Scene on Radio: Capitalism cover image

S7 E5: A New Thing in Human History

Scene on Radio: Capitalism

Slavery and Cotton: The Roots of American Capitalism

2min Snip

00:00
Play full episode
The innovation of new technologies in cotton production catalyzed the growth of the textile industry in the United States, enabling local manufacturers in New England to satisfy a burgeoning global demand. Previously, American colonies supplied raw cotton to British mills, but advancements allowed for domestic processing, thus establishing a robust manufacturing economy fueled by economic activity from textile mills. This shift not only benefited white immigrant workers in the mills but also illustrated the heavy reliance on the exploitation of enslaved black labor, which underpinned this economic transformation. Historian Edward Baptist notes that by the mid-19th century, cotton emerged as the most valuable global commodity, akin to the role of oil today. The U.S. position was strengthened by its ability to produce cotton domestically, uniquely positioning itself against European competitors who were dependent on imports.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode