The Economic Effects of the Slave Trade on Africa,...

In today’s world it is widely know and accepted that money makes the world go round but, unfortunately that is not the question. The question is: what made the world go round in the early 1600’s? Surprisingly, just like the world today money made the world go around back then also. One major difference is that in today’s world machines do all of our dirty work, back then it was all up to the slaves. Finding the perfect slave was a challenge to the colonists. First, there was the indentured servants, second, came the Indians. However because Indians and indentured servants could escape to freedom with ease, they were not the ideal slaves. The colonists’ third attempt proved to be a gold mine. The unfortunate people who were forced in to†¦show more content†¦We will now explore the background of the triangle trade in America, Britain, and Africa, along with the economic effects that were brought to not only America and Britain but also the economic effects brought to Africa as a result of slavery and the slave trade. The slave trade was the largest contributor to the British economy during the 18th century. Tomas Butler stated â€Å"The profits from the slave trade were part of the bedrock of our countrys industrial development. Many people and institutions in every part of the country were complicit in the trans-Atlantic slave trade.† In the early Americas, Britain supplied a vast majority of the slaves to the new world to be sold to the highest bidder. During the slave trade British ships made over ten thousand voyages and enslaved approximately 3.4 billion Africans. Some of these ships would make a profit of twenty to fifty percent. Back in England the king and the ship owners were not the only people benefiting from the slave trade. Everyone from the factory owners to the factory workers were benefited as an effect of the slave trade. The upper-class citizens were definitely making the big dollars. These people inc luded the owners of the slave ships, the factory owners, who were able to produce and sell the products that the Africans and Americans needed and wanted, bankers who made money from the interest they earned on loans from people who borrowed money for the long voyage, andShow MoreRelatedThe Aftermath of the Atlantic Slave Trade779 Words   |  3 Pagesaftermath of the Atlantic Slave Trade included the commercialization of African economies and the solidification of European colonization and colonialism. Describe this commercialization and its subsequent effects. The demise of the African slave trade began in 1807 when Britain forbade the capturing and selling of African slaves. 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