Modern Evaluation
Historians and economists have debated the economic effects of slavery for Great Britain and the North American colonies. Many analysts suggest that it allowed the formation of capital that financed the Industrial Revolution, although the evidence is inconclusive. Slave labour was integral to early settlement of the colonies, which had too few people. Also, slave labour produced the major consumer goods that were the basis of world trade during the eighteenth and early nineteenth centuries: coffee, cotton, rum, sugar, and tobacco. Slavery was far more important to the profitability of plantations and the economy in the American South; and the slave trade and associated businesses were important to both New York and New England.
In 2006, the then British Prime Minister, Tony Blair, expressed his deep sorrow over the slave trade, which he described as "profoundly shameful". Some campaigners had demanded reparations from the former slave trading nations.
Read more about this topic: Slavery In Britain And Ireland
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