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Review of The Business of Slavery and the Rise of American Capitalism, 1815-1860 by Calvin Schermerhorn and The Half Has Never Been Told: Slavery and the Making of American Capitalism by Edward E. Baptist

Author

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  • Stanley L. Engerman

Abstract

The two books being reviewed are concerned with the importance of slavery in the antebellum US South for the economic development of the Northern states. One (Schermerhorn) deals primarily with Southern financial arrangements facilitating the sales of slaves and cotton. The other (Baptist) presents a broader picture of masters' treatment of slaves, as well as how the incomes of slaveowners spurred the demand for Northern industrial production. The review argues that both books overstate the importance of slavery and cotton production for US economic growth.

Suggested Citation

  • Stanley L. Engerman, 2017. "Review of The Business of Slavery and the Rise of American Capitalism, 1815-1860 by Calvin Schermerhorn and The Half Has Never Been Told: Slavery and the Making of American Capitalism by Edward E. Bap," Journal of Economic Literature, American Economic Association, vol. 55(2), pages 637-643, June.
    • Handle: RePEc:aea:jeclit:v:55:y:2017:i:2:p:637-43
    Note: DOI: 10.1257/jel.20151334
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    Citations

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    Cited by:

    1. Phillip W. Magness & Art Carden & Ilia Murtazashvili, 2023. "Gordon Tullock and the economics of slavery," Public Choice, Springer, vol. 197(1), pages 185-199, October.
    2. Gavin Wright, 2022. "Slavery and the Rise of the Nineteenth-Century American Economy," Journal of Economic Perspectives, American Economic Association, vol. 36(2), pages 123-148, Spring.
    3. Hans L. Eicholz, 2022. "Werner Sombart’s Ghost: The Geist That Haunts the New Histories of Capitalism," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 37(Fall 2022), pages 39-60.

    More about this item

    JEL classification:

    • J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
    • N11 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: Pre-1913
    • N31 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: Pre-1913
    • N51 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - U.S.; Canada: Pre-1913
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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