Abstract
Anti-capitalism is gradually gaining ground in most capitalistic societies. Slowly, people realize that the free market concept is a delusion. Executives of big companies are raking in big favors; companies, on the other hand, are lobbying political figures with individual attention and at the same time seeking monopolies. There is little doubt that capitalism encompasses the unbalanced control of the ownership of capital, further fueling the concept of slavery in the modern-day market. Tomich (2017) terms capitalism as the “second slavery” with efforts of overworking to develop the economy and industries. The first part of the nineteenth century experienced a great deal of slavery. It was the pivot of America’s economy. The South’s massive production positioned the United States as the global leader economically. It not only created markets but also helped in building industrial and agricultural production centers and markets. Over seventy percent of the South’s exports during the nineteenth century was as a result of slaves' efforts. Slavery was, thus, an integral aspect of America’s capitalism. At the same time, it was of the essence of continuity. Therefore, on many fronts, the general prosperity manufactures, and commerce is mostly owned by slavery. Profits accumulated from slavery formed the building blocks to capitalism, giving industry owners a combined capability to foster higher production and monopoly of the economy. Over the years, capitalists have lived off the efforts of slavery, living a discontent and exploitative feeling among the working class. During the massive growth of America in the nineteenth century, despite contentment among individuals who owned the means of productions, slaves felt exploited due to the inhuman treatment they faced. Socially, the system is unsustainable and anti-democratic. Over the years, conflicts have pit trade unions against companies for these very reasons that stem from the need to accumulate wealth out of the sweat of workers (slaves in the 19th century). According to Olmstead & Rhode, (2018), workers in the past were forced to work in cotton farms by capitalism has brought a new type of slavery where employees are enticed to overwork with the higher payments. The discontent that arises is further fueled by the excessive power held by capitalist bosses as they drive workers to increase production and accrue more profits. Discontent also arises out of the feeling by workers of being controlled by the product of their skills. The more the slaves toil, the more capitalistic bosses accumulate power, that is then used to manage the workers. Capitalism has promoted unfree labor, with workers being slaves of accumulating wealth ( Rioux, LeBaron, & Verovšek, 2019) . As the capitalistic bosses reinvest the profits, they increase their political, social, and economic control of the country, further increasing their influence and power over the workers (slaves).
References
Olmstead, A. L., & Rhode, P. W. (2018). Cotton, slavery, and the new history of capitalism. Explorations in Economic History , 67 , 1-17.
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Rioux, S., LeBaron, G., & Verovšek, P. J. (2019). Capitalism and unfree labor: a review of Marxist perspectives on modern slavery. Review of International Political Economy , 1-23.
Tomich, D. (2017). The “Second Slavery”: Bonded Labor and the Transformation of the Nineteenth-Century World Economy. In Critical Readings on Global Slavery (4 vols.) (pp. 1326-1349). Brill.
