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The Political Economy of Slavery: Studies in the Economy and Society of the Slave South (Wesleyan Paperback), by Eugene D. Genovese
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A stimulating analysis of the society and economy in the slave south.
- Sales Rank: #444354 in Books
- Brand: Brand: Wesleyan
- Published on: 1988-12-15
- Original language: English
- Number of items: 1
- Dimensions: 8.02" h x .80" w x 5.56" l, .88 pounds
- Binding: Paperback
- 335 pages
- Used Book in Good Condition
Review
“What is original in Mr. Genovese’s highly stimulating volume is the analysis of the ante bellum political, economic, and social structure as a closed system with a built-in (and most un-American) resistance to change… [It] will move the discussion of the ante bellum South to a new level of sophistication.” —Anne Firor Scott, The South Atlantic Quarterly
“The work is original and quite persuasive.”—The New Yorker
“Genovese has combined elegance of expression and originality of analysis in a remarkable book.” —Leonard Bloom, Journal of Modern African Studies
“He has given new life to the study of Southern history.”—William N. Parker, Economic History Review
From the Publisher
5 1/2 x 8 trim. Table. Graph. LC 89-5607
About the Author
EUGENE D. GENOVESE is Distinguished Professor of Arts and Sciences in the College of Arts and Sciences at the University of Rochester. In 1987-88 he was on leave at the Humanities Research Center in Research Triangle park, North Carolina, and in 1988-89 he was visiting professor at William and Mary. GENOVESE is former president (1979) of the Organization of American Historians and winner of the Bancroft Prize in 1974 for Roll, Jordan, Roll. He has written, in addition to The Political Economy of Slavery and Roll, Jordan, Roll, The World the Slaveholders Made (Wesleyan 1988), In Red and Black, From Rebellion to Revolution, and, with Elizabeth Fox-Genovese, Fruits of Merchant Capital. He is a graduate of Brooklyn College (B.A. 1953) and Columbia University (Ph.D. 1959). He has been visiting professor at Columbia, Yale, and Tulane and Pitt Professor of American History and Institutions at Cambridge University. His home is in Atlanta, Georgia.
Most helpful customer reviews
13 of 16 people found the following review helpful.
Reformism in chains
By Harry Eagar
When Eugene Genovese, now a senior figure in slavery studies, was a young scholar, the question of whether slavery was "profitable" or "as profitable as free labor" was a vexed one in the academy. These early essays consider the question and the answer he gives is no.
This is undoubtedly correct, but the mystery to me has always been why anybody thought there was a controversy. A drive through the South around 1960 with its tarpaper shacks, coupled with a drive through the Midwest with its comfortable clapboard houses should have given a hint. Even if the difference had been slight or nil, there is a social factor: If the southern agricultural system had been highly profitable, then necessarily all the profits would have been concentrated in a few hands, in contrast with the North and West.
It might not have been obvious at the time, but the example of England, then developing a similar split without slavery, would have hinted at coming problems. The South needed land reform as much as it needed emancipation.
Genovese is concerned, though, with the more immediate prospects of reform (taking the word in its most expansive meaning, to include those who thought that reform meant making slavery bigger and better). According to Genovese, the form that slavery had taken by the 19th century, coupled with the world market for a single staple crop and the marked difference in farming opportunities between the Upper and the Lower South meant that all parties were on a snubbing chain.
The moderate reformers who wished to make slave labor more efficient were stymied by lack of capital and other forces, and the more ambitious reformers who hoped to see American slavery evolve to a form of modified, more or less free labor were even less able to move.
More interesting is his judgment that those who wanted to extend slavery into the western territories, Cuba or Mexico also could not realistically have done so because of the construction of the markets.
This is somewhat speculative but persuasive.
Genovese is not an economic determinist. He pounds on the idea that the planters could not make moves in their own economic interest because these would have weakened them politically and (he makes less of this) in their social status. They were caught in a development trap, partly of their own devising.
It can happen anywhere. Just recently Robert Rubin tried lamely to explain why the huge bank he helped direct failed to avoid the dangerous mortgaging practices that nearly brought it and the rest of the economy down: He claimed to have known the risks but said the bank could not afford not to participate.
The conclusion I would draw from that -- as from Southern history -- is that some cases are beyond the reach of meliorists; they can be fixed only by revolutionary means. The South had its revolution, although the old regime made a comeback that retarded economic changes for another century; but it finally got its effective revolution and has prospered at last.
Wall Street, too, had its revolution in the `30s, was recaptured by the old regime, failed again and awaits its effective remaking.
2 of 2 people found the following review helpful.
Slavery as an Economic System: Profit or Loss for the Masters?
By peor
All reviews are, however much you wish to make a scientific exercise of them, colored by your personal bias and experience. Political economical interpretations bring to mind right away a 'Marxist' interpretation, and that is the bias that I started the book with. The author, however, presents a descriptive study of the economy present in the South in the nineteenth century, based as it was, on the unpaid labor of slaves. The final judgement on the pros an cons is based on the economic terms of the system and not on its morality as some enemies of slavery frequently fall back on, although justifiedly. The slave economy seems to have been a profitable system or it would not have subsisted as long as it did.
The slave economy was profitable enough to encourage slaveholders to invest their profits in land and more slaves, rather than in manufacture, as the North was doing, for fear of a free white laborer class that might rival their social level, but unwilling yo permit the slaves to reach this same level, for the same reasons. In the meantime, the North with a pool of free paid labor with an incentive to join the propertied class and growing as more and more white immigrants came, left the South behind, in a condition comparable to what in the twentieth century the United States would be to the third world countries, providers of staples as the South did to the North, the West Indies and Europe, and customer of their manufactures and e'n depending of the North for a good portion of their food supplies.
I had read about slavery in the abstract or in personal cases, but never considered it in its details as an economic system, and Professor Genovese has helped me understand this facet of the system which underlies so many of the problems that the United States still faces today.
1 of 1 people found the following review helpful.
Great book that shows how slavery was an economic anachronism ...
By Robert Whitman
Great book that shows how slavery was an economic anachronism in the south---it wasn't very profitable and was maintained mostly for social-relations, racial hierarchy and cultural reasons. Shows how oftentimes people perpetuate systems, not because they are the most profitable, but because they perpetuate their power and control over others.
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