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On 8/18/18 3:01 PM, Peggy via Marxism wrote:
made me think of Walter Rodney’s How Europe Underdeveloped Africa.
Rodney, of course, was a Black scholar. It is worth noting once again
that not a single Black scholar has ever embraced Political Marxism.
Rodney's book is online at
http://abahlali.org/files/3295358-walter-rodney.pdf
An excerpt:
The connections between slavery and capitalism in the growth of
England is adequately documented by Eric Williams in his well-known
book Capitalism and Slavery. Williams gives a clear picture of the
numerous benefits which England derived from trading and exploiting
slaves, and he identified by name several of the personalities and
capitalist firms who were the beneficiaries. Outstanding examples are
provided in the persons of David and Alexander Barclay, who were
engaging in slave trade in 1756 and who later used the loot to set up
Barclays’ Bank. There was a similar progression in the case of Lloyds
— from being a small London coffee house to being one of the world’s
largest banking and insurance houses, after dipping into profits from
slave trade and slavery. Then there was James Watt, expressing eternal
gratitude to the West Indian slave owners who directly financed his
famous steam engine, and took it from the drawing-board to the factory.
A similar picture would emerge from any detailed study of French
capitalism and slavery, given the fact that during the 18th century the
West Indies accounted for 20% of France’s external trade-much more
than the whole of Africa in the present century. Of course, benefits
were not always directly proportionate to the amount of involvement of a
given European state in the Atlantic trade. The enormous profits of
Portuguese overseas enterprise passed rapidly out of the Portuguese
economy into the hands of the more developed Western European
capitalist nations who supplied Portugal with capital, ships and trade
goods. Germany was included in this category, along with England,
Holland and France.
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