Topic: The impact of the Atlantic Trade System on the birth of capitalism. Thesis Statement: The Atlantic Slave Trade played a significant role in the birth and development of capitalism in a positive way in Western World. Slaves sold as a property for profit and these profits contributed to the growth of modern finance and also slave labor in the plantation for Atlantic trade contributed to the development of capitalism in a way that it enabled more production and stimulated the economy of time. 1ST MAIN IDEA: Growth of the slave plantation gave rise to increase in labor and contributed to growing more fertile and abundant product. So, profits from plantations provided economic development and industrialization such as the increasing of the general prosperity.
There, labour was needed and labour was available but in different places. The need for labour sprang from the inherent demographic difference between the Americas and South Asia, from the impact of European expansion and from the specific labor tasks that the colonists required. The Atlantic slave trade paid much attention to the role of the slave trade in British North America and West Indian colonies. According to Kenneth Morgan (2007: 18) “the transatlantic slave trade was an important business enterprise within the British Empire for nearly a century and a half, from the restoration of the Stuart monarchy in 1660 until the trade was abolished in 1807”. In this period the slave trade and its capital turnover made a substantial contribution to the economic development of the British Empire.
Agriculture was another economic sector that benefited from the Columbian Exchange ,as the influx of newly discovered agricultural items flooded the marketplace,leaving farmers very wealthy. The center for agriculture was in Britain,a powerhouse of anything related to crops,livestock and spices. The British Empire was the dominant power in world politics and trade. The discovery of lucrative crops such as tobacco and
After the start of industrial revolution, European economy dramatically grew and their demands for new markets, new materials, labors promptly increased, which caused colonial expansion. An superiority of the whites over other groups also emerged from that (Hobsbawm, 70). Therefore, when small and weak countries fell under control of European empires and became their colonies, the indigenous not only were forced to give up their freedom but also human rights. The Haitian revolution, therefore lighted up a belief about independence for those people and for their own
Sugar started as the most grown crop because there was an ever-growing sweet-tooth in Europe and the Mediterranean. As the slave owners realized they were getting free labor, they decided to start farming other things such as cotton, rice, and tobacco plantations. This made the Atlantic Slave Trade very different to other types of trade that had occurred in the
At the start of the 17th century, the first English people to settle in colonial America expected to establish a trade factory with the native peoples as previously done in Sierra Leone, Morocco and India. They expected to trade precious metals, fruits and anything else that could be traded. However, what they embarked upon was extremely rich soil that hinted off the abundance of agricultural wealth just waiting to be exploited. Nevertheless, this agricultural wealth also came with the requirement of an intensive work force. The work force that was supplied firstly with Indentured servants over the Native Americans, which later became the main instrument as to why the African slaves were used a few decades later.
For one thing, the raging flame of nationalism and the spread of the Industrial Revolution throughout the European Continent forced major European powers such as Germany, France and Britain to vie for more resources to fuel their industrial manufacture and compete for new markets for their factory products. As such, these nations had their eye on Africa as a source of raw materials and as a market for their industrial products. To achieve their objects, the European powers occupied immense areas of Africa during the late 19th and the early 20th centuries, which heralded the era of European imperialism in Africa. During the imperial period, the European nations with strong political, military and economic power muscled their way across the African Continent and shouldered the weak ones aside, completely dominating every aspect of the African people. Strategic motivation also played an essential role in the scramble.
The Atlantic Economy was a part of the major theme of this century which was a shift in economic focus, ecological shift and also a power shift. This was fueled by the demand of a growing European population. The Triangular Trade also referred to as the Atlantic Slave Trade occurred in three interrelated regions that traded with each other. Europe would send manufactured goods to Africa, who then sent slaves to the Americas, who then sent sugar, tobacco, and cotton back to Europe. These voyages and explorations helped Europe acquire territories in Africa and the Americas.
One of the major reasons that Virginia had a greater amount of slave was due to Chesapeake plantation which demanded a large amount of slaves to cultivate plantation. Meanwhile, up north in Massachusetts in the New England region slavery was not as high demand as in the south. By the 17 century their social structure was based on cultivators and plantation, and population was at its highest peak in 1760 due the slavery trade. The North and south Caroline brought their profit mostly by the slave trade since the southern region demanded high range of
This is about 14% of an estimated 30,000 population of people of English and European ancestry. Out of the 4,300 indentured servants 300 were African American and 4,000 were of white descent. Eventually indentured servitude was turned into slavery as the slave trade started to boom. It was not recognized as institution until the late 17th century. Indentured servants lives would not be great but still better than the lives of slaves.