University of Pennsylvania Press
Slavery's Capitalism
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About this book
During the nineteenth century, the United States entered the ranks of the world's most advanced and dynamic economies. At the same time, the nation sustained an expansive and brutal system of human bondage. This was no mere coincidence. Slavery's Capitalism argues for slavery's centrality to the emergence of American capitalism in the decades between the Revolution and the Civil War. According to editors Sven Beckert and Seth Rockman, the issue is not whether slavery itself was or was not capitalist but, rather, the impossibility of understanding the nation's spectacular pattern of economic development without situating slavery front and center. American capitalism—renowned for its celebration of market competition, private property, and the self-made man—has its origins in an American slavery predicated on the abhorrent notion that human beings could be legally owned and compelled to work under force of violence.
Drawing on the expertise of sixteen scholars who are at the forefront of rewriting the history of American economic development, Slavery's Capitalism identifies slavery as the primary force driving key innovations in entrepreneurship, finance, accounting, management, and political economy that are too often attributed to the so-called free market. Approaching the study of slavery as the originating catalyst for the Industrial Revolution and modern capitalism casts new light on American credit markets, practices of offshore investment, and understandings of human capital. Rather than seeing slavery as outside the institutional structures of capitalism, the essayists recover slavery's importance to the American economic past and prompt enduring questions about the relationship of market freedom to human freedom.
Contributors: Edward E. Baptist, Sven Beckert, Daina Ramey Berry, Kathryn Boodry, Alfred L. Brophy, Stephen Chambers, Eric Kimball, John Majewski, Bonnie Martin, Seth Rockman, Daniel B. Rood, Caitlin Rosenthal, Joshua D. Rothman, Calvin Schermerhorn, Andrew Shankman, Craig Steven Wilder.
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Frontmatter
i -
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Contents
vii -
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Introduction
1 - Part I. Plantation Technologies
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Chapter 1. Toward a Politi cal Economy of Slave Labor
31 -
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Chapter 2. Slavery’s Scientific Management
62 -
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Chapter 3. An International Harvest
87 - Part II. Slavery and Finance
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Chapter 4. Neighbor- to- Neighbor Capitalism
107 -
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Chapter 5. The Contours of Cotton Capitalism
122 -
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Chapter 6. “Broad is de Road dat Leads ter Death”
146 -
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Chapter 7. August Belmont and the World the Slaves Made
163 - Part III. Networks of Interest and the North
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Chapter 8. “What have we to do with slavery?”
181 -
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Chapter 9. “No country but their counting- houses”
195 -
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Chapter 10. The Coastwise Slave Trade and a Mercantile Community of Interest
209 - Part IV. National Institutions and Natural Boundaries
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Chapter 11. War and Priests
227 -
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Chapter 12. Capitalism, Slavery, and the New Epoch
243 -
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Chapter 13. The Market, Utility, and Slavery in Southern Legal Thought
262 -
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Chapter 14. Why Did Northerners Oppose the Expansion of Slavery?
277 -
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Notes
299 -
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Contributors
385 -
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Index
389 -
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Acknowledgments
405