The Half Has Never Been Told: Slavery and the Making of American Capitalism – Edward E. Baptist

“The Half Has Never Been Told” by Edward E. Baptist presents a powerful reinterpretation of American slavery—arguing that the institution was not only morally horrific, but also foundational to the rise of U.S. capitalism. Drawing on slave narratives, plantation records, and economic data, the book shows how enslaved labor fueled wealth creation, cotton expansion, finance and investment, and the industrial age. Baptist highlights the brutal mechanisms of forced movement, work regimes, credit systems and land speculation that underpinned this economy. The result is a moving, richly researched account of how slavery shaped America’s economy, institutions and social structures.