Southern Capitalism challenges prevailing views of Southern development by arguing that the persisting peculiarities of the Southern economy—such as low wages and high poverty rates—have not resulted from barriers to capitalist development, nor from the lingering influence of planter values. Wood argues that these peculiarities can instead be best understood as the consequence of a strategy of capitalist development, based on the creation and preservation of social conditions and relations conducive to the above-average exploitation of labor by capital. focusing on the evolving relationship between capital and labor as the core of this strategy, Wood follows the process of capitalist industrialization in North Carolina from its beginnings in the aftermath of the Civil War to the 1980s.
Written for students, laypersons, and scholars who seek a deeper understanding of the roots of apartheid in South Africa, this book focuses upon the relationship between apartheid and capitalism. The author argues, in contrast to prevailing views held both in South Africa and the West, that rather than resulting from capitalism, apartheid is the antithesis of capitalism. In short, Williams asserts, the evolution of apartheid can be seen as a struggle against market forces in order to confer privilege and status on South African whites. Williams begins with a brief overview of South African history, the racial and ethnic diversity of its peoples, and the development of thinking about apartheid. He then highlights some of South Africa's legal institutions, particularly its racially discriminatory laws, and traces the historical forces behind racially discriminatory labor law. Subsequent chapters apply standard economic analysis to apartheid in business and the labor market and consider market challenges to apartheid and governmental responses. Finally, Williams summarizes recent changes to apartheid laws and offers a general discussion of the lessons about racial relations that can be drawn from the South African experience.
Reidy has produced one of the most thoughtful treatments to date of a critical moment in southern history, placing the social transformation of the South in the context of 'the age of capital' and the changes in the markets, ideologies, etc. of the Atlantic world system. Better than anyone perhaps, Reidy has elaborated both the large and small narratives of this development, connecting global forces with the initiatives and reactions of ordinary southerners, black and white. Thomas C. Holt, University of Chicago Joseph Reidy's detailed analysis of social and economic developments in central Georgia during and after slavery will take its place among the standard works on these subjects. Its discussions of the expansion of the cotton kingdom and of the changes after emancipation make it necessary reading for all concerned with southern and African-American history. Stanley Engerman, University of Rochester Successfully places the experience of one region's people into the larger theoretical context of world capitalist development and in the process challenges other scholars to do the same. Rural Sociology
"At the center of the upheavals brought by emancipation in the American South was the economic and social transition from slavery to modern capitalism. In Between Slavery and Capitalism, Martin Ruef examines how this institutional change affected individuals, organizations, and communities in the late nineteenth century, as blacks and whites alike learned to navigate the shoals between two different economic worlds ... In the aftermath of the Civil War, uncertainty was a pervasive feature of life in the South, affecting the economic behavior and social status of former slaves, Freedmen's Bureau agents, planters, merchants, and politicians, among others. Emancipation brought fundamental questions: How should emancipated slaves be reimbursed in wage contracts? What occupations and class positions would be open to blacks and whites? What forms of agricultural tenure could persist? And what paths to economic growth would be viable? To understand the escalating uncertainty of the postbellum era, Ruef draws on a wide range of qualitative and quantitative data, including several thousand interviews with former slaves, letters, labor contracts, memoirs, survey responses, census records, and credit reports. Through a resolutely comparative approach, Between Slavery and Capitalism identifies profound changes between the economic institutions of the Old and New South and sheds new light on how the legacy of emancipation continues to affect political discourse and race and class relations today."--Publisher's Web site.
"Focuses on networks of people, information, conveyances, and other resources and technologies that moved slave-based products from suppliers to buyers and users." (page 3) The book examines the credit and financial systems that grew up around trade in slaves and products made by slaves.
During the nineteenth century, the United States entered the ranks of the world's most advanced and dynamic economies. At the same time, the nation sustained an expansive and brutal system of human bondage. This was no mere coincidence. Slavery's Capitalism argues for slavery's centrality to the emergence of American capitalism in the decades between the Revolution and the Civil War. According to editors Sven Beckert and Seth Rockman, the issue is not whether slavery itself was or was not capitalist but, rather, the impossibility of understanding the nation's spectacular pattern of economic development without situating slavery front and center. American capitalism—renowned for its celebration of market competition, private property, and the self-made man—has its origins in an American slavery predicated on the abhorrent notion that human beings could be legally owned and compelled to work under force of violence. Drawing on the expertise of sixteen scholars who are at the forefront of rewriting the history of American economic development, Slavery's Capitalism identifies slavery as the primary force driving key innovations in entrepreneurship, finance, accounting, management, and political economy that are too often attributed to the so-called free market. Approaching the study of slavery as the originating catalyst for the Industrial Revolution and modern capitalism casts new light on American credit markets, practices of offshore investment, and understandings of human capital. Rather than seeing slavery as outside the institutional structures of capitalism, the essayists recover slavery's importance to the American economic past and prompt enduring questions about the relationship of market freedom to human freedom. Contributors: Edward E. Baptist, Sven Beckert, Daina Ramey Berry, Kathryn Boodry, Alfred L. Brophy, Stephen Chambers, Eric Kimball, John Majewski, Bonnie Martin, Seth Rockman, Daniel B. Rood, Caitlin Rosenthal, Joshua D. Rothman, Calvin Schermerhorn, Andrew Shankman, Craig Steven Wilder.
The everyday lives of enslaved people were filled with the backbreaking tasks that their enslavers forced them to complete. But in spare moments, they found time in which to earn money and obtain goods for themselves. Enslaved people led vibrant economic lives, cultivating produce and raising livestock to trade and sell. They exchanged goods with nonslaveholding whites and even sold products to their enslavers. Did these pursuits represent a modicum of freedom in the interstices of slavery, or did they further shackle enslaved people by other means? Justene Hill Edwards illuminates the inner workings of the slaves’ economy and the strategies that enslaved people used to participate in the market. Focusing on South Carolina from the colonial period to the Civil War, she examines how the capitalist development of slavery influenced the economic lives of enslaved people. Hill Edwards demonstrates that as enslavers embraced increasingly capitalist principles, enslaved people slowly lost their economic autonomy. As slaveholders became more profit-oriented in the nineteenth century, they also sought to control enslaved people’s economic behavior and capture the gains. Despite enslaved people’s aptitude for enterprise, their market activities came to be one more part of the violent and exploitative regime that shaped their lives. Drawing on wide-ranging archival research to expand our understanding of racial capitalism, Unfree Markets shows the limits of the connection between economic activity and freedom.
This book argues that we are undergoing a transition from industrial capitalism to a new form of capitalism - what the author calls & lsquo; cognitive capitalism & rsquo;
Offering a compelling intervention in studies of antebellum writing, Katharine A. Burnett’s Cavaliers and Economists: Global Capitalism and the Development of Southern Literature, 1820–1860 examines how popular modes of literary production in the South emerged in tandem with the region’s economic modernization. In a series of deeply historicized readings, Burnett positions southern literary form and genre as existing in dialogue with the plantation economy’s evolving position in the transatlantic market before the Civil War. The antebellum southern economy comprised part of a global network of international commerce driven by a version of laissez-faire liberal capitalism that championed unrestricted trade and individual freedom to pursue profit. Yet the economy of the U.S. South consisted of large-scale plantations that used slave labor to cultivate staple crops, including cotton. Each individual plantation functioned as a racially and socially repressive community, a space that seemingly stood apart from the international economic networks that fueled southern capitalism. For writers from the South, fiction became a way to imagine the region as socially and culturally progressive, while still retaining hallmarks of “traditional” southern culture—namely plantation slavery—in the context of a rapidly changing global economy. Burnett excavates an elaborate network of transatlantic literary exchange, operating concurrently with the region’s economic expansion, in which southern writers adopted popular British genres, such as the historical romance and the seduction novel, as models for their own representations of the U.S. South. Each chapter focuses on a different genre, pairing largely under-studied southern texts with well-known British works. Ranging from the humorous sketch to the imperial adventure tale and the social problem novel, Cavaliers and Economists reveals how southern writers like Augusta Jane Evans, Johnson Jones Hooper, Maria McIntosh, William Gilmore Simms, and George Tucker reworked familiar literary forms to reinvent the South through fiction. By considering the intersection of economic history and literary genre, Cavaliers and Economists provides an expansive study of the means by which authors created southern literature in relation to global free market capitalism, showing that, in the process, they renegotiated and rejustified the institution of slavery.
