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Amitav Ghosh - How the Opium Trade Shaped Capitalism
Feb 13, 2024
Novelist and historian Amitav Ghosh explores the influence of the opium trade on colonial history, its connection to the world's biggest corporations, and its relevance to America's contemporary opioid crisis.
38:03
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Quick takeaways
- The opium trade laid the foundations for modern capitalism, influencing the development of major institutions and industries.
- The opium trade and current fossil fuel dependency share parallels, highlighting the potential for an anti-opium-like movement against energy corporations for a more sustainable future.
Deep dives
The Opium Trade and Its Role in Shaping Capitalism
The opium trade played a significant role in shaping capitalism, laying the foundations for modern capitalism. Enormous amounts of opium were traded between India and China, with China sending tea to Britain in exchange. The opium trade was justified through racialized arguments and the concept of free trade. The opium fortunes made by American and British merchants transformed the United States and led to the development of industries and the founding of major universities and institutions. The opium trade also had a profound impact on the lifestyles of traders, with Chinese influence seen in gardens, art collections, and the rise of yacht culture.
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