racial attitudes. This third edition includes a foreword by William A. Darity Jr. and an introduction by Colin Palmer, which places Williams’s work and the scholarly debates around it in context.

Good fit for readers who enjoy

  • Readers interested in the economic history of slavery and the Industrial Revolution
  • Readers studying capitalism, imperialism, and European economic development
  • Readers seeking historical arguments about slavery, commerce, and racial attitudes

Themes

African slave tradeIndustrial RevolutionCapitalism and economic developmentCommercial exploitation and racial attitudes

Based on publisher information and book metadata.

Book overview

Slavery helped finance the Industrial Revolution in England. Plantation owners, shipbuilders, and merchants connected with the slave trade accumulated vast fortunes that established banks and heavy industry in Europe and expanded the reach of capitalism worldwide. Eric Williams advanced these powerful ideas in Capitalism and Slavery, published in 1944. Years ahead of its time, his profound critique became the foundation for studies of imperialism and economic development. Binding an economic view of history with strong moral argument, Williams's study of the role of slavery in financing the Industrial Revolution refuted traditional ideas of economic and moral progress and firmly established the centrality of the African slave trade in European economic development. He also showed that mature industrial capitalism in turn helped destroy the slave system. Establishing the exploitation of commercial capitalism and its link to racial attitudes, Williams employed a historicist vision that set the tone for future studies.

William A. Darity Jr.'s new foreword highlights Williams's insights for a new generation of readers, and Colin Palmer's introduction assesses the lasting impact of Williams's groundbreaking work and analyzes the heated scholarly debates it generated when it first appeared.
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