From the start, colonial slavery and capitalism were linked. While it is not correct to say that slavery created capitalism, it is correct to say that slavery provided one of the chief sources for the initial accumulations of wealth that helped to propel capitalism forward in Europe and North America.
The clearest example of the connection between plantation slavery and the rise of industrial capitalism was the connection between the cotton South, Britain and, to a lesser extent, the Northern industrial states. Here, we can see the direct link between slavery in the U.S. and the development of the most advanced capitalist production methods in the world. Cotton textiles accounted for 75 percent of British industrial employment in 1840, and, at its height, three-fourths of that cotton came from the slave plantations of the Deep South.
Because racism is woven right into the fabric of capitalism, new forms of racism arose with changes in capitalism. As the U.S. economy expanded and underpinned U.S. imperial expansion, imperialist racism--which asserted that the U.S. had a right to dominate other peoples, such as Mexicans and Filipinos--developed. As the U.S. economy grew and sucked in millions of immigrant laborers, anti-immigrant racism developed. But these are both different forms of the same ideology--of white supremacy and division of the world into "superior" and "inferior" races--that had their origins in slavery.
Thanks for sharing this really interesting and timely piece. Racism and bigotry remain commonplace in the US, and too many people simply ignore it. Worse, many see no problem.
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