Quote:
Originally Posted by bobman0330
But the only capitalists that did that were the ones that owned actual slaves, not the ones who employed wage "slaves,"...
LOL no, LOL no. The capitalists who owned chattel slaves universally used wage slavery too. Who do you think was holding the whips? I'll if you a hint: it wasn't the absentee owning class. LMFAO@ trying to draw some kinda dichotomy here.
And uh, as I mentioned, capitalists often switched back & forth between wage slavery & chattel slavery for production... or employed one at some of their enterprises, and the other at other enterprises, and perhaps used sharecropping at still some others. None of this shiz is mutually exclusive. Again, all depending on what they thought would be more profitable in that particular niche at that particular moment. It's not like they weren't capitalists regardless, these were just routine business decisions back in the day, that's how capitalism works. Again... r u high?
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Anyways, just LOL just no, to begin with. Plenty of capitalists of the day didn't directly own the plantation slaves. The railroad owning capitalists generally rented. Then we got these dudes...
Quote:
... The closing of the African slave trade in 1807 posed a major challenge to slavery’s expansion. Yet it wasn’t a challenge that creative entrepreneurs could not overcome... one slave trader, Austin Woolfolk, turned this setback into an opportunity, becoming extraordinarily rich in the process... Woolfolk’s genius was to build such an exchange, using the newspaper advertisement business as his medium. Woolfolk’s particular gift was in creating eye-grabbing ads... clear, simple, all-caps ad written by Woolfolk: “CASH FOR NEGROES.”...
But the paper money needed to buy and sell slaves was in short supply in the early nineteenth century... forward-thinking southern bankers devised a way for potential slave owners to access credit markets... To get planters credit... bankers... allowed slaveholders to use what few slaves they had as collateral for loans... then repackaged these loans into financial instruments that their banks sold to creditors in New York and Europe... their era’s equivalent of the recent bankers who sliced up sub-prime mortgages, repackaged them into complicated financial instruments, and made themselves phenomenally rich in the process...
Some... business concepts like “vertical integration” and “start-up costs” existed... Firms... saved money by gaining control of many aspects of the domestic slave trade: they not only owned the jail cells used to house slaves in transit, they also created an internal financial firm, akin to what General Motors had done a century later... Morgan’s Gulf Coast steamship line... became the dominant carrier for those slaves, his only competition coming from a rising young capitalist emerging on the scene: Cornelius Vanderbilt...
Good luck on No-True-Scotsman-ing these dudes. Did I mention LMFAO@u !!!1!
Last edited by Shame Trolly !!!1!; 07-01-2016 at 11:26 AM.