Harrison Thacker

11-11-16
ECON 1740

ECON 1740 E-Portfolio

Having seen Americas economic history in a new light, its
impressive how there was an engine behind it all that drove it. It was the cotton
crop being harvested by black slavery. Cotton was the first ever mass consumer
commodity. Its in some of our food and clothes, its one of the first things you
come into contact with the very day of your birth. But the story behind how it
transformed other economies, not just our own, has remained captivating to this
day.

Slaves themselves were turned into commodities due to the production

process. Before the time of Eli Whitney and his fateful invention, cotton in the
fields were picked by hand, and it was physically and mentally exhausting work
due to the precision and gentleness required. Turns out however that the southern

blacks werent the only slaves that had to go through similar work. Orphans in
cotton mills in Manchester, England, worked in literal prisons. Those very mills
actually went on to inspire Karl Marx to write The Communist Manifesto due to the
infamous working conditions the children and workers had to endure. Situations
such as these might happen when value is placed on economics over human life, or
human life gets seen as a commodity of its own.

Back before the Civil War occurred, the slave community in America
had more value placed into it than actual banks and livestock. When Whitneys
cotton gin came around, the greater productivity ensued in more profits for the
planters. Time and time again, demand for slaves was at an all time high. And then,
cotton mills came from Industrial Age England to America. At the same time,
cotton produced by slaves served as eighty percent of raw material for Britain. We
benefitted as well, thanks to cotton being our leading export from 1803 to 1937.
Cotton was arguably the most essential element our economy had at the time. Our
textile revolution in New England was fed and nourished by it. Its textile industry
was intertwined with those in slavery working in the south. Really soon, states
would come to blows over the very question of slavery.

One certain cause of the Civil War was cotton grown by black slaves,
what determined and drove the American economy for the longest time. Cotton
itself was getting in the way of justice when it came to slavery by prolonging it.
Abolitionists then gathered support for ending slavery, as the inhumane practice it
has always been. Cotton was what fueled our expansion, sometimes dragging us
into conflict with one another. After the end of the Civil War, the south was left in
chaos having to deal with poverty and the loss of its slavery industry. The north
continued to prosper while the south was trapped in a hole trying to get out. In fact,
that civil war is still being fought today.

Then along came the second Industrial Revolution. Cotton would still
be very much a driver for at least 70-80 years, continuing to be the number one
export to other countries. And all the while, innovation was shaping culture and
business. Similar to cotton, other goods would soon undergo mass production.
Making more goods and services available to all is part of what strengthened the
economy. Part of what made cotton valuable everywhere was how it can be used in
different ways that each benefit a niche.

All our financial and shipping economies so needed southern cotton in

order to flourish. Otherwise, there couldnt have been much to be gained
otherwise. For the future, eager acceptance of new practices is essential for both
expansion and survival. However, someone has to introduce it to everybody else.
But what has been some of the biggest stumbling blocks the country has yet to
fully overcome, is racism and sexism. Slaverys legacy left behind a huge black
population that must be accounted for and kept in mind.

In conclusion, government serves as an asset for whenever we need to

define and protect rights to property. The danger comes when change is handled
and enforce by big business and firms that no longer serve the good of the public.
Although the global economy is as healthy as its ever been, division of classes and
distribution of wealth has worsened and become more unequal. Nowadays, our
production is no longer emphasizing the necessities of life. A large portion of it
consists of former luxuries from decades back. In the end, you cannot measure
human capital. With it, material necessities can be made for those who need it. A
tribe has enough human capital to sustain it, but not enough to create cities or a
global society.

In order to further encourage Americas economic growth, institutions and

technologies must be adapted to fit the times. Out of all the societies, our
productivity is arguably the most immense. Sometimes we build and contribute
inadvertently, and other times with great ambition and purpose. Future generations
are left with the responsibility to continue process for an indeterminable amount of
time. So long as there is good management and some luck, further growth may be a
reality, and hopefully wont grind to a halt.