Portside

Edward E. Baptist’s The Half Has Never Been Told: Slavery and the Making of American Capitalism details how financial speculation is baked into the American economy. Baptist explains 185 years ago, acquisition of slaves, like other "property", could be financed by mortgages; that bonds were sold to investors based on the value of those mortgages; and, securities based on enslaved human beings produced a “slave asset bubble” not unlike the 2008 financial crisis.