1. Looking Beyond England: Slavery, Settler Colonialism and the Development of Industrial Capitalism
- Author:
- Paula Reisdorf
- Publication Date:
- 06-2021
- Content Type:
- Working Paper
- Institution:
- Centre for Global Political Economy, University of Sussex
- Abstract:
- This paper examines the debates surrounding industrial capitalism’s origins, critiquing the Eurocentrism in the Political Marxist approach. Instead, using a dialectical framework, I argue that the transition from agrarian to industrial capitalism in Britain required the existence of slavery and settler colonialism in the New World. The reason for this is threefold: Firstly, the removal of surplus populations either to colonies or domestically by employing them in colony- related industries was necessary to avoid stagnation in capitalist development. Secondly, the cheapening of basic commodities leading to a reduction in wages (i.e. relative surplus value extraction) in Britain necessitated enslaved labour in the New World. Thirdly, British industrialisation itself required settler colonialism and slavery because of: 1) the importation of slave-produced raw materials that were manufactured in Britain, 2) the exportation of manufactured products to settler colonies in the Americas, 3) the investment into industry by slaveowners and 4) the credit provision by banks that were tightly linked to the slave trade. I, therefore, conclude by suggesting that taking seriously the links between capitalism and slavery/colonialism could unify post-colonialism and Marxism by demonstrating the interconnectedness between post-colonialism’s principal object of analysis – colonialism – and Marxism’s main object of analysis – capitalism.
- Topic:
- Post Colonialism, Socialism/Marxism, Capitalism, Slavery, Colonialism, Settler Colonialism, and Eurocentrism
- Political Geography:
- Britain and Global Focus