Robin Blackburn’s made an argument on how slave traffic with the Americas went to the fast industrializing financial system of the 18th century in Britain, and still, he argues on how it is assisting the Britons today. Robin further argues that those who dealt with slavery were the slave-owning planters and merchants in the 18th century. Earnings from the slave trade facilitated to give all souls institution like Oxford, with a splendid collection to build a score of stockpiles. Also, it helped Barclays grow and also to fund the experiments of James Watt which was the first discovery of an efficient vapor engine.
Who Are Merchant Bankers?
The merchant bankers from Liverpool were considerably involved in the slave trade deal. They played their role by extending essential credit to the early cotton producers of the Lancashire hinterland. They assisted some Indian farmers helped to building stately homes. Some of them, however, exaggerated their residences. While some invested in channels others spent their ill-gotten increase on betting, prize fights, and violent living.
Role of Merchant Bankers in Economic Growth
The introduction of the new financial system led to increased farms and agricultural estate. As a result, these economic activities where the slaves worked led prosperity of Britain and the Netherlands in the 17th century. The success promoted agricultural and economic growth in the two countries. Additionally, there were other side benefits such as the expansion of the consumers market as farmers hired personnel as the best way to enhance the outputs.
Effects of the Slave Trade
How Did the Slave Trade Effect the Economy?
According to Blackburn, the slave trade helped people to change from barter trade to an economic money system since people no longer produced foods they ate or the garments they wore. Instead, they bought fine wines or oriental silks. To meet the increased demand, the merchants established slave farms in Virginia and the Caribbean.
Political Effect of Slave Trade
Laurent Dubois also states that the dwellers of the islet of Guadeloupe, who have slave turned citizens transformed a radical political culture in Europe and America. To achieve this, the slaves used the values of Revolutionary French Republicans to get liberated. Even though made in the late 20th century, Dubois’s argument simultaneously relates the slave’s struggle for citizenship with the French rebellion. He believes that his argument is valid. Dubois is open-minded to the possibility of unification history and literary criticism that might suggest a new version of the base of equality where no human being will be segregated. As such, each person can be allowed to exercise their democratic rights.
Slave Trade Effect on Culture
With regard to this opinion, Dubois gives a detailed explanation of how the radicals made use of the language of republican and their personal liberty against social orders due to the rejection of their humanity. By so doing, the slave struck against the claims to belongings rights that were used by their former masters to obtain more slaves. However, as the pendulum started to swing back against the former slaves, the slaves could not exercise their political rights as their rulers argued that the occupied people lack cultural and intellectual capacities.
From both arguments, it can be seen that, although it was a ruthless activity, it led to the development of some countries. Since only the strong men were taken to work in the American and the European farms, some countries where slaves were taken could not develop because only weak people were left. More so, the great separation of families slowed economic and political growth in those countries.
If you are the original author of this essay and no longer wish to have it published on the SuperbGrade website, please click below to request its removal:
- Should We Have Stricter Gun Laws? - Controversial Essay Sample
- Oral History: World War II
- Persuasive Essay on US Music Diplomacy in the USSR
- The Civil War in Shepherdstown: Research Proposal
- American Civil War in William Faulkners A Rose for Emily - Literary Analysis Essay
- Expository Essay on Causes of World War II: U.S Adversaries and the Use of Atomic Bombs
- U.S Gun Control: Should the U.S Adopt Stronger Gun Control Laws?