A new look at slavery

Today's Vox includes a substantial article by P.R. Lockhart on slavery   It's based on a recent book by Edward E. Baptist,  The Half Has Never Been Told: Slavery and the Making of American Capitalism.  It has a provocative thesis, that slavery was the first modern big business, which was vital to the growth not just of the American South, but of the entire USA.  

Here's a excerpt from Lockhart :

Of the many myths told about American slavery, one of the biggest is that it was an archaic practice that only enriched a small number of men.

The argument has often been used to diminish the scale of slavery, reducing it to a crime committed by a few Southern planters, one that did not touch the rest of the United States. Slavery, the argument goes, was an inefficient system, and the labor of the enslaved was considered less productive than that of a free worker being paid a wage. The use of enslaved labor has been presented as premodern, a practice that had no ties to the capitalism that allowed America to become — and remain — a leading global economy.

But as with so many stories about slavery, this is untrue. Slavery, particularly the cotton slavery that existed from the end of the 18th century to the beginning of the Civil War, was a thoroughly modern business, one that was continuously changing to maximize profits.

To grow the cotton that would clothe the world and fuel global industrialization, thousands of young enslaved men and women — the children of stolen ancestors legally treated as property — were transported from Maryland and Virginia hundreds of miles south, and forcibly retrained to become America’s most efficient laborers. As they were pushed into the expanding territories of Mississippi and Louisiana, sold and bid on at auctions, and resettled onto forced labor camps, they were given a task: to plant and pick thousands of pounds of cotton.

 

The bodies of the enslaved served as America’s largest financial asset, and they were forced to maintain America’s most exported commodity. In 60 years, from 1801 to 1862, the amount of cotton picked daily by an enslaved person increased 400 percent. The profits from cotton propelled the US into a position as one of the leading economies in the world, and made the South its most prosperous region. The ownership of enslaved people increased wealth for Southern planters so much that by the dawn of the Civil War, the Mississippi River Valley had more millionaires per capita than any other region.

In recent years, a growing field of scholarship has outlined how America — through the country’s geographic growth after the American Revolution and enslavers’ desire for increased cotton production — created a complex system aimed at monetizing and maximizing the labor of the enslaved. In the cotton fields of the Deep South, this system rested on the continuous threat of violence and a meticulous use of record-keeping. The labor of each person was tracked daily, and those who did not meet their assigned picking goals were beaten. The best workers were beaten as well, the whip and other assaults coercing them into doing even more work in even less time. 

Read that again:  

The best workers were beaten as well,
 

As overseers and plantation owners managed a forced-labor system aimed at maximizing efficiency, they interacted with a network of bankers and accountants, and took out lines of credit and mortgages, all to manage America’s empire of cotton. An entire industry, America’s first big business, revolved around slavery.

“The slavery economy of the US South is deeply tied financially to the North, to Britain, to the point that we can say that people who were buying financial products in these other places were in effect owning slaves, and were extracting money from the labor of enslaved people,” says Edward E. Baptist, a historian at Cornell University and the author of The Half Has Never Been Told: Slavery and the Making of American Capitalism.

 This makes me want to teach Early Modern History again...