January 17, 2022
- Today cotton is found everywhere, it is cheap and commonplace
- In the past it was rare and expensive – used as wall hangings not clothing
- If only there were a way to make large quantities of cotton textiles, great fortunes could be made
- Cotton become the driving force of the industrial revolution
- The potential of profits from cotton drove innovation
- Making textiles faster required numerous technological, political, and societal innovations
- The innovations involved banking, technology, military, urban planning, social relationships, and others
- At the time India was the source of the finest finished cotton goods
- India accounted for 25% of global manufacturing output
- Indian textiles reached Europe via Arab middlemen traders
- Voyages of Columbus and da Gama set the Empire of Cotton in motion
- Bypassed Arab middle men
- Sea routes were faster, cheaper, and could move more cargo
- Direct European trade with India was now possible
- Paid for with New World gold
- Edward Baptist’s War Capitalism Assertion
- Made possible by direct governmental military and economic intervention
- Subsidies to manufacturers
- Use of Royal Navy to protect sea routes and intimidate rivals
- In England: government seizure of land for factories
- In America: endorsement of slavery by inclusion in US Constitution
- In America: seizure of Native American land to expand plantations
- East India Company
- Originally just a trading company
- Became a de-facto government of the British Raj
- Wrote laws and issued currency
- Maintained enormous standing army
