“Slavery, colonialism and neo-colonialism have caused inestimable damage to billions of people throughout the world. They have also formed the basis for the accumulation of immense wealth in the hands of a small elite… The slave trade involved the brutal relocation of tens of millions of people in which families, communities and societies were destroyed and in which millions lost their lives in the most inhumane conditions. At the same time, slavery was a fundamental element of the strengthening of mercantile trade and the rapid accumulation of capital that formed the basis for the emergence of the capitalist system as we know it today. Colonial conquest entailed the further oppression of the people of the colonies in the form of
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However the same institution that brought many white and European settlers great fortune, also denied African-Americans their freedom from the opportunity to ever sustain their own economic wealth. In the opening quote the impact of slavery can still be felt throughout the world, where some countries are still in the process of rebuilding their economy after years of inhumane treatment. It is evident that slavery was the backbone of many developing countries, particularly the United States, where much of the economy that exists today was built on the use of free slave labor. Without the benefits that were afforded to slave owners and their business ventures, the market and trade between the North and South would never have been established. In addition to the effects slavery has had on trade during the early colonial period of the United States, slavery also sacrificed the lives and humanity of millions of Africans who crossed the Atlantic so that America could become the great and powerful country that it is today.
The detrimental effects of slavery fostered a severe disparity between black and white wealth in America, where blacks comprise 26% of the people who live in the poverty compared to 8% of whites [Winbush 357]. The United States government has had many chances to correct the lingering effects from slavery. After the Emancipation Proclamation, on January 16th , 1865 the U.S government had the opportunity to change the fate for all freed