Both Sides Can Cite This
According to The Wall Street Journal's review of The Half Has Never Been Told by Edward E. Baptist:
For example, the Consolidated Association of the Planters of Louisiana—a local bank chartered in 1827—enjoyed a lucrative relationship with Baring Brothers of London, a firm that lobbied successfully to persuade the Louisiana legislature to back the association's bonds with public credit. Thus if the association failed to pay off its bonds, Louisiana's taxpayers would be liable for the debt. Baring would eventually handle some $2.5 million in bond sales for the association, marketing to clients in Britain as well as the European continent.Both sides in the debate on whether slavery is capitalist or not can cite the above.
- Liberals: See? I told you so. Governments bail out businesses just like capitalism.
- Conservatives: See? I told you so. Governments bail out businesses just like liberalism.