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Historia Crítica
Print version ISSN 0121-1617
Abstract
PARRON, Tâmis. Capital and World Labor: The Rise and Fall of Slavery in the Nineteenth Century. hist.crit. [online]. 2023, n.89, pp.155-182. Epub July 13, 2023. ISSN 0121-1617. https://doi.org/10.7440/histcrit89.2023.06.
Objective/context:
The boom-and-bust of New World slavery in the nineteenth century has always been a major topic of scholarship. In this essay, I suggest that the literature devoted to this theme, the so-called “capitalism and slavery debate,” has made capital invisible as a category of analysis due to its over-reliance on classical and neoclassical economics. As a result, slavery itself has been poorly historicized. My purpose is to put forth an alternative framework to restore the historicity of capital and slavery.
Methodology:
The article explores critical value theory to conceptualize capital and capitalism in historically meaningful terms. It argues that value creation is never confined to one country. It requires a historically transnational social formation that turns concrete labor into abstract labor and use-values into commodities through the multi-scale operatives of world money and world markets. The history of slavery should be narrated within this broader globalizing setting.
Originality:
The article’s claim is that the global value relations of industrial capital redetermined spatial relations between town and country, capital and labor, and production and consumption, engendering overlapping layers of a world geography of accumulation that both stimulated and challenged slavery.
Conclusions:
While most scholars present the relation between slavery and capitalism as constant for the period 1780-1880, I conclude that New World slavery went through two moments of boom-and-bust (c.1780-c.1820 and c.1830-1880), which were formed through, respectively, the global value relations of cotton production and coal-and-iron industrialism.
Keywords : critical value theory; global value relations; New World slavery; world geography of accumulation..