Commentary: Capitalism and Slavery by Eric E.

Williams

Slavery and capitalism are terms that have been used politically throughout
history, National Geographic defines slavery as follows: “The deprivation of the right
to think or do what one wants with one's life... legal institution by which a human
being is the property of another.” (Para.1, National Geographic).​
On the other hand, capitalism is often thought of as an economic system in
which private agents own and control property according to their own interest, and
supply and demand set prices freely (Page 1, Jahan, and Mahmud, 2015). However,
the essential characteristic of capitalism is the motivation for profit.
Eric Eustace Williams is the author of a controversial book "Capitalism and
Slavery" which deals with the abolition and emancipation of slavery in the British
West Indies, Capitalism and Slavery (1944), exposed the historiography of the British
transatlantic slave trade and established the contribution of Caribbean slavery to the
development of Britain.
In Chapter 4 of "Capitalism and Slavery" by Eric Williams, titled "The British
West Indies," the author delves into a detailed analysis of the British Caribbean
colonies during the era of slavery and their profound impact on the development of
capitalism. . . Williams explores the economic structure of these colonies, with
particular attention to the critical role played by the sugar plantation system. In this
introduction to chapter 4, Williams sets the stage for his examination of how the
British West Indies, fueled by the economic engine of sugar production and enslaved
labor, contributed significantly to the growth of capitalism in Britain.
He highlights the economic importance of sugar as a highly profitable product
and analyzes the harsh conditions endured by the enslaved Africans who worked on
these sugar plantations. Additionally, Williams highlights the economic
consequences of the British West Indies, specifically Jamaica and Barbados, as
major sources of wealth for Britain. He argues that the profits generated from sugar
production were instrumental in financing the industrialization of Britain and the
broader development of capitalism.

This chapter also briefly addresses the rise of abolitionist movements in Britain,
suggesting that economic factors, such as changes in the profitability of sugar
plantations, played a role in shaping the timeline and nature of these abolitionist
efforts. Ultimately, Williams presents a comprehensive analysis of how the economic
dynamics of the British West Indies became intertwined with the rise of capitalism in
the Western world, making this chapter a critical component of his broader argument
in "Capitalism and Slavery”.
At its core, Eric Williams' "Capitalism and Slavery" underscores the
interconnectedness of triangular trade, British industrialization, and the accumulation
of wealth through the exploitation of enslaved labor. The book argues that the
benefits of slavery were instrumental in driving Britain's economic transformation
during the era of the Industrial Revolution.

4. of the arguments:

William’s thesis marks the fact that there was slavery which was considered one of
the main sources of the economy until before the 19th century when it was markedly
reduced by the practice of industrial capitalism so that people who were in against
slavery thus achieved its purpose being constantly supported before the new means
of commerce without depriving a person of his freedom.

Technology and its industrial advances with modern machinery made the work less
intense, in short put an end to the feudal relations of slavery.

This means that the arguments put forward by William relate the events of that time
and how one movement eradicated another old and cruel one.

5. Approaches/approach

Although other authors have modified and deviated the characteristics of this thesis
they have already been examined, although we can see the example of the work
"The Making of New World Slavery" published in 1997 by Robin Blackburn in which
he argues that capitalism does not replace slavery; on the contrary, it is entering the
corners of modern capitalism.

However, Robert William Fogel and Stanley Engerman produced a detailed

economic analysis in 1974, Time on the Cross. at least to compete favourably with
wage-earning agricultural work and agricultural farmers, if not with large-scale
mechanized agro-industry. Although these findings may have shown that Williams
erred in the driving force of anti-slavery thinking and emancipation (at least in
economic terms)amplified the powerful and lasting effects of slavery on the material
development of capitalism and the modern world. By demonstrating how closely
slave labor resembled wage labor (at least when), amplified the powerful and lasting
effects of slavery on the material development of capitalism and the modern world.
By demonstrating how closely slave labor resembled wage labor (at least when its
profitability is analyzed financially)Fogel and Engerman opened the door for
Blackburn and many others to explore the fluidity between slavery and capitalism as
a conceptual means of organizing work.

What sustains that this thesis is directed mainly to the socioeconomic field
translating the data, analysis and ideas of what the economy represented centuries
ago and how it influences in a very direct way a group of people making practically
the labor and livelihood depend on them what provoked exploitation, That is why it is
not only an economic issue but also a socio-economic one.

6. Possible omissions

As mentioned earlier, slavery did not only represent the (old) labor system, the
worker was also considered as an object or a human machine which provoked
excessive abuse since the more one worked the richer those who were considered
owners of that group of people.

These people were not even considered as such because it was both the growth of
ignorance in people as time passed, that those considered slaves were worth
nothing as a human being and were deprived of rights, and receiving a salary, be
married, be parents because they sold their children, be buried worthily among other
outrages.

However it is mentioned in these theses that capitalism replaced slavery assuming

that a modern system replaced an old labor system, that is old machines changed by
modern industries.

This does not leave him well positioned before the declaration that capitalism has the
protagonism before the lack of rights that the slaves were deprived and does not
mention how benefited those who no longer had life what leaves some questions
without explanation or answers since it mentions post-emancipation as a product of
the lack of profitability that the slaves had, making an involuntary assessment of this
situation.

7. Arguments for or against

If we combine Du Boisian’s thesis of a self-emancipating general strike with a new
twist to the old thesis of William, The problem of freedom (1992) by Thomas Holt
offers a potential way out of this dilemma. Emancipation, for Holt, involves the
constant agitation of slaves, forcing British liberal capitalists to recognize the
ideological incompatibility of a free market capitalism inspired by Adam Smith with
slave labor. In an argument that also refers to American Slavery, Edmond Morgan’s
American Freedom (1975) and American emancipation in general, Holt argues that
freedom (and also various forms of freedom independence) were a constant problem
for an emerging capitalist system.
From this I think that William expresses a reality and that is that capitalism meant an
independence of labor and the putting in laws for their welfare although they
continued working their position had changed but for their benefit.
Although these laws were manipulated in order to erase all democratic hope, making
this dilemma open happened in British politics.

8. Conclusion
As a provisional conclusion, slavery and capitalism could best be described as
inseparable but also irreducible to each other. They should be understood as
distinctive but permanently connected. Certain aspects of each system overlap,
while other parts of each system appear to differ.
The emancipation of slaves was put to a vote in Jamaica and was eliminated due to
political negotiations.

For William these 2 topics dealt with in his thesis should not be considered as one
only if not broken down into the labor, political, economic, among other factors and
not be considered simply as its name indicates (capitalism and slavery) if not go to
the experiences of these slaves to describe them in the best way.