What was the relationship between Atlantic slavery and the rise of capitalism? Flashcards
What economic returns did the Atlantic slave trade generate?
Approximately 10% returns
This profit contributed to capital accumulation in Europe, particularly in England and the Netherlands.
What were the returns from plantations involved in the Atlantic slave trade?
About 6-8% returns
These profits also contributed to capital accumulation in Europe.
What is the Williams Thesis regarding slavery and capitalism?
Proposed that slavery contributed to capitalism’s rise in two versions: strong thesis and consumer culture development
The strong thesis suggests slave trade super-profits funded the Industrial Revolution.
What does the strong version of the Williams Thesis state?
Slave trade super-profits funded the Industrial Revolution
This emphasizes the financial link between slavery and economic advancement.
What key commodities were central to the modern consumer culture created by Atlantic slavery?
- Sugar
- Tobacco
- Coffee
- Chocolate
- Tea
- Cotton
These commodities transformed labor patterns and household structures in Europe.
How did Atlantic slavery impact property systems?
It transformed property systems and was justified philosophically by John Locke’s labor theory of property
Locke’s connections to the Royal African Company illustrate this justification.
What was the thesis regarding Atlantic slavery’s role in capitalism?
Atlantic slavery was instrumental to the rise of capitalism through substantial economic returns and the creation of a modern consumer culture
This involved key commodities that changed labor patterns and household structures.
What does Equiano’s account reveal about the slave trade?
Describes the systematic nature of the slave trade and the commodification of human beings
Merchants examined enslaved people and treated them as market goods.
How did Equiano illustrate the commodification of humans?
Noted how merchants sorted enslaved people in separate parcels and assessed their physical condition
This highlights the market-like treatment of enslaved individuals.
What does Equiano’s description of being ‘sold after their usual manner’ suggest?
It shows how human bonds were disregarded in favor of property rights and economic efficiency
This reflects the harsh realities of slavery and its impact on human relationships.
Fill in the blank: The Atlantic slave trade generated approximately _______ returns.
10% returns
True or False: The consumer culture created by Atlantic slavery was centered around commodities like sugar and cotton.
True
