INGS1001 Lecture Notes - Lecture 5: Industrial Revolution
23 May 2018
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1. What is “war capitalism” and what significance does Beckert attribute to it?
2. How and why does cotton become such a popular commodity in the seventeenth
and eighteenth centuries?
3. What was the effect of protectionism in England and France?
4. What is the significance of slavery in the US economy in the eighteenth and
nineteenth centuries, and what were the effects of the American Civil War?
Cotton drove the economy of the states, essentially funding the industrial
revolution and thus capitalism. By the Civil war the US supplied 77% of Great
Britain's cotton 90% of France's cotton and 77% of Russia's.
Cotton centrally mattered to the origins of Europe and centrally matters to the
world we live in today.
Grown by enslaved workers, indeed in 1830, approximately one million
America's nearly all of them enslaved grew the cotton.
Essential to understanding the history of capitalism in the long term, the cotton
grown in the states was central to the global economy.
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