General Discussion
In reply to the discussion: How Benedict Cumberbatch's family made a fortune from slavery [View all]NewDeal_Dem
(1,049 posts)In his famous 1944 book 'Capitalism and Slavery', the Trinidadian scholar Eric Williams argued that profits from slavery 'fertilised' many branches of the metropolitan economy and set the scene for England's industrial revolution'.
His thesis has focused decades of debate and controversy. It correctly identified the very great intimacy in 18th-century Britain between making money from slavery on the one hand, and the financing of British capitalist development, on the other.
British capitalism was a cause rather than consequence of slave plantation development. But the fit between slave plantation growth and industrial advance in Britain was to be impressive and sustained. The plantation colonies supplied the mother country with a growing stream of popular luxuries - dyestuffs, sugar, tobacco, then later coffee and chocolate as well - and cotton, a crucial industrial input....
While the idea of inherited guilt is wrong-headed - we are not responsible for our forebears' crimes and misdeeds - the idea of inherited privilege is perfectly valid.
Britain got off to a good start at the time of the Industrial Revolution, and Britons today still enjoy a consequent afterglow of prosperity.
http://www.bbc.co.uk/history/british/abolition/industrialisation_article_01.shtml