The inclusion of the New World in the international economy, among the most important events in modern history, was based on slavery. Europeans brought at least eight million black men, women and children out of Africa to the Western Hemisphere between the sixteenth and nineteenth centuries, and slavery transformed the Atlantic into a complex trading area. This trade united North and South America, Europe, and Africa through the movement of peoples, goods and services, credit and capital. The essays in this book place slavery in the mainstream of modern history. They describe the transfer of...

The Economic Consequences of the Atlantic Slave Trade shows how the West Indian slave/sugar/plantation complex, organized on capitalist principles of private property and profit-seeking, joined the western hemisphere to the international trading system encompassing Europe, Africa, North America, and the Caribbean, and was an important determinant of the timing and pattern of the Industrial Revolution in England. The new industrial economy was no longer dependent on slavery for development, but rested instead on investment and innovation. Solow argues that abolition of the slave trade and...