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Capitalism

 

August 19, 2019 - Vox

How slavery became America’s first big business

How slavery became America’s first big business

Historian and author Edward E. Baptist explains how slavery helped the US go from a "colonial economy to the second biggest industrial power in the world."

The bodies of the enslaved served as America’s largest financial asset, and they were forced to maintain America’s most exported commodity. In 60 years, from 1801 to 1862, the amount of cotton picked daily by an enslaved person increased 400 percent. The profits from cotton propelled the US into a position as one of the leading economies in the world, and made the South its most prosperous region.

Read more at Vox


Capitalism — Feature Articles

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