IDEAS home Printed from https://ideas.repec.org/a/cup/jglhis/v15y2020i2p225-244_2.html
   My bibliography  Save this article

Slavery and the new history of capitalism

Author

Listed:
  • Burnard, Trevor
  • Riello, Giorgio

Abstract

The new history of capitalism (NHC) places a great deal of emphasis on slavery as a crucial world institution. Slavery, it is alleged, arose out of, and underpinned, capitalist development. This article starts by showing the intellectual and scholarly foundations of some of the broad conclusions of the NHC. It proceeds by arguing that capitalist transformation must rely on a global framework of analysis. The article considers three critiques in relation to the NHC. First, the NHC overemphasizes the importance of coercion to economic growth in the eighteenth century. We argue that what has been called ‘war capitalism’ might be better served by an analysis in which the political economy of European states and empires, rather than coercion, is a key factor in the transformation of capitalism at a global scale. Second, in linking slavery to industrialization, the NHC proposes a misleading chronology. Cotton produced in large quantities in the United States came too late to cause an Industrial Revolution which, we argue, developed gradually from the latter half of the seventeenth century and which was well established by the 1790s, when cotton started to arrive from the American South. During early industrialization, sugar, not cotton, was the main plantation crop in the Americas. Third, the NHC is overly concentrated on production and especially on slave plantation economies. It underplays the ‘power of consumption’, where consumers came to purchase increasing amounts of plantation goods, including sugar, rice, indigo, tobacco, cotton, and coffee. To see slavery’s role in fostering the preconditions of industrialization and the Great Divergence, we must tell a story about slavery’s place in supporting the expansion of consumption, as well as a story about production

Suggested Citation

  • Burnard, Trevor & Riello, Giorgio, 2020. "Slavery and the new history of capitalism," Journal of Global History, Cambridge University Press, vol. 15(2), pages 225-244, July.
  • Handle: RePEc:cup:jglhis:v:15:y:2020:i:2:p:225-244_2
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1740022820000029/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mark Stelzner & Sven Beckert, 2024. "The contribution of enslaved workers to output and growth in the antebellum United States," Economic History Review, Economic History Society, vol. 77(1), pages 137-159, February.
    2. Walker Wright, 2022. "Illiberal economic institutions and racial intolerance in the United States," Economic Affairs, Wiley Blackwell, vol. 42(2), pages 307-326, June.
    3. Palma, Nuno & Papadia, Andrea & Pereira, Thales & Weller, Leonardo, 2020. "Slavery and development in nineteenth century Brazil," CAGE Online Working Paper Series 523, Competitive Advantage in the Global Economy (CAGE).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jglhis:v:15:y:2020:i:2:p:225-244_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/jgh .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.