Essay on Capitalism And Slavery By Eric Eustace Williams

1165 Words Nov 7th, 2016 5 Pages
"Capitalism & Slavery," was written by Eric Eustace Williams and first published in 1944. Eric Williams ' book was considered years ahead of its time when it was publicated. In the preface of his book, Williams clearly asserts that his work "is not a study of the institution of slavery but of the contribution of slavery to the development of British capitalism." His work takes an economic view of history, which is at the core of his arguments and therefore essential to understanding how his arguments and ideas are ultimately formulated. The author sums it up best, when he clearly states that his work is, "first a study in English economic history and second in West Indian and Negro history. His main thesis is that, "the commercial capitalism of the eighteenth century was built up on slavery and monopoly, while the Industrial capitalism of the nineteenth century destroyed slavery and monopoly." Economics was at the core of Williams ' thesis; it connects slavery, the rise of British capitalism, African slave trade and the emancipation of slave in the Caribbean. The triangular trade involved trade between England, North America, the West Indies and England in the eighteenth century. The triangular trade would be crucial in the development of British industry, which would cause the Industrial revolution. This industrial revolution was financed through the, "accumulation of capital," from salves, the key component of the labor demanding plantations. Unlike elite…

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