"The Half Has Never Been Told: Slavery and the Making of American Capitalism" by Edward E. Baptist explores the profound impact of slavery on America's economic development. The author argues that the brutal system of slavery was not only a moral atrocity but also a crucial element in the formation of modern capitalism. Baptist illustrates how the expansion of cotton production drove economic growth and shaped the nation’s financial systems, making slavery integral to American prosperity.
Baptist delves into the lives of enslaved people, emphasizing their resilience and the harsh realities they faced. Through personal stories and historical evidence, the book reveals how enslaved individuals played a vital role in driving productivity and innovation in the agricultural sector. Their forced labor was central to the wealth accumulation of the South, which in turn fueled industrialization in the North.
The narrative challenges conventional views of slavery, highlighting its significance beyond moral and ethical discussions. By connecting slavery to the development of banking and trade networks, Baptist calls for a reevaluation of American history, showing that the legacy of slavery is deeply woven into the fabric of the nation’s economic and social structures.