FINAL EDITED VERSION 8\20\08

Name:

Dexnell Gervais Peters

Form:

Upper Six Arts

School:

Trinity College

Address:

Moka Estate, Maraval,

School email address: [email protected]

How has Capitalism and Slavery shaped current debates on the commerce
in African slaves and the abolition of slavery? What relevance, if any, do
these debates have for todays student?
Capitalism and Slavery has been the most influential scholarly work from a Caribbean
historian about the Caribbean and its relation to the world. Williams took an unorthodox but
highly logical and justified stance on the commerce of African slaves, effects of slavery and the
cause of its abolition. Selwyn H.H. Carrington states that Caribbean history was written from
the Eurocentric perspective associated with the British imperial school of historical writing...they
paid little attention to the contributions of the colonies1 The historical setting is important in
looking at the impact of the publication of Capitalism and Slavery. British colonialism was still
embedded deeply in Caribbean culture. Capitalism and Slavery launched a full scale attack
against this institution with a concrete argument. It is because of this that an over fifty year
debate has ensued. Clearly the book has experienced much success within the Caribbean region
as well as the wider world. None can question the success of the book it is a classic. In the field
of literature classic books are those that stand the test of time and continue to be studied or,
better yet, critiqued many years after their publication. The book has continued to be at the
forefront of the discussion on the commerce of African slaves and the abolition of slavery. In
Williams view, slavery was very profitable but prior to the ending of the slave trade it began to

Selwyn H.H. Carrington, Capitalism & Slavery and Caribbean Historiography: An Evaluation. The Journal of
African American History. Volume 88 No. 3, 2003, p. 304+

decline in profitability. This, in turn, played a major role in the abolition of the slave trade and
slavery. Williams links the commerce of African slaves and the British economy to show
evidence of the development of British capitalism. Therefore, with mature industrial
capitalism2 the stage was now set for the abolition of slavery. Williams pioneered the study of
African slaves, showed the political, social and economic value concerned and allowed for the
expansion of the topic. This may be the reason why the book is still of such significance today.
Many historians will agree that the book touches on a number of important issues outside of its
main concern. Professor Brogan wrote, in an introduction to the book, that he found it was as
topical as it was in 1942.3 Carrington says the study contains several theses and numerous subtheses, which are of as immense importance in this modern era.4 One of the most important
aspects of the book is its universality. Williams speaks about the topic in a manner which can be
applicable to the events of today as well as to other fields of study. It is not only history but
sociology, economics and political science. Capitalism and Slavery still stands up to the scrutiny
that modern historians with modern research technology attempt to give it. Perhaps what is most
interesting is the extent to which the debates over the book have evolved over the years.
The issue of the profitability of slavery was the first to attract attention in the academic
fraternity. This debate is traced from the publication of the book, to the 1970s and the present
day. When the book was in the process of being published, Pitman made the claim that the book

Eric Williams, Capitalism & Slavery, The University North Carolina Press, Chapel Hill, NC, 1994, p. ix.

Eric Williams, Capitalism & Slavery, Andre Deutsch, London 1964, p. ix.

Selwyn H.H. Carrington, Capitalism & Slavery and Caribbean Historiography: An Evaluation. The Journal of
African American History, Volume 88 No. 3., 2003, p. 304+

was not original, stating that the work adds little to what scholars in the field know.5 If Pitman
was referring solely to the decline in the profitability of the slave trade his point is well noted.
Ragatz published a book showing depreciation in the economic value of the slave trade and
slavery. In retrospect, Ragatz was not the first to hold this view. Selwyn Carrington states in an
article that the idea of depreciation in the plantation economy was first put forward by Hall
Pringle. What Williams did was agree with the theory, give further evidence to it and use it in
support of a more macro view of slavery in relation to the world. Therefore, as Palmer puts it,
Pitman failed to appreciate the books refreshing originality.6 In any case, Williams dedicated
the book to Ragatz. Williams also admitted to two works that were of great significance to him; a
thesis, Africa and the Rise of Capitalism by W.E. Williams and The Black Jacobins by C.L.R.
James. Erica Williams Connell stated in an article Williams may have owed an intellectual debt
to these two writers... but he developed and took the relevant ideas in directions perhaps not
necessarily anticipated by either of them.7 Williams agreed with these views, elaborated on
them by stating further evidence and put them into a different and broader perspective which, in
turn, made Capitalism and Slavery a completely advanced and original book.
The decline theory continues to stand its ground through the support of other noteworthy
scholars such as William Darity, Jr.8, David H. Makinson9, Richard B. Sheridan10, Barbara L.

Eric Williams, Capitalism & Slavery, The University North Carolina Press, Chapel Hill, NC, 1994, p. xiii.

Eric Williams, Capitalism & Slavery, The University North Carolina Press, Chapel Hill, NC, 1994, p. 13.

Erica Williams Connell, Introduction: Symposium on the Life and Writings of Eric Williams, The Journal of
African American History, Vol. 88, 2003.
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William A. Darity, Economic Aspects of the British Trade in Slaves: A Fresh Look at the Evidence from the 1789
Report of the Lords of Trade. Capitalism and Slavery Fifty Years Later: Eric Eustace Williams--A Reassessment of
the Man and His Work. Ed. Heather Cateau and S.H.H. Carrington, Peter Lang, Inc., New York 2000, p. 137-153.

Solow11 and David Brion Davis12. They have all in some way or the other helped to further
Williams argument. Davis in an essay wrote that opposition to slavery cannot be divorced from
the vast economic changes occurring at the time.13 In this he supported Williams emphasis on
the economic factor. The decline theory would eventually gain opposition particularly around
the 1970s. In 1968 Roger Anstey would publish a critique of the book. Anstey calculated figures
depicting the profit of the slave trade from 1761 to 1807. He calculated it as 9.5% (8.2%,
12.1%, 10.7%, 13% for the first four decades and 3.3% for the years 1801-1807).14 He believed
that this did not warrant an end to the trade but definitely could not have been enough to be a
major factor in the development of capitalism in Britain. The debate shifted from the discourse
of claims or qualitative evidence to the discourse of quantitative evidence. Seymour Drescher is
described as the most notable antagonist of the decline theory. Davis Brion Davis in a review of
the book From Slavery to Freedom described Drescher as "the historian who [in Econocide,
1979] demolished the long-standing thesis that British abolitionists succeeded only because the
slave colonies were in a state of irreversible decline (1999).15 This quote echoes the sentiments
9

David H. Makinson, Barbados: A Study of North-American-West-Indian Relations, 1739-1789, - London, Mouton,

Richard B. Sheridan, Sugar and Slavery: An Economic History of the British West Indies 1623-1775, University
of the West Indies Press, Kingston, Jamaica, 1994.

11

Barbara L. Solow, Caribbean slavery and British growth: The Eric Williams hypothesis, Journal of Development
Economics, 1985.
12

David Brion Davis, The Problem of Slavery in the Age of Revolution, New York, 1976.

13

David Brion Davis, "Reflections on Abolitionism and Ideological Hegemony," American Historical Review 92,
No. 4, 1987, p. 806.

14

Cedric J. Robinson, Capitalism, Slavery and Bourgeois Historiography. History Workshop Journal, Volume
23, Number 1, 1987, p. 122-140.

15

Palgrave Macmillan, Reviews on From Freedom to Slavery,

of many historians during this period and sometime after. Dreschers main view was that slavery
was, in fact, still quite profitable and, thus still significant to Britain when the abolition of the
slave trade occurred.
The abolition of slavery marks another dimension of the fifty year debate. Anstey, who
attempted to give statistical evidence to show that slavery was still profitable, was an avid
believer that the abolition of the slave trade was solely based on Christian benevolence. Drescher
also gives great significance to the humanitarians. Their main arguments were that if the slave
trade was still profitable then looking at the abolition of slavery from the perspective of
economy, the move was in contradiction to the interests of Britain. Drescher declared that
Williams mistook effects for causes.16 According to Drescher the colonies only lost value
because of the abolition of the slave trade. On the other hand, Drescher did receive criticism as
well. Drescher proves more adept at refuting explanations than devising his own.17 This
statement suggests that Drescher provided a logical opposition without producing a logical,
wider setting as done in Capitalism and Slavery. There seems to be a need to refute Williams
thesis on the commerce of African slaves and the abolition of slavery, possibly due to the insult
to the metropole and its political framework administered by Williams. Nevertheless, this shows
another impact of the book on the topics concerned.
The main consensus of the book would again change as the nineties approached. While
the book might have been somewhat disregarded for some two decades it began to pick up steam
again. A number of critical studies quoting the book began to arise for example, Joel Mokyr in

16

Christopher L. Brown, William and Mary Quarterly, Review of Books, Vol. 57.3, Rutgers University, 2000.

17

Ibid.

1993. Joseph Inikori alluded that the Cold War influenced views on the issues brought forward
by Capitalism and Slavery. He felt that scholars were forced to defend capitalism in every which
way which would inevitably put Williams book in the doghouse. Inikori further linked the book
to the ideals of the commercial revolution which he stated began to be discredited around the
same time of Williams book. He said that when the commercial revolution began to rise again
so too did Capitalism and Slavery. Additionally, the correlation between the commerce of
African slaves and the abolition of slavery with world history has become stronger over the
years. Furthermore, the integration is done seamlessly through the attention that the book
receives.
The idea of African slavery providing a suitable channel for the industrial revolution
brought forward by Williams seems to be the main topic of debate in contemporary times. The
major issue at hand is whether the profits of slavery were large enough to support such a major
revolution. There have been concessions that the Caribbean benefited Britain during the 18th
century. Williams states that the triangular trade was highly profitable - profits in most cases
were trebled. He goes on to show the development of industries through the profit gained from
the triangular trade as well as the demand in the Caribbean for the goods made. Joel Mokyr in
1993 made the point that the industrial revolution was inevitable and if it wasnt for the slave
trade something else would have eventually sparked it. He says that profits from the triangular
trade went back to the Caribbean. In looking at the trend of abandoned plantations during the
industrial revolution as well as the atmosphere of revolt it is difficult to see how profits could
have gone back to the Caribbean. Nevertheless, it can be clearly observed that the debate still has
life in it to this day. Other scholarly works are still being produced from Capitalism and
Slaverys ideas such as Carringtons The Sugar Industry and the Abolition of the Slave Trade,
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1775-1810 (2002). Capitalism and Slavery continues to influence modern thinking. Williams
three main points in Capitalism and Slavery continue to individually receive criticism by various
historians and his initial ideas continue to expand as new debates arise. The book is so thorough
that it constantly attracts opposition as many seek to take it apart at the core.
Capitalism and Slavery had a phenomenal impact on the Caribbean region. Williams
blatantly attacked imperialism and relayed to the world the role of Caribbean people in the
development of Britain and the abolition of slavery. The predominant Eurocentric notions
pertaining to slavery were usurped, at least in the Caribbean. The highlighting of the economic
decline in the Caribbean encouraged other Caribbean historians and writers to be as bold in
challenging the existing perspectives on slavery. It has been said that Walter Rodney was highly
influenced by this work. This provides evidence of how this book has impacted those entering
the historical academic field in the Caribbean.
Todays student of history does indeed have a lot to benefit from the ongoing debates on
the issue of the commerce of African slaves and the abolition of slavery. Furthermore, Williams
had a lasting effect on the contemporary setting of the world. The conclusion of the book lays
this out for us. He states that his study can be used as a module for explaining the behaviour of
political systems. He bluntly states that most, if not all decisions, have some association to the
fiscal feasibility of it. Students can now read Capitalism and Slavery and use the implications of
it to further explain the events of world history.
Prior to this study, the issue of the commerce of African slaves and the abolition of
slavery was not a major area of contention. The Eurocentric view that the abolitionists freed the
slaves out of a still thriving plantation economy was the norm. Of course, Williams view would
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completely refute this and further create a specific area of specialisation within the field of both
world and Caribbean history. The plethora of books and articles written after Capitalism and
Slavery has created a great amount of detail on the topic. Today Capitalism and Slavery and its
critical counterparts occupy special attention in courses at universities worldwide. The inclusion
of African studies as a subject owes some gratitude to Capitalism and Slavery.
Most importantly, students of Caribbean history now have a specialised course to study
modules specifically dealing with issues arising from Capitalism and Slavery. Capitalism and
Slavery and its counterparts allow a greater understanding of the Caribbean. Regardless of the
credibility of either side, students of Caribbean history can now experience accelerated and
continuous insight into the history of their region. European and American history have always
dominated the historical field of study, more so, because of the continuous exhaustive research
and analysis that is done. Capitalism and Slavery has encouraged continuous exhaustive research
and analysis about the Caribbean from the world and among Caribbean historians and students.
Furthermore, in this still very discriminatory world, todays student can feel motivated
about the study of Caribbean history. Williams was a very opinionated historian who challenged
the orthodox estimations of the Caribbean. According to Williams we can assert that the
Caribbean played a major part in the development of the modern world.
It may be that if Williams book was never a reality, the Caribbean perspectives from it
and from what arose would have remained subjugated history to this day. We would have still
been subjected to European history in our educational system.
Capitalism and Slavery can be observed as one of the main works which defines the
colonial history of the Caribbean region. This book can be considered the starting point to the
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eventual liberation of the Caribbean from its physical imperial shackles. Williams touches on a
plethora of topics in this book regarding the economic, social and political environment of
slavery and the industrial revolution.
Williams was highly critical of the political system which in his conclusion he relates to
today and the decisions that are made by many governments. Decisions, whether queer, popular
or unpopular, according to Williams are based primarily on economic factors.
Capitalism and Slavery is an academically appealing book that still invites debate among
contemporary historians debate that continues to change over time. The early stages saw debate
on whether slavery was profitable due mainly to Williams assertion that subsequent to the
ending of the slave trade, slavery was not profitable. This is not to say Williams was the first to
bring this point to attention. He was, however, the first to bring it about in such a context and
with a greater degree of qualitative analysis. It is this approach that has allowed greater
discussion. New associations continue to be made, for example, many people relate the book to
the opinions of Karl Marx. David Gaspar states that this book marks the beginning of the
scientific study of slavery from the international point of view and shows the necessity for a
definitive study of slavery in all parts of the new world."18
The book has stood the test of time. J.E. Inikori observed: That the Williams thesis has
been subjected to repeated attack since the 1950s indicates that the critics are not convinced that
their attacks have been effective.19 Despite the many efforts by historians in support to defend
18

David Barry Gaspar, They "Could Never Have Too Much of My Work": Eric Williams and the Journal of Negro
History, 1940-1945. The Journal of African American History, Vol. 88, 2003.

19

J.E. Inikori, 'Market Structure and the Profits of the British African Trade in the
Late Eighteenth Century', Journal of Economic History, XLI, 4, 1981, p 746.

Capitalism and Slavery, the book itself continues to be its main defence. Ergo, Capitalism and
Slavery will continue to shape debates on the commerce of African slaves and the abolition of
slavery.

Bibliography
Brown, Christopher. "Review of From Slavery to Freedom: Comparative Studies in the Rise and Fall of Atlantic
Slavery" William and Mary Quarterly, Review of Books 57.3, Rutgers University 2000.
Carrington, Selwyn H.H. "Capitalism & Slavery and Caribbean Historiography: An Evaluation." The Journal of
African American History 88.3 (2003): 304+.
Cateau, Heather, and S. H. H. Carrington, eds. Capitalism and Slavery Fifty Years Later: Eric Eustace Williams -A Reassessment of the Man and His Work. New York: Peter Lang, 2000.
Connell, Erica Williams. "Introduction: Symposium on the Life and Writings of Eric Williams." The Journal of
African American History 88.3 (2003): 269+.
David, Davis Brion. "Reflections on Abolitionism and Idelogical Hegemony,"
American Historical Review. 92.4, 1987, p. 806.
Gaspar, David Barry. "They "Could Never Have Too Much of My Work": Eric Williams and the Journal of Negro
History, 1940-1945." The Journal of African American History 41.4 (2003): 291+.
Inikori, J.E. "Market Structure and the Profits of the British African Trade in the
Late Eighteenth Century." The Journal of Economic History 88.3 (1981): p. 746.
Moore, Brian L., B. W. Higman, Carl Campbell, and Patrick Bryan, eds. Slavery, Freedom and Gender: The
Dynamics of Caribbean Society. Jamaica: University of the West Indies Press, 2001.
Palgrave Macmillan, Reviews on From Freedom to Slavery,
http://www.palgrave.com/products/title.aspx?PID=258851, 1999
Robinson, Cedric. Capitalism, Slavery and Bourgeois Historiography, History Workshop Journal, 23.1, 1987, p.
122-140.
Williams, Eric. Capitalism & Slavery. Andre Deutsch, London, 1964.
Williams, Eric. Capitalism & Slavery. The University North Carolina Press, Chapel Hill, North Carolina, 1994.

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