What are the Economic effects of the TRANS-ATLANTIC SLAVE TRADE in Africa?
This refers to the type of trade that involved three continents Africa, America and Europe. In this trading system, Africa was the source of cheap labor which was in the form slaves. America was the source of raw materials and Europe was the source of manufactured goods, hence the triangle.
The main participants were Britain, France, Holland and Portugal. There are various factors that contributed to the rise of the Trans Atlantic slave trade. The Trans Atlantic slave trade was a disaster to Africa. It is one of the factors which contributed to under development in Africa. The Economic effects of Trans Antlantic trade includes:
1. Removal of African labor; The Trans Atlantic slave trade was associated with the uprooting of many Africans who were taken to provide cheap labor on European plantations in America. The ones who were taken were between the ages of 15 and 35 who made up the productive force in Africa.
2.Stagnation of African technology; The Trans Atlantic slave trade contributed to the stagnation of African technology. It led to the flooding of European manufactured goods which were exchanged for slaves. Due to these goods , the Africans found it easier to sell their fellow Africans in exchange for manufactured goods hence they neglected production which led to the stagnation of African technology.
3. Decline of African agricultural production; There was decline in agricultural production due to the loss of labor. Those who were taken as slaves were the ones who were very active in farms, thus their removal led to shortage of labor consequently causing the decline in agricultural production.
4. Decline of African traditional industries; It contributed to the decline of African traditional industries due to the flooding of European manufactured goods. Due to these goods Africans abandoned production and exchanged their fellow Africans with the Europeans goods. The manufactured goods from Europe also destroyed African traditional industries by killing the market for African local goods.
5. Insecurity; The major item of trade during the Trans–Atlantic slave trade was slaves. The slaves were acquired through release of ambushing and raiding various villages, these activities contributed to insecurity which disrupted trade and agriculture.