Plantation owners, shipbuilders, and merchants connected with the slave trade accumulated vast fortunes that established banks and heavy industry in Europe and expanded the reach of capitalism worldwide.Eric Williams advanced these powerful ideas in Capitalism and Slavery, published in 1944. Years ahead of its time, his profound critique became the foundation for studies of imperialism and economic development.Binding an economic view of history with strong moral argument, Williams's study of the role of slavery in financing the Industrial Revolution refuted traditional ideas of economic and moral progress and firmly established the centrality of the African slave trade in European economic development. He also showed that mature industrial capitalism in turn helped destroy the slave system. Establishing the exploitation of commercial capitalism and its link to racial attitudes, Williams employed a historicist vision that set the tone for future studies.In a new introduction, Colin Palmer assesses the lasting impact of Williams's groundbreaking work and analyzes the heated scholarly debates it generated when it first appeared.

    ... Aside from its social and historical implications, Freedom Road is a high-geared story, told with that peculiar dramatic intensity of which Fast is a master". -- Chicago Daily News

    The title of the book, 'An American Dilemma', refers to the moral contradiction of a nation torn between allegiance to its highest ideals and awareness of the base realities of racial discrimination. The touchstone of this classic is the jarring discrepancy between the American creed of respect for the inalienable rights to freedom, justice, and opportunity for all and the pervasive violations of the dignity of blacks. The appendices are a gold mine of information, theory, and methodology. Indeed, two of the appendices were issued as a separate work given their importance for systematic theory in social research. The new introduction by Sissela Bok offers a remarkably intimate yet rigorously objective appraisal of Myrdal-a social scientist who wanted to see himself as an analytic intellectual, yet had an unbending desire to bring about change. 'An American Dilemma' is testimonial to the man as well as the ideas he espoused. When it first appeared 'An American Dilemma' was called "the most penetrating and important book on contemporary American civilization" by Robert S. Lynd; "One of the best political commentaries on American life that has ever been written" in The American Political Science Review; and a book with "a novelty and a courage seldom found in American discussions either of our total society or of the part which the Negro plays in it" in 'The American Sociological Review'. It is a foundation work for all those concerned with the history and current status of race relations in the United States.