Study links modern capitalism to colonial slavery and sugar trade

A new study titled ‘The Roots of Capitalism: Slavery and the Sugar Trade’ by Prabir Purkayastha examines the historical connection between colonial slavery and the rise of modern capitalism. The research argues that the wealth and economic structures of Europe and the West were significantly built upon the exploitation of enslaved people and the trade of commodities such as sugar, which helped drive the Industrial Revolution.

Purkayastha developed much of this work while imprisoned in India's Rohini Central Jail between October 2023 and May 2024. The study is part of a new series on Historical Materialism aimed at analyzing the construction of the modern world through the lens of imperialism and national liberation struggles. The findings suggest that the economic prosperity of many European institutions, including banks and insurance companies, has deep roots in the historical slave trade.