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The Empire Of Cotton Summary

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The cotton industry was essential to the expansion of worldwide capitalism and furthermore, it shaped the earth we live in currently. We as humans need to understand to what extent that the process of defining the world depended on the trade, land expropriation, genocide, and slavery. In The Empire of Cotton, Beckert calls this way of defining our world as “War capitalism”, and additionally explains that the usage of guns by European states in order to change the world's cotton business was a factor in why the industrial revolution took place. When Samuel Greg created the first water-driven yarn-spinning factory at Quarry Bank Mill, England in 1784, he got the money to start it that he consumed as a slave owner on a West Indian island. A great …show more content…
This was the prime time of protectionism. In the preliminary days of the industrial cotton industry, fabric manufacturing in Europe needed as much protection from their competitors as the West Indian sugar interest and the British farming landowners needed as well. By the end of the 18th century, the British fabric production was adequately recognized enough to no further need any protection from competitors. The increasing Lancashire cotton producers felt that high prices for plantation crops and homemade grain added to wages that were higher. Subsequently, it resulted in having greater costs and profiting less. Since the newer manufacturing bourgeoisie profited from slavery and used the money to further industrialize, they began to feel held back older, more outdated mercantile finances. Through the inspiration of scholars such as Adam Smith, free trade became the leading philosophy as the companies developed into an essential economic strength in the country. The need for change in the first half of the nineteenth century lead to the Reform Act of 1832 and ultimately to the final achievement, which was the manufacturing bourgeoisie all started with the elimination of British colonial slavery and then finally ended with the revoking of the Corn Laws and the Sugar Act of

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