The study of the history of capitalism at Cornell is fueled by insightful, big-picture questions, many of which were raised during the Nov. 15 roundtable discussion, 鈥淔rom Slavery to Trade, From Segrenomics to the Gig Economy: Approaches to the History of Capitalism at Cornell.鈥
鈥淐an democracy and capitalism survive? Can the economy be based on something besides extraction, besides enslavement, oppression and war?鈥 asked Louis Hyman in his opening statement. 鈥淭hese are questions we should be asking ourselves as we think about the future of capitalism and the history of capitalism.鈥
For most of the history of capitalism, the panelists noted, those who benefited were members of the white ruling class. Would it be possible to construct a capitalism based on inclusivity?
For interdisciplinary scholar who sees white supremacy (not racism) inextricably intertwined with capitalism, the answer is no. 鈥淐apitalism is a system but also an ideology,鈥 said Rooks, professor of Africana studies. 鈥淗ow do you tell the story of those on whom the house of capitalism has fallen? 鈥楬ow does capitalism shape your world鈥 is not a question that always makes it into academia.鈥
Slavery, and the end of slavery, is deeply entwined with the history of capitalism. 鈥淪ome came to believe that ending slavery would be an economic benefit because it鈥檚 not an efficient form of capital and they were ready to submit all their moral calculations to economic ones,鈥 said panelist , professor of history. 鈥淏ut attitudes about slavery were driven by many factors that can鈥檛 be disentangled from cultural and economic ones.鈥 He described the histories of capitalism, finance and slavery as parts of a Venn diagram that often overlap.
鈥淚s there a capitalism that鈥檚 not based on stealing land or people?鈥 asked Hyman, associate professor in the ILR School and director of ILR鈥檚 Institute for Workplace Studies. 鈥淚鈥檓 more optimistic than my colleagues, because the engine of capitalism today is not based on slavery.鈥
But panelist pointed out that the unregulated capitalism today has resulted in a massive gap of have and have nots, a situation that has arisen before. 鈥淲hat do you do with profits? Right now, there is no redistribution. How is society to be ordered? The wealthy didn鈥檛 achieve their status all by themselves; they benefited from societal goods, like roads. Do you pay back what society itself enabled you to achieve?鈥 said Greene, the Stephen 鈥59 and Madeline 鈥60 Anbinder Professor of African History and chair of the Department of History.
鈥淥ne way of understanding the history of capitalism is the continuous discovery of new things people, areas, concepts, ideas to be turned into market goods,鈥 said Baptist, pointing to Facebook as an example. 鈥淲hat is capitalism but a continuous series of finding new frontiers or bodies or land to be disrupted, things that are not market goods to be seized in one way or another and turned into market goods?鈥
Cornell鈥檚 History of Capitalism initiative is a collaboration between the Department of History in the 麻豆视频 and 麻豆视频, the ILR School, and faculty in other departments and programs across Cornell. The Nov. 15 roundtable, moderated by history postdoctoral associate Adrienne Bitar, was part of the American Studies鈥 Fall Colloquium series, 鈥淭he History of Capitalism: New Approaches.鈥
More News from A&S
Government
Social sciences
