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.
An age of invention and mass production, propelled by a new mechanism – the corporate research lab – leads to a surge in material wealth like the world has never seen. How does a new nation, the United States, overtake its parent as the leader of the surging capitalist order? And what does it all mean in the lives of ordinary people?
By John Biewen, with co-host Ellen McGirt. Interviews with Woody Holton, Robin Alario, Edward Baptist, and Brad DeLong. Story editor: Loretta Williams. Music by Michelle Osis, Lilli Haydn, Chris Westlake, Alex Symcox, and Goodnight, Lucas. Music consulting by Joe Augustine of Narrative Music. "Capitalism” is a production of the Kenan Institute for Ethics at Duke University, in partnership with Imperative 21.