Module 3: History
Part 6: Financial Systems/Economy
This part focuses on the relationship of slavery and financial systems and economies not just in the United States, but throughout the world.
&1: Financial Systems/Economy
The history of the success of the United States economy is rooted in slavery. Slavery is often portrayed as a major component of the southern economy, but the production of cotton and other raw materials also fueled the northern economy. The resources below explore the connections between financial systems, the economy, slavery, and racism.
Many of us can remember the idea of “too big to fail” in the financial crisis of 2008. However, this wasn’t the first or only time this theory was applied to institutions. A similar premise was used to justify the continuation of slavery. Even as states and countries distanced themselves from the visible act of selling and trading slaves, they were economically tied to these practices. To learn more, listen to the podcast from The 1619 Project (linked below).
Listen:
The Economy That Slavery Built
https://www.iheart.com/podcast/326-1619-48877024/episode/episode-2-the-economy-that-slavery-48877047/
The connections between slavery and the economy are further explored in these resources:
Read:
The Clear Connection Between Slavery and American Capitalism
https://www.forbes.com/sites/hbsworkingknowledge/2017/05/03/the-clear-connection-between-slavery-and-american-capitalism/#7a6a12697bd3
Without Slavery, Would the U. S. Be the Leading Economic Power? (article with an excerpt from The Half Has Never Been Told)
https://www.nhpr.org/post/without-slavery-would-us-be-leading-economic-power#stream/0
Listen:
Without Slavery, Would the U. S. Be the Leading Economic Power? (NPR clip)
http://pd.npr.org/npr-mp4/wbur/media/2014/11/20141119_hereandnow_slavery-economy-baptist.mp4?orgId=1&d=891&p=60&story=365233698&ft=nprml&f=365233698
There may be a temptation to look at either racism or economic equality. The following clip presents the idea that race and economic issues should be considered together. This clip brings in particular political parties/groups. Regardless of your personal politics, consider the message presented that race and economics should be considered together in order to progress toward solving issues in society.
Watch:
We Must Talk About Race to Fix Economic Inequality
https://www.youtube.com/watch?v=caarVAS40jQ&feature=emb_logo
Many of us can remember the idea of “too big to fail” in the financial crisis of 2008. However, this wasn’t the first or only time this theory was applied to institutions. A similar premise was used to justify the continuation of slavery. Even as states and countries distanced themselves from the visible act of selling and trading slaves, they were economically tied to these practices. To learn more, listen to the podcast from The 1619 Project (linked below).
Listen:
The Economy That Slavery Built
https://www.iheart.com/podcast/326-1619-48877024/episode/episode-2-the-economy-that-slavery-48877047/
The connections between slavery and the economy are further explored in these resources:
Read:
The Clear Connection Between Slavery and American Capitalism
https://www.forbes.com/sites/hbsworkingknowledge/2017/05/03/the-clear-connection-between-slavery-and-american-capitalism/#7a6a12697bd3
Without Slavery, Would the U. S. Be the Leading Economic Power? (article with an excerpt from The Half Has Never Been Told)
https://www.nhpr.org/post/without-slavery-would-us-be-leading-economic-power#stream/0
Listen:
Without Slavery, Would the U. S. Be the Leading Economic Power? (NPR clip)
http://pd.npr.org/npr-mp4/wbur/media/2014/11/20141119_hereandnow_slavery-economy-baptist.mp4?orgId=1&d=891&p=60&story=365233698&ft=nprml&f=365233698
There may be a temptation to look at either racism or economic equality. The following clip presents the idea that race and economic issues should be considered together. This clip brings in particular political parties/groups. Regardless of your personal politics, consider the message presented that race and economics should be considered together in order to progress toward solving issues in society.
Watch:
We Must Talk About Race to Fix Economic Inequality
https://www.youtube.com/watch?v=caarVAS40jQ&feature=emb_logo
Reflect:
- What did you learn from these resources?
- How does this learning impact your view of history and of our current society?
- How does this learning inspire you to take action? What are your next steps?
The next part takes a look at the meaning and celebration of Juneteenth.
