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Capitalism Archives - Page 3 of 4 - Institute of the Black World 21st Century

Faith leaders from communities throughout New York City lead a demonstration and prayer vigil on the steps of City Hall in protest to the Staten Island, New York grand jury's recent decision not to indict a police officer involved in the chokehold death of Eric Garner in July on December 12, 2014 in New York City.

The Capitalism/Racism Partnership- The Basics

By Editors' Choice

Revulsion is building towards the smokescreens of hypocrisy, racism, and nationalism barely masking capitalism’s ongoing failure to provide the jobs and incomes people need. By Richard Wolff, Common Dreams — In the wake of W.E.B. DuBois ’s 150th birthday, his works offer a lens through which to assess US capitalism’s relationship to racism today. He famously wrote: “Capitalism cannot reform itself; it is doomed to self-destruction,” while adding…

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Picture courtesy of the Norman B. Leventhal Map Center

£9.2 trillion drained from India during British rule, economist finds

By Commentaries/Opinions

“The modern capitalist world would not exist without colonialism and the drain,” says Indian economist Utsa Patnaik By Sean Bell, Common Space — BRITAIN impoverished India over the course of its colonial rule by a staggering £9.2 trillion, laying the groundwork for modern international capitalism and holding back present-day India’s ability to escape poverty, a leading Indian economist has claimed. Utsa Patnaik, Professor Emeritus at Jawaharlal Nehru University’s Centre for Economic…

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Engraving of the women pirates Ann Bonny and Mary Read by Benjamin Cole, circa 1724

Motley mutinies, popular pirates and slave revolts at sea

By Reparations

Historian Marcus Rediker spoke to Ken Olende about the struggles that took place aboard the ships of early capitalism. By The Socialist Worker — The first strike wasn’t in a factory or an office. It wasn’t even on land. US historian Marcus Rediker explains how sailors in England fought against a wage cut in 1768. “They went from ship to ship and took down the sails. That’s called striking the sails….

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A map of the transatlantic slave trade

Capitalism — A System Born of Slavery

By Reparations

By Antony Hamilton — People across the political spectrum acknowledge that racism exists, but its origins are shrouded in mystery—deliberately so. Racism is presented as if it has always existed, and individuals make a personal choice to be racist. In reality racism was developed as a means of justifying the transatlantic slave trade, which was crucial for the birth of industrial capitalism. According to one account of the “middle passage”—the journey…

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How Slavery Inspired Modern Business Management

How Slavery Inspired Modern Business Management

By Editors' Choice

By “dangling the carrot” to improve worker productivity, businesses are taking a page from slavery’s playbook. By Caitlin C. Rosenthal, Boston Review — In 1911 a congressional special committee convened to investigate the impact of new business practices on the lives of workers. Of particular interest to the committee was something called scientific management, a technique that sought to measure and improve worker productivity. The system’s most vocal proponent, a…

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Debtor s’ Prison

How Prisons Serve Capitalism

By Commentaries/Opinions

By Dan Berger, Public Books — I once asked a class at a prison in Washington State how they would describe the relationship between capitalism and incarceration. “They get you coming and going,” someone quickly offered. Perhaps he had in mind the legal financial obligations that are levied against many people upon their conviction.1 He also could have been referring to the exorbitant costs of commissary supplies. In January, Florida prisoners announced…

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William Lloyd’s Coffee House in London specialized in being the first in getting marine news, such as arrivals and shipwrecks. Merchants and traders profited from the transatlantic slave trade before abolition, not only in the buying and selling of slaves, but also in the whole marine business of ship insurance and mortgages to sea captains.

The Surprisingly Long History of Racial Oppression in Coffeehouses

By Editors' Choice, Reparations

Centuries before two Black men were arrested at a Philadelphia Starbucks, capitalists met at coffee shops to profit from the transatlantic slave trade. By Tasha Williams, Yes Magazine — An 18th-century ad tells us that a dozen or so men, women, and children of African heritage were scheduled for buyer’s inspection one Saturday, just outside the entrance of the London Coffee House in Philadelphia. The Stamp Act protests and other famous anti-British…

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Louisiana State Penitentiary

Angola Prison in Louisiana: Proving Ground for Racialized Capitalism

By Commentaries/Opinions

By W. T. Whitney Jr., ML Today — The Civil War ended and Edward A. Pollard “of Virginia” immediately wrote a history of Confederate military operations. (1) There he insists that slavery is immune from moral blame. That’s because it “bestowed upon the world’s commerce in a half century a single product whose annual value was two hundred millions of dollars. It founded a system of industry by which labor…

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The Second Sight of W.E.B. Du Bois

By Editors' Choice

By Chris Hedges, Truthdig.com — Chris Hedges gave this talk Friday at the Left Forum in New York City. W.E.B. Du Bois, more than any intellectual this nation produced in the first half of the 20th century, explained America to itself. He did this not only through what he called the “color line” but by exposing the intertwining of empire, capitalism and white supremacy. He deftly fused academic disciplines. He possessed unwavering…

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A sculpture by artist Kwame Akoto-Bamfo, part of the Nkyinkyim Installation, of enslaved people in chains is shown after entering The National Memorial for Peace and Justice on April 20, 2018, in Montgomery, Al.

“Freedom” and “Liberty” Were Only for Whites in Settler Colonialism

By Editors' Choice

By Mark Karlin, Truthout — By detailing the growth of the slave trade in the 17th century, Gerald Horne reveals how white supremacy, capitalism and the original sin of slavery in the Western Hemisphere became intertwined. Current politics are so chaotic, staggering and fast-paced that we rarely hear of how we arrived at this moment of the resurgence of white supremacy in historical context. However, Professor Gerald Horne, author of The…

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Slave ship diagram, first printed as a broadside in England in 1789

The Apocalypse of Settler Colonialism

By Reparations

What is euphemistically referred to as “modernity” is marked with the indelible stain of what might be termed the Three Horsemen of the Apocalypse: Slavery, White Supremacy, and Capitalism, with the bloody process of human bondage as the driving and animating force of this abject horror. By Gerald Horne — The years between 1603 and 1714 were perhaps the most decisive in English history. At the onset of the seventeenth…

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An activist holds a Pan-African flag during a protest disrupting the Association of Chiefs of Police Conference on October 25, 2015, in Chicago, Illinois.

To Honor King, Let’s Work to End Racial Capitalism

By Commentaries/Opinions

By Barbara Ransby and Aislinn Pulley — April 4 marked the historic 50th anniversary since Dr. Martin Luther King Jr. was assassinated. At this time, it is vital to highlight the fact that King understood the depth of state violence, noting the violent effects of government policy in many spheres. As King said a year before his death, “I could never again raise my voice against the violence of the…

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