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The Half Has Never Been Told: Slavery and the Making of American Capitalism 1st Edition

4.6 out of 5 stars 307 customer reviews
ISBN-13: 978-0465002962
ISBN-10: 046500296X
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Product Details

  • Hardcover: 528 pages
  • Publisher: Basic Books; 1 edition (September 9, 2014)
  • Language: English
  • ISBN-10: 046500296X
  • ISBN-13: 978-0465002962
  • Product Dimensions: 6.4 x 1.5 x 9.3 inches
  • Shipping Weight: 1.6 pounds (View shipping rates and policies)
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (307 customer reviews)
  • Amazon Best Sellers Rank: #31,151 in Books (See Top 100 in Books)

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Top Customer Reviews

Format: Hardcover
This densely packed book weaves slave narrative with economical and political facts of the capitalistic nature of slavery in America. After introducing incredible economic facts such as that the national Bank of the United States was used to facilitate the spread of the institution of slavery, the author humanizes the effects by showing how this affected the lives of actual slaves whose narratives somehow survived the South's maniacal suppression of such information.
Even today, conservative Republicans elected to government posit even today the theory that America's founding fathers worked tireless to end slavery (example, Michelle Bachman). The fact is that the founding fathers were owners of many hundreds of slaves and 12 of the first 16 presidential elections were won by slave owners. Another astounding fact is that in 1860, the seven of the top eight states with the highest per capita wealth were slave states. And the only non-slave state in the top eight was Connecticut, and its per capita wealth depended on the manufacturing of cloth from the slave-state cotton industry; so much for the theory that the slave industry was just a tiny percentage of American capitalism.
In addition to the extreme wealth of the slave states, many of the manufacturing and financial institutions of the northern states highly benefited from the slave industry. One important aspect of the northern financial institutions is that they developed mortgages and other financial devices to help spread slavery from the east coast to the deep South and then to Texas. In fact, the panic of 1837, was largely caused by slave speculation, much like the 2008 economic collapse that was caused by home mortgage speculation of the banks.
One of today's myths was that slave labor was not as efficient as free labor.
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Format: Hardcover
Edward Baptist has put his heart and soul into writing yet another fact-based and gripping book on how embedded slavery is in our society and how our economy grew and made wealthy individuals from those who enslaved other humans. It's not the normal story you've heard while growing up ... it's much more real, shocking and horrifying than 12 Years a Slave. I appreciate all the research that went into this book and marvel at the fact that it doesn't come off as an encyclopedia, but a novel you can't put down. Highly recommend.
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Format: Hardcover
Edward Ball, author of Slaves in the Family really captures this book perfectly when he states that “[t]his book reveals a dirty secret about American business, and how commerce first boomed before the Civil War. Baptist unearths a big, nasty story: in the North and the South, slavery was the tainted fuel that kindled the fires of U.S. capitalism and made the country grow.”

As a scholar of race in this country, I found this book thought-provoking and important. This country has never dealt with the fact that slavery built this country. Hopefully this book will help us finally do so.
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Format: Hardcover
"Cotton is king," said Senator Hammond in 1858. In his particular context he was wrong, but in another sense he was very much correct. For no serious economic historian will doubt that it was King Cotton who bankrolled the industrialization of the United States and America's ascent to world power.

To present-day eyes, this might appear strange. Cotton sounds banal to us; in our day the growth of the economy depends (or at any rate, is assumed to depend) on information, electronics and similarly high-tech businesses. But up until at least the late 19th century, the chief industry remained textiles; it was with weaving and spinning that the Industrial Revolution had begun, and it was these which kept the wheels turning. And Spinning Jenny, of course, needed something to spin: Cotton fiber.

In order to illustrate the importance of cotton, we might think of crude oil today; while the comparison is not perfect, it is one historians can legitimately (and do surprisingly frequently) employ. Without cotton for the mills, the early industries would have collapsed every bit as dramatically as would our economy if our oil supply was suddenly strangled. And since the United States controlled roughly three-quarters of the world cotton supply by the mid-1800s, that made her a sort of OPEC of the day. Like the oil sheikhs, US planters and traders brought in fantastic revenues from selling this simple but absolutely vital primary good; unlike them, they wisely invested the money, so that they would not forever remain dependent on it. This, then, was the money that built the future economic superpower.

We are used to thinking of the industrialized North as the economic powerhouse of the US, with the "rural" South the poor country cousin.
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Format: Hardcover Verified Purchase
Edward Baptist makes several strong arguments, some of which turn conventional wisdom on its head. Some of his arguments are difficult to read and go against our preferred versions of U.S.history.

He details how American slavery was one of the most productive economic institutions in world history and how the expansion of slavery made the U.S. into a modern industrial empire. He details how slavery, by use of torture and terrorism, increased productivity and made the cotton industry the biggest, most sustained, expansion of the economy in human history.

He makes the point that it wasn't just a Southern industry; indeed it benefitted the entire world -- from Northern banks, ship builders and industries that supported slavery (farm implements, whips, ropes, chains, etc) to the textile mills of Western Europe, especially Britain.

And he makes a good argument that slavery would not have died if it hadn't been for the Civil War. Indeed, from the founding of the nation, slavery had grown for 70 years at a rate unprecedented in human history. There's no evidence to suggest that such a profitable and productive industry would have ever died out on its own accord. He shows that the cotton industry was never as productive again, after it lost it's use of the whip.

Finally, he points out that the South brought about their own destruction. It was they that always pushed for more and more expansion of slavery (even contemplating taking over Cuba and all of Mexico!), which pushed Northerners into fearing for their own loss of political power. The Southern push for ever-growing slavery culminated in the creation of the new Republican Party, formed to not end slavery but to end it's expansion.
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