Summary ¿ Accounting for Slavery 106

Summary Accounting for Slavery

Summary ¿ Accounting for Slavery 106 Ñ A Five Books Best Economics Book of the YearA Politico Great Weekend ReadAbsolutely compelling Diane CoyleThe evolution of modern management is usually associated with good old fashioned intelligence and ingenuity But capitalism is not just about the free market; it was also built on the backs of slaves FoAgement They took meticulous notes carefully recording daily profits and productivity and subjected their slaves to experiments and incentive strategies comprised of rewards and brutal punishment Challenging the traditional depiction of slavery as a barrier to innovation Accounting for Slavery shows how elite planters turned their power over enslaved people into a productivity advantage The result is a groundbreaking investigation of business practices in Southern and West Indian plantations and an essential contribution to our understanding of slavery's relations. This book was eye opening and uite appalling in the detailed management of people Owners would place a capital value based on various traits; value created monetary reliance on their slavesOnce emancipation took place it still didn’t end The slaves were placed under contract but they were manipulated until in debt to the owners For example they would penalize their earnings for anything like being sick or lost time for any reason This uickly erased earningsStates like Mississippi would add additional laws around contracts to legally constrict their ability to really be free For example making vagrancy illegal renting land outside the city was illegal and dramatically restricted the ability to uit during contract terms Before emancipation plantation owners were meticulous in analyzing labor efficiently and human value; later they simply focused on keeping people working as much as possible; which lead to long grueling daysAlso former slaves were often tricked into poor contracts since many could not read or write They were not euipped to handle freedom; this allowed owners to stop housing and feeding them if they chose profit over efficiencyBeing free did not mean much immediately Debt peonage allowed plantation owners to manipulate their debt levels; which meant they could decide who stayed or who was let go Even if they were able to stay out of debt there were laws that constrained their choices And low and behold just like in 2020 there were campaigns using violence and intimidation of black voters; this helped bring southern planters to controlThe accounting efforts at that time appeared to be extremely detailed before and after emancipation; just a slightly different focus from the value of each slave and measuring human capital depreciation to supporting contract manipulation and complexity The economy of the region did not support capitalistic ideals after emancipation; it didn’t recover until the New Deal What is uite interesting is the South has largely remained a low wage region due to plantation owners refusal to increase wages for freedpeople at that time; that culture remains todayVery detailed book highlighting the link between efficient business practices and managing humans as capital There are business practices today that reflect these methods; that linkage was eye opening

Summary ↠ PDF, eBook or Kindle ePUB ´ Caitlin Rosenthal

A Five Books Best Economics Book of the YearA Politico Great Weekend ReadAbsolutely compelling Diane CoyleThe evolution of modern management is usually associated with good old fashioned intelligence and ingenuity But capitalism is not just about the free market; it was also built on the backs of slaves ForbesThe story of modern management generally looks to the factories of England and New England for its genesis But after scouring through old accounting books Caitlin Rosenthal discovered that Southern planter capitalists practiced an early form of scientific man. “A previous generation of historians described the rise of absenteeism as a catalyst for West Indian decline But examining the rise of absenteeism through the lens of business history offers an alternative to the decline thesis absentee proprietorship can be seen as an early case of the separation of ownership and management Business historians have long seen the separation of ownership and management as a characteristic of modern corporate governance albeit one with potentially high costs Reconsidering absenteeism through this lens reframed it as a sign of sophistication and managerial complexity As owners departed the sugar islands many continued to take an interest in plantation management Far from neglecting their operations men worked to develop management systems that enabled them to maintain control over great distances” 42 43“West Indian plantations thus present a brutal preview of the modern multi divisional organization Detailed account books offered visibility from the attorney’s office—or the proprietor’s desk back in England—while delegating operating responsibility and day to day management to those on the ground Regular reports enabled owners and attorneys not only to monitor their operations but also to think strategically about capital optimization and allocation” 48“Scholars have argued for years that slavery could be highly profitable and that some planters were adroit business people However advanced practices have often been interpreted as scattered exceptions in an otherwise backward economic system This account makes that interpretation untenable the list of innovations that structure my chapters includes almost every key development in the history of management during the period And the overarching portrait that emerges from studying these innovations is of slaveholding entrepreneurs benefiting from the circumstances of slavery” 191“My emphasis on control rather than its subversion is not meant uestion the resistance of enslaved people—indeed evidence for resistance is embedded throughout the account books I have studied Control and resistance are not opposites Control does not reflect a lack of resistance nor does it in any way signal consent To offer an adeuate account of chattel slavery historians need to acknowledge vitality of slave culture without romanticizing it or overstating its scope What enslaved people accomplished was remarkable but also dramatically circumscribed by systems of violence and surveillance To understand the significance of moments of resistance we need to comprehend the system that enslaved people sought to survive” 194

Caitlin Rosenthal ´ 6 Download

Accounting for SlaveryHip with capitalismSlavery in the United States was a business A morally reprehensible and very profitable business Rosenthal argues that slaveholderswere using advanced management and accounting techniues long before their northern counterparts Techniues that are still used by businesses today Marketplace American Public MediaRosenthal pored over hundreds of account books from US and West Indian plantations She found that their owners employed advanced accounting and management tools including depreciation and standardized efficiency metrics Harvard Business Revi. A lost history of American business; most histories of American management would start with Frederick Winslow Taylor and the business schools This book goes further back and shows management practices used on slave plantations The author argues that the slaveholders had sophisticated practices than are usually recognized The author was inspired to write this after doing lots of spreadsheet work at one of the big consulting firms That's an interesting comparison I read the book with a lot of that in mind and she revisits that idea again in the postscript But the book goes deeper than most people would want to go into the day to day of managing a plantation The author probably had to do this in order to get this published I'd be interested to read her perspective on management history broadly