It’s impolite to talk about money. Perhaps that’s why, when we discuss the history of slavery in this country, we tend to talk about racism, and paternalism, and the way that awful social institutions just stick around, those pesky buggers — talk about anything, that is, except for the profits.
But there were profits, of course, and large ones. Slavery, after all, is a cost-efficient way to extract labor from human beings. It’s an exceptionally brutal flavor of capitalism. And it worked: In 1860, the U.S.’s four wealthiest states were all in the deep South. After the Civil War, though, white Americans found ways to downplay the profit motive. “Above all, the historians of a reunified nation insisted that slavery was a premodern institution that was not committed to profit seeking,” writes Edward Baptist in his new history of slavery, “The Half Has Never Been Told.” (Read the Salon excerpt from the book here.)
Baptist, a professor of history at […]