The transatlantic slave trade is often
regarded as the first system of globalization. According to French historian Jean-
Michel Deveau the slave trade lasted from the 16th to the 19th century. The
transatlantic slave trade was the biggest deportation in the history of the
world economy of the 18th century. Millions of Africans were torn from their
homes, deported to the American continent and sold as
Slaves(15-35 years age). It is estimated
that between 25 to 30 million people, men, women and children, were deported
from their homes and sold as slaves in the different slave trading systems.
Effects
in Africa
Slave trade affected seriously in
Africa’s economy as it undergone seriously lack of labor force. All the
production and agricultural related work disrupted. Overall development of
Africa shattered by slave trade.
Effect
in Europe
In Europe, effect of slave trade was
positive. From the profit of slave trade ‘Barclays Bank’ and ‘Lloyds of London’
constituted. A West Indian slave owner financed James Watt’s ‘steam engine’
