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Annotated Bibliography

Capitalisms Role in Accelerating Racism in America

Anthony Johnston
Professor Malcolm Campbell
English 1103
4/12/2016

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Annotated Bibliography
Adelman, Jonathan. The Demonization of American Capitalism Forbes.com. 2 Oct. 2014.
Web. 2 Feb. 2016.
The author of this article in Forbes Magazine provides a very different point of view than
most would agree to. He starts the article by introducing the many pre-conceived notions
about Capitalism, and backs these claims up with raw data. The author agrees that
Capitalism as a whole is a somewhat corrupt system that favors the top one percenters,
however he goes on to explain how Capitalism although very corrupt in its inception and
in todays society has benefitted the world greatly. He provides a well-written, easily
understood bias in favor of Capitalism. The author, Jonathan Adelman, is a professor at
the Josef Kobel School of International Studies at the University of Denver. He accepts
Capitalism for its brutal corruption, but praises it for the many contributions it has
provided to the worlds population. This source is special to me because it provides a
viewpoint very dissimilar to my own about the effects of Capitalism on the country. I will
be using this source to remember that Capitalism although self-centered on greed and
power, has brought many advancements in electronics, transportation, medicine, health
care, and the overall life span of a human.
Stockman, David. The Great Deformation: The Corruption of Capitalism in America.
thecatoinstitute, YouTube. 10 April 2013. Web. 4 March 2016.
In this short lecture by David Stockman, the corruption of Capitalism is explained in a
brief, concise video. The main point of the lecture was pointing out the governments role
in the fall of the free market and the exorbitant amount of debt that has been accrued by
both big business, and government spending. Stockman gave an excellent statistic saying

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that before the Lieman Brothers collapsed in 2008, the federal debt was about nine
hundred billion dollars and in seven weeks that debt had doubled. Basically, the interest
rate charged for every dollar accounts for what the price of money is. The government
controls the interest rate of the dollar so in turn all trades are based from the amount of
debt that can be made from that particular deal, and the United States controls all of the
debt. David Stockman is a former director of the Office of Management and Budget for
the United States of America, he is one of the most credible sources when it comes to the
area of finance in the US economy. He is also backed by the CATO Institute which was
founded in 1974 as a libertarian think tank for the greatest financial minds to come
together and talk about certain aspects of the American System. I will be making a few
references to Stockman in my inquiry because he is extremely credible and we both share
similar views on the Capitalist agenda that runs the country.
Scott, Bryan R.The Political Economy of Capitalism. Harvard School of Business 07-037
(2006): 1-28. Google Search Web. 24 Feb. 2016.
This academic journal is the most important out of the many sources I have collected
over this period of inquiry. Scotts real world applications of capitalism offer an in depth
look at capitalism in todays economy, and politics. Not only does the author delve into
the governments direct and indirect roles in capitalism, but he also offers exceptional
insight on the levels of capitalism. The three step view on Capitalism really helped me to
understand how Capitalism controls every aspect of a political system starting with the
ownership of property, and the ability to turn a profit from that property. Those
controlling the property are favorable in the eyes of the legislature and law making
consensus of the political system. In essence, Capitalism is a means to control every

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economic and political maneuver of a given system. I particularly like this source due to
its subjective nature. The source is based purely from the observations of the author and
examinations of the system of the United States dating back to Capitalisms origins.
Bruce R. Scott, a professor at The University of Harvards Business School, is an
invaluable source of information when it comes to the topic of Capitalism not only in
America but around the world. I will be using this source as a tool to provide specific
explanations of Capitalism being successful in the United States solely based from
racism.
Marable, Manning. How Capitalism Underdeveloped Black America: Problems in Race,
Political Economy and Society. Boston: South End Press, 1983. Print.
This is the most important source of all of them. The basis of the book is that through
Capitalism the large majority of wealth has been allotted to one group of people, and that
the groups of people not allotted the same wealth have been culturally devastated. The
author does this with providing many statistics and tangible numbers that prove the point
he is trying to make. For example, the only period when black employment was around
100 percent was during slavery. Things like Jim Crowe and the Convict Lease System are
among other disservices done to the African American community by racist Capitalism.
This source will be used to prove many of the generalizations I will be making about
Capitalism, America, and early whites. The author, Manning Marable, was a professor of
public affairs, history, and African-American studies at Columbia University. He has
written various other publications supporting these same claims I am making in my
inquiry.