In Capitalism and slavery, Eric Williams examines the rise and fall of slavery and a not so obvious driving force behind it: capitalism. The book begins with how slave economy serves as the boosting economic force to early emerging capitalism countries. Trade routes established in Africa, the West Indies, and the Great Britain contributed to the emerging business enters and ports in the latter.
There are also major families that have amassed enormous riches through the slave trade profits. Early industries such as wool and cotton cannot be separated from cheap slave labor. However, with the increasing production capability in the capitalism world, the early industries were gradually becoming more burdensome than profitable to the Great Britain. This is one of the main economic reasons for the initiation of the emancipation movement.
Between 1783 and 1833, the growing anti-imperialism sentiment and the emerging idea of liberalism and free trade turned against the slave economy, leading to the fall of slavery. At the end of the book, Williams concluded that economic interests are the primary driving force that turn the wheel of history. Without an examination of the economic forces, the political or ethical narration of history is found to be incomplete.
Williams made extensive references to both primary and secondary sources. These references along with the notes contribute greatly to the credibility of the book. The book is divided into two halves, the first deals with the rise of slavery, while the second half deals with the fall of slavery under capitalism influence. Williams provided a thorough analysis of the key monopolized industries in West Indies such as corn and sugar, tracing the origin, production, consumption of these key products and analyzing why they ceased to contribute as the core industries that profited Great Britain.
The influence infiltrated not only the economic and political sectors, but also religion, as Williams quoted extensively from religious preachings under the capitalism influence: “Jesus Christ was Free Trade, and Free Trade was Jesus Christ”. In Chapter 12 “The Slaves and Slavery”, Williams also offered a refreshingly new perspective of the slaves and their perception of the slave economy. Even within the emancipation movement, Williams managed to show that the slaves remained in a passive position and had others in control over their own fate. The immense power of the global capitalism forces that supported free trade and the humanitarian trend in the international society resulted in their emancipation. Ironically, it was their own blood and sweat that led to the growth of these forces.
Being a Trinidadian brings Williams the unique perspective and a powerful voice on the issue of capitalism and slavery. While the mention of the humanitarian issues, such as the cruelty and greed in the way profit was made out of the slave economy, would construct a more emotionally compelling argument, Williams did not put his primary attention to humanitarian issues. Adopting a strictly economic perspective, Williams made an effective effort to make the writing objective, which adds to its credibility. The findings of the book, that economic interests are the main driving force of history, is a highly original point that make up for the common political or ethical perspectives that are incomplete.
In the end of the book, the author has expanded and elevated the theme of the book by arguing that “we have to guard not only against these old prejudices but also against the new which are being constantly created. No age is exempt”. The reason why the book focuses on British capitalism and slavery and is yet titled “Capitalism and Slavery” is because the same conclusion applies to all capitalism systems. This serves a warning to people of all ages, even the present day, that economic forces can and will lead to devastations in humanitarianism. People need to evaluate the long-term consequences of their actions to prevent the historic tragedy from happening again. The only question is: has human beings evolved into a stage where they are willing to give up the short-term interests to defend the long-term good?
In terms of Williams’ views over the abolitionist movement in Great Britain, his arguments are caught with problems of self-contradiction and hasty generalization. Williams’ arguments are based on the assumption that the various stakeholders, such as merchants, business owners, and politicians, find short term interest much more important than the long-term interests. This is why they chose to abandon the slave economy and move onto other industries with no slaves. However, while it was easy for Williams, an economic historian more one hundred years later to evaluate the true economic benefits of emancipation, such benefits may not be immediately obvious to the abolitionists.
They were presented a choice between slavery and emancipation and economic interest, especially the long-term benefit of emancipation to capitalism and free trade, may not be the primary reason for their choice. Therefore, it may be unfair to mock the “ignorance or hypocrisy” of the abolitionist. In addition, the author also made generalizations such as “the abolitionists were not radicals. In their attitude to domestic problems they were reactionary”. There are multiple factors that contributed to the largely unanimous abolition voices, and generalizing them as “reactionary” or economically driven may be inaccurate and incomplete.
However, the flaws in contradiction and generalization do not undermine the importance of the main conclusion. Whether or not the abolitionists were aware of the economic benefits of the emancipation, the possibility of emancipation and the eventual success in abolishing slave trade is inseparable from the shift in economic benefits and the evolution of capitalism.
Both Capitalism and Slavery and the HISA04H3 course aims to make sense of history through capitalism, which is the main driving forces in modern human history. Economic interests have been so omnipresent and dominant ever since humans obtained the technology of sea voyage. In HISA04H3, the course content main deals with the rise of capitalism and how slavery contributed to it by offering cheap labor and natural resources. In Capitalism and Slavery, the author explores both the rise and fall of slavery due to capitalism, or economic forces.
In essence, it offers a reverse perspective of what is presented in the course. In essence, both of them are trying to make sense of the relationship between economy and history. It is an eternally perplexing question regarding which one of them motivates the other. On the one hand, without the riches offered from slave economy, the world capitalism may not have evolved into the current status. On the other hand, without the evolving economic needs for free trade, people may not have pushed through emancipation with such resolution and unanimity. In the end, economy and history constitute a mutually empowering system and the path of human beings is determined by both.
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