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’1619,’ Episode 2: The Economy That Slavery Built

The Daily

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The Economic Legacy of Slavery

This chapter explores the financial instruments, specifically slave-backed mortgage bonds, that rose during the era of slavery amidst growing global opposition. It highlights the significant economic impact of the cotton industry and its parallels with modern financial crises, emphasizing the exploitation of Black communities. The narrative reflects on the enduring inequalities within American capitalism and the haunting legacy of slavery that continues to shape economic structures today.

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