The Half Has Never Been Told

The Half Has Never Been Told: Slavery and the Making of American Capitalism is a book by Edward E. Baptist published in 2014 by Basic Books. Baptist makes the argument that slavery played an essential role in the development of American capitalism, and that enslavers and slave traders were entrepreneurs in a capitalist context. They used enslaved people not just as the economic engine for the production of cotton, the dominant global commodity of the time, but also as collateral to finance the economic development of the nation.

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264