The passage provides a guide to further reading on the topics discussed,
particularly focusing on the relationship between Africa's contribution to
European development, capitalism, slavery, and racism. Here are the key points
from the reading list:
"Capitalism and Slavery" by Eric Williams: This book examines the direct
connection between British capitalism and the enslavement of Africans, offering
precise and detailed analysis.
"Capitalism as a System" by Oliver Cox: Cox argues that capitalism has been an
international system from its early days, emphasizing its global nature.
"The Suppression of the Atlantic Slave-Trade to the United States of America-
1638-1870" by W. E. B. Du Bois: Du Bois provides data on how African labor
contributed to the development of capitalism in the United States during the era
of slavery.
"Yankees and Creoles: the Trade between North America and the West Indies before
the American Revolution" by Richard Pares: This book offers insights into the
economic relationship between North America and the West Indies before the
American Revolution, shedding light on the role of African labor.
"Man's Worldly Goods: The Story of the Wealth of Nations" by Leo Huberman:
Huberman's book provides an overall treatment of the development of capitalism
in Europe, with a section highlighting the role of slavery.
"Economic Liberalism and Underdevelopment" by F. Clairemonte: This study
recognizes the contribution of the Indian subcontinent to Europe's development.
"The Image of Africa" by Philip D. Curtin and "White Over Black: American
Attitudes towards the Negro" by Winthrop Jordan: These texts delve into the rise
of white racism, although they may not explicitly connect racism with
capitalism.
Overall, these readings offer diverse perspectives on the complex interplay
between capitalism, slavery, racism, and Africa's role in European development.
They provide valuable insights into the historical and ideological dimensions of
these phenomena.These excerpts highlight the interconnectedness of European
trade, colonization, and economic development, particularly in relation to
Africa. They underscore how European powers leveraged their colonies, including
those in America and Africa, to bolster their own economies and maintain
dominance in global trade networks. Additionally, they shed light on the
exploitation of African resources, including human labor through the slave
trade, which contributed to Europe's economic growth while perpetuating
underdevelopment in Africa. Furthermore, they emphasize the importance of
understanding development and underdevelopment as dialectically related
processes, shaped by historical interactions and power dynamics.These passages
further illuminate the exploitative nature of European trade with Africa during
the colonial era. European merchants profited by offloading surplus or unwanted
goods onto African markets, including items like old textiles, outdated
firearms, and discarded goods. This trade was primarily determined by European
production and consumption patterns, with little consideration for African needs
or preferences.
Additionally, the excerpts highlight the unequal power dynamics within the
international trading system, where European nations wielded significant
decision-making authority. European laws and regulations governed maritime
trade, often to the detriment of Africans who were treated as mere commodities.
The slave trade is depicted as a stark example of this exploitation, where
Africans were forcibly taken from their homelands to serve as laborers in the
Americas.
Moreover, the pursuit of gold in Africa, particularly along the Gold Coast,
further demonstrates Europe's economic interests in the continent. While gold
was a valuable commodity, the primary export from Africa remained enslaved
individuals, highlighting the continent's role as a supplier of human labor for
European colonial ventures.
Overall, these passages underscore the systematic exploitation and subjugation
of Africa by European powers for economic gain, perpetuating underdevelopment
and dependency within the continent.
Walter Rodney's "How Europe Underdeveloped Africa" discusses the immense profits
Europeans gained from engaging in the slave trade. He mentions the significant
monetary returns derived from the exploitation of African labor, citing examples
such as John Hawkins' profitable voyages to West Africa in the 1560s. Despite
occasional failed voyages, the overall profitability of the slave trade
justified its continuation for centuries. Rodney also highlights the role of
African resources, such as gold and silver, in fueling Europe's capitalist
economy and financing further colonial expeditions.The passage discusses how
Africa's exploitation contributed to the accumulation of capital in Western
Europe, impacting various sectors such as shipping, insurance, agriculture, and
technology. For example, African resources like indigo, camwood, and ivory
played vital roles in European industries, while the trade with Africa
accelerated Europe's technological advancements, particularly in shipbuilding.
The profitability of overseas trade with Africa and India helped finance
European innovations, enabling them to surpass other maritime powers and
dominate global trade routes.The passage discusses the significant role of
African trade in stimulating economic growth and technological advancements in
Western Europe during the seventeenth, eighteenth, and nineteenth centuries. It
highlights how the profits from slavery and slave trade contributed to the rise
of seaport towns like Bristol, Liverpool, and Nantes, which in turn facilitated
the emergence of manufacturing centers and the Industrial Revolution.
Additionally, it mentions specific examples of individuals and capitalist firms,
such as the Barclays and Lloyds, who benefited from slave trade profits and
established successful businesses. The passage also underscores the
transnational links within the Western European economy, fueled by commerce
derived from Africa and the Americas. Furthermore, it emphasizes the role of
African trade in transforming Western Europe from a feudal to a capitalist
society, accelerating agricultural and industrial developments, and contributing
to real development and increased capacity for further growth and independence.
Lastly, it briefly mentions the impact of slavery and slave trade on the
economic development of the United States, particularly in the Northern colonies
and commercial ports.The passage explores the intertwined relationship between
slavery, capitalism, and racism, particularly focusing on their impacts on
European and American societies. It discusses how American economic development,
especially in the early to mid-nineteenth century, relied heavily on foreign
commerce, with slavery playing a crucial role, particularly in the production of
cotton. Additionally, it highlights how trade with Africa and the West Indies
stimulated various industries in New England, such as shipbuilding, and
contributed to the growth of towns and cities.
Moreover, the passage delves into the role of slavery in shaping racial
prejudice and ideology, emphasizing how centuries of enslavement inevitably led
to notions of superiority and the rationalization of exploitation in racist
terms. It argues that racism became deeply embedded in European capitalist
society, influencing everything from theology to biology, and serving to justify
the oppression of African peoples for economic reasons.
Furthermore, the passage addresses the contradiction between the ideals of
democracy and freedom propagated by European powers, particularly during events
like the French Revolution, and their practices of oppression and exploitation,
particularly in colonial contexts. It argues that capitalism did not develop
democracy abroad but rather perpetuated hypocrisy and exploitation, especially
within the ruling class.
Overall, the passage provides a critical analysis of the interplay between
slavery, capitalism, and racism, highlighting their profound and enduring
impacts on both European and American societies.
