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ECON 3R03 (26)
Jack Leach (26)
Lecture

Slavery March 7th.docx

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Department
Economics
Course
ECON 3R03
Professor
Jack Leach
Semester
Winter

Description
Continuation of Slavery 07/03/2013 Zahra Haidari The Plantation System The industry of slavery was small. It could have not entirely financed the industrial revolution. ● American slavery not at issue: American cotton did not become important to the British until after 1800, when the first Industrial Revolution is almost over ● What about slavery on the Caribbean sugar plantations? The money from the Caribbean sugar plantation was: (1) reinvested in the sugar plantations or estate or (2) consumed. ● Profits were 1/2 of 1% of GNP. Similar profits were earned in other industries, including banking, insurance, horse breeding, hospitality, wheat farming, fishing ● These profits were only available only if they were not reinvested in the sugar industry, or spent on consumption Harewood: its builder owned 46 sugar plantations ● The absence of slavery would not mean the disappearance of the profits – There would have been other methods to find workers for the plantations – sub-Saharan Africa and China (where economic conditions were bad and there was a
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