The Development Of Capitalism And The Slavery System

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Capitalism refers to an economic system where a private owner is in control of their own capital goods, investments, and distribution of these goods in a free market. Above all, the goal of capitalism is profit. According to Sven Beckert (2014), many people believe capitalism is about wages, labor, global markets, and how these concepts can work together and create a market that maximizes human freedom for all. This concept is in total contrast with how interconnected slavery is in relation to the beginning of capitalism. Slavery is intricately connected to the development of modern day capitalism and has direct historical, economic, and social influences. For most of history, historians and scholars largely ignored the role slavery played in capitalism. Modern scholars insisted that during the 19th century, the slavery movement was a key part in the development of the American capitalism system. Slavery in America began when the first African slaves were brought to …show more content…
Soon after, there was a huge demand in England for American cotton. This created a transition to a large scale production of cotton and established the dependence on slave labour. The South played an important role in the beginning of capitalism and more than half of the exports consisted of raw cotton, which was grown by slaves. The southern business men viewed slaves as their personal property. The labour was forced and the slaves worked in unbearable conditions. Owners enjoyed complete control of their workers and this was seen as a new method of labour management, and it even included torture to maximize production. It had been said that when the price of cotton rose, the slaves knew because the hours were longer and the whips would crack more often. The end desire was to maximize the

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