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Caribbean slavery and British growth

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  • Solow, Barbara L.

Abstract

The paper supports the hypothesis advanced by Eric Williams that slavery in the British West Indies contributed significantly to English industrial growth in the second half of the eighteenth century. Objections are raised to earlier criticisms of the Williams hypothesis, and a simple Cobb-Douglas model is used to demonstrate how the slave colonies contributed to home country growth and that this contribution was quantitatively important. The paper concludes that colonial slavery increased British national income and the pool of investable funds and resulted in a pattern of trade that encouraged industrialization.

Suggested Citation

  • Solow, Barbara L., 1985. "Caribbean slavery and British growth," Journal of Development Economics, Elsevier, vol. 17(1), pages 99-115.
    • Handle: RePEc:eee:deveco:v:17:y:1985:i:1:p:99-115
    DOI: 10.1016/0304-3878(85)90024-0
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    References listed on IDEAS

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    1. Roger T. Anstey, 1968. "Capitalism and Slavery: a Critique," Economic History Review, Economic History Society, vol. 21(2), pages 307-320, August.
    2. Coelho, Philip R. P., 1973. "The profitability of imperialism: The British experience in the West indies 1768-1772," Explorations in Economic History, Elsevier, vol. 10(3), pages 253-280.
    3. Robert Paul Thomas, 1968. "The Sugar Colonies of the Old Empire:Profit or Loss for Great Britain?," Economic History Review, Economic History Society, vol. 21(1), pages 30-45, April.
    4. R. B. Sheridan, 1968. "The Wealth of Jamaica in the Eighteenth, Centuy: A Rejoinder," Economic History Review, Economic History Society, vol. 21(1), pages 46-61, April.
    5. Engerman, Stanley L., 1972. "The Slave Trade and British Capital Formation in the Eighteenth Century: A Comment on the Williams Thesis," Business History Review, Cambridge University Press, vol. 46(4), pages 430-443, January.
    6. R. B. Sheridan, 1965. "The Wealth of Jamaica in the Eighteenth Century," Economic History Review, Economic History Society, vol. 18(2), pages 292-311, August.
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    Cited by:

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    5. Gregory Price & Warren Whatley, 2021. "Did profitable slave trading enable the expansion of empire?: The Asiento de Negros, the South Sea Company and the financial revolution in Great Britain," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 15(3), pages 675-718, September.
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    8. Lattanzio, Gabriele, 2022. "Beyond religion and culture: The economic consequences of the institutionalization of sharia law," Emerging Markets Review, Elsevier, vol. 52(C).
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