International China's been making moves in the Caribbean

[Zankou]

Most Americans are under educated on the history of the nation.

“Let’s start with the value of the slave population. Steven Deyle shows that in 1860, the value of the slaves was “roughly three times greater than the total amount invested in banks,” and it was “equal to about seven times the total value of all currency in circulation in the country, three times the value of the entire livestock population, twelve times the value of the entire U.S. cotton crop and forty-eight times the total expenditure of the federal government that year.”

“Now, the value of cotton: Slave-produced cotton “brought commercial ascendancy to New York City, was the driving force for territorial expansion in the Old Southwest and fostered trade between Europe and the United States,” according to Gene Dattel. In fact, cotton productivity, no doubt due to the sharecropping system that replaced slavery, remained central to the American economy for a very long time: “Cotton was the leading American export from 1803 to 1937.”

“What did cotton production and slavery have to do with Great Britain? The figures are astonishing. As Dattel explains: “Britain, the most powerful nation in the world, relied on slave-produced American cotton for over 80 per cent of its essential industrial raw material. English textile mills accounted for 40 percent of Britain’s exports. One-fifth of Britain’s twenty-two million people were directly or indirectly involved with cotton textiles.”

finally, New England? As Ronald Bailey shows, cotton fed the textile revolution in the United States. “In 1860, for example, New England had 52 percent of the manufacturing establishments and 75 percent of the 5.14 million spindles in operation,” he explains. The same goes for looms. In fact, Massachusetts “alone had 30 percent of all spindles, and Rhode Island another 18 percent.” Most impressively of all, “New England mills consumed 283.7 million pounds of cotton, or 67 percent of the 422.6 million pounds of cotton used by U.S. mills in 1860.” In other words, on the eve of the Civil War, New England’s economy, so fundamentally dependent upon the textile industry, was inextricably intertwined, as Bailey puts it, “to the labor of black people working as slaves in the U.S. South.”

https://www.pbs.org/wnet/african-americans-many-rivers-to-cross/history/why-was-cotton-king/

Fake. The bare capital value of slaves was irrelevant because that value was destroyed by its abolition with no negative consequences ... it was a separate and useless sector of the economy. Slaves weren’t traded outside the domestic economy. All they did was tie capital up in a static and unproductive sector. Destruction of that static sector freed capital for more productive and profitable enterprise.

And American exports were trash until the 1890s, when we finally developed an export surplus economy and stopped being a backwater producer of low value exports that was a net importer. It was the growth of iron and steel industry in the 1890s that made America an economic powerhouse. Educate yourself.

https://www.dartmouth.edu/~dirwin/docs/Surge3wp.pdf

 

[ShinkanPo]

China Just won big with their eccomic pack

 

[MMABrooklyn]

Fake. The bare capital value of slaves was irrelevant because that value was destroyed by its abolition with no negative consequences ... it was a separate and useless sector of the economy. Slaves weren’t traded outside the domestic economy. All they did was tie capital up in a static and unproductive sector. Destruction of that static sector freed capital for more productive and profitable enterprise.

And American exports were trash until the 1890s, when we finally developed an export surplus economy and stopped being a backwater producer of low value exports that was a net importer. It was the growth of iron and steel industry in the 1890s that made America an economic powerhouse. Educate yourself.

https://www.dartmouth.edu/~dirwin/docs/Surge3wp.pdf

No, the b.s you’re spewing is false. Former Slaves became sharecroppers in large numbers. Cotton remain the largest U.S export for nearly another century(wtf are you talking about?). You’re not making sense, that’s like saying Rome was never really wealthy because it fell.