I disagree with you, Jemele.
Slavery was an enormous moral evil, and it unquestionably generated wealth. Black Americans were also deliberately excluded from housing, credit and economic opportunities long after emancipation. That history is real.
But “slavery contributed to American wealth” is very different from “slavery is how America became a world economic power.”
Slavery existed throughout much of the world. What distinguished America’s eventual rise was not slavery, but what came after it: industrialization, abundant land and resources, immigration, entrepreneurship, technological innovation, enormous internal markets, relatively strong property rights and institutions, and eventually unmatched productive capacity.
And we have to be willing to discuss the present too.
At some point, constantly explaining Black economic underperformance through white supremacy becomes its own kind of intellectual prison. We have agency.
We once built Black Wall Streets under conditions dramatically worse than those confronting us today. We built businesses, banks, churches, schools and communities while facing actual legalized racial discrimination.
So where is that same economic solidarity now?
We should absolutely remember what was done to our ancestors. But remembrance cannot become an excuse for refusing to examine ourselves—our family structures, our educational priorities, our attitudes toward work, entrepreneurship, faith, discipline, ownership and whether we consistently support Black-owned institutions with our own dollars.
White supremacy is part of our history.
But, it does not get to become the permanent explanation for our future, and black Americans are not permanent victims.
America was built on the institution of slavery. It is how America became a world economic power — the buying and selling of people being tied to the economy. That is effectively white supremacy, since it was a race-based system.
Fast forward to other economic policies that were guided by race — housing, employment, etc. There were rules that prevented Black people from equally participating in the free economy.
In fact, one of the most glaring features of American capitalism is racial inequality. The racial wealth gap exists because specific policies were put in place to suppress economic participation.
So yes, capitalism is tied to white supremacy.