Accounts and Ledgers. Taking a business lens to the American Dream

Black August: Unpacking Resource Extraction and Business Ledgers in the Formation of America

Introduction

As we continue our Black August series, we delve deeper into the mechanisms of resource extraction and the ledgers of business that shaped America.

Dr Kimberly Douglass

and I began the discussion of accounts and ledgers over a year ago and I find that understanding these elements is crucial in deconstructing the economic foundations built on the exploitation of Indigenous lands and the brutalization of enslaved Africans. By examining these historical practices, we can better comprehend the systemic inequalities that persist today and work towards meaningful change.

This month, we will focus on deconstructing the American business model through the lens of Black Liberation. America, often celebrated as a land of freedom and opportunity, was built on a foundation of exploitation and inequality. From the violent colonization of Indigenous lands to the brutal enslavement of Africans, the country's economic success has been deeply intertwined with the commodification of people and extraction of resources.

Understanding Business Ledgers

1. What is a Ledger? A ledger is a comprehensive record-keeping system that businesses use to track financial transactions. It's essentially a book or digital record that chronicles all the monetary inflows and outflows, giving a detailed view of the company's financial health.

2. How Ledgers Work:

• Double-Entry Bookkeeping: Most modern ledgers operate on the principle of double-entry bookkeeping. This means every financial transaction affects at least two accounts: one account is debited, and another is credited. This system helps maintain balance and accuracy in the financial records.

• Organization: Ledgers are typically organized by account type. Each account tracks a specific type of transaction, such as revenue, expenses, assets, liabilities, and equity.

3. Common Components of Business Ledgers:

• General Ledger: This is the primary ledger that contains all the financial transactions of a business. It provides a complete record of the company’s financial activity and is used to prepare financial statements.

  • Sub-ledgers: These include detailed records of individual accounts that feed into the general ledger. Common sub-ledgers include:

    • Accounts Receivable Ledger: Tracks money owed to the business by customers.

    • Accounts Payable Ledger: Tracks money the business owes to suppliers and creditors.

    • Inventory Ledger: Keeps a record of the business’s stock and inventory levels.

    • Payroll Ledger: Details all payroll-related transactions, including wages, salaries, and employee benefits.

• Journals: Before transactions are posted to the ledger, they are recorded in journals. There are several types of journals:

  • Sales Journal: Records all sales transactions.

  • Purchases Journal: Records all purchases of goods and services.

  • Cash Receipts Journal: Tracks all cash inflows.

  • Cash Disbursements Journal: Tracks all cash outflows.

4. Importance of Ledgers:

• Financial Accuracy: Ledgers ensure that all financial transactions are accurately recorded, which is essential for preparing financial statements and reports.

• Accountability: They provide a transparent record of all financial activities, which helps in auditing and regulatory compliance.

• Decision-Making: Business leaders use the information in ledgers to make informed decisions about budgeting, investing, and strategic planning.

• Historical Records: Ledgers serve as historical records of a company’s financial performance, helping to track growth and identify trends over time.

Application to America's Historical Business Practices

In the context of America's formation as a business entity, ledgers played a crucial role in documenting the exploitation and commodification that fueled economic growth:

• Plantation Ledgers: Detailed records of enslaved individuals, including purchase prices, sale values, labor productivity, and breeding outcomes. These ledgers treated human beings as assets, reflecting the brutal realities of slavery.

• Land and Resource Ledgers: Records of land acquisitions, sales, and transfers, particularly those involving seized Indigenous territories. These ledgers documented the systematic displacement and exploitation of Indigenous peoples for economic gain.

Understanding how ledgers work and what they include helps us see how meticulous record-keeping was used to sustain and justify exploitative practices. By examining these historical ledgers, we can better understand the economic foundations of systemic inequality and advocate for justice, reparations and reparations.

Colonization and the Stolen Land

America's identity as a business entity is deeply rooted in the historical realities of colonization and exploitation, starting with the colonization of Indigenous lands. This aspect of American history underscores how the country was built on foundations of dispossession, violence, and economic exploitation.

1. The Colonization of Indigenous Lands: The establishment of the United States involved the systematic seizure of land from Indigenous peoples based on ¹the Doctrine of Discovery. Colonizers viewed these lands not as the homelands of vibrant, sovereign nations but as commodities to be acquired, exploited, and profited from. This process of land theft was justified through doctrines like Manifest Destiny, which framed the expansion of European settlers as a divine right and inevitable progress.

2. The Land as Economic Resource: Once seized, the land became a fundamental asset in America's economic development. It was parceled out, sold, and developed, often without any compensation or recognition of the original inhabitants. This exploitation of land paralleled the exploitation of enslaved Africans, both seen as essential to the economic engine of the burgeoning nation.

3. Reducing the Indigenous Population: To further consolidate control and reduce resistance, several strategies were employed to diminish Indigenous populations and their cultural identities:

• Boarding Schools: Indigenous children were forcibly taken from their families and placed in boarding schools designed to assimilate them into Euro-American culture. These schools aimed to erase Indigenous identities, languages, and traditions, weakening community bonds and reducing the population's ability to resist.

• Forced Registration and Blood Quantum: Policies such as the Dawes Rolls and blood quantum laws were used to define and limit who could be considered Indigenous. By imposing these arbitrary classifications, the government aimed to diminish the number of people who could claim Indigenous identity and rights. This reduced the collective power of Indigenous communities and facilitated further land dispossession.

• Forced Relocation and Population Control: Various policies, including forced relocation to reservations and deliberate underfunding of health and social services, aimed to control and reduce the Indigenous population. These measures caused significant suffering and dislocation, further undermining the ability of Indigenous communities to sustain their cultural and social structures.

Enslaved Africans as the Labor Source

America's identity as a business entity is not only rooted in the colonization and exploitation of Indigenous lands but also in the brutal exploitation of enslaved Africans as a fundamental labor source. This aspect of American history highlights how the country's economic foundations were built on the commodification and dehumanization of Black bodies.

1. The Enslavement of Africans: The establishment of the United States heavily relied on the forced labor of enslaved Africans. These individuals were forcibly taken from their homelands and brought to America under inhumane conditions, where they were sold as property. Enslavers viewed these individuals not as human beings but as commodities to be exploited for maximum economic gain. This dehumanizing practice was justified through racist ideologies that framed Africans as inferior and suited for servitude.

2. Enslaved Africans as Economic Resource: Once enslaved, Africans became a critical asset in America's economic development. Their labor was essential to the profitability of agricultural enterprises, particularly in the production of cash crops like tobacco, cotton, and sugar. Enslaved Africans worked in brutal conditions on plantations, with their physical bodies being directly tied to the wealth and economic power of slaveholders. This exploitation paralleled the seizure and development of Indigenous lands, both seen as essential components of the burgeoning nation's economic engine.

3. Forced Breeding and Labor Force Expansion: To further increase their labor force without additional costs, enslavers engaged in various practices to ensure a contiuos source of laborers such as:

• Chattel Slavery Being Perpetual: Laws ensured that the status of being enslaved was inherited through the mother, meaning children born to enslaved women were automatically enslaved, creating a self-sustaining labor force without additional acquisition costs.

• One-Drop Rule and Octoroon Laws: These racial classification systems were designed to categorize individuals with any African ancestry as Black and therefore eligible for enslavement, ensuring that mixed-race individuals could be kept as part of the labor force.

• Breeding Farms and Enforced Mating: Enslavers established breeding farms where enslaved women were forced to conceive and bear children. These children were born into slavery, significantly increasing the number of enslaved laborers available for agricultural and other labor-intensive work.

By understanding the role of enslaved Africans as the labor source, we gain insight into how deeply intertwined the exploitation of human beings was with the economic foundations of America. This historical reality underscores the ongoing disparities and systemic injustices that continue to affect Black communities today. Recognizing and addressing this legacy is crucial in our pursuit of justice and equity.

America as a Business Entity

1. Commodification of Resources and Labor: The transformation of land and people into commodities is central to the American business model. Enslaved people were treated as property to be bought and sold, while the land itself was turned into plantations, factories, and urban centers—all driving economic growth. This commodification extends to natural resources, which were extracted and exploited, often with little regard for environmental sustainability or Indigenous rights.

2. The Legacy of Wealth and Inequality: The wealth generated from these practices was concentrated in the hands of a few, creating stark economic disparities that have persisted and evolved into modern-day capitalism. Indigenous peoples and descendants of enslaved Africans have often been systematically excluded from the wealth and opportunities that this land and labor generated, leading to enduring cycles of poverty and marginalization.

To analyze America as a business entity, we can draw parallels between its foundational and operational aspects and standard business practices. Here's a breakdown from a business management perspective:

Business Classification

1. Type of Business:

• Conglomerate: If we view America as a business, it would be considered a conglomerate due to its diverse economic sectors, including agriculture, manufacturing, technology, services, and more. A conglomerate is a large corporation composed of multiple, seemingly unrelated businesses, which aligns with the vast economic diversity within the United States.

2. Business Model:

• Resource Extraction and Exploitation: America's early business model was heavily based on resource extraction (agriculture, mining, etc.), often relying on enslaved and cheap labor. This can be compared to modern corporations that rely on extensive supply chains and labor exploitation in developing countries.

• Expansion and Development: The business model also included expansion—territorial (westward expansion) and economic (industrialization)—which parallels corporate growth strategies involving mergers, acquisitions, and the development of new markets.

3. Market Position:

• Global Leader: In the global market, America is a leading player, similar to a multinational corporation with significant influence over international trade, finance, and politics. This leadership role is bolstered by its military, economic, and cultural power.

Business Creation Process

1. Formation:

   • Conceptualization: The United States was conceptualized with economic and strategic interests in mind, akin to identifying a market opportunity or niche in business. The initial colonization efforts were driven by European powers seeking new resources and wealth.

2. Capital Acquisition:

   • Initial Funding: Capital for the American "business" came from European investors and governments, similar to initial investments or venture capital in a business. This funding supported exploration, settlement, and the establishment of early industries.

3. Land and Resource Acquisition:

   • Acquisition Strategy: Just as businesses acquire assets, America expanded through the acquisition of land—often forcibly from Indigenous peoples or through treaties, purchases, and wars (e.g., the Louisiana Purchase, Mexican-American War).

4. Labor Force:

   • Human Resources: Enslaved Africans and later immigrant labor provided the workforce, analogous to staffing in a business. This workforce was crucial for the agricultural and industrial development that fueled America's growth.

5. Infrastructure Development:

   • Operational Setup: Infrastructure, such as transportation (railroads, canals), communications, and urban development, was established to support economic activities. This mirrors a business setting up its operational infrastructure, like manufacturing plants, offices, and logistics networks.

6. Market Expansion and Diversification:

   • Growth and Diversification: America diversified its economy into various sectors, such as agriculture, industry, technology, and services. This diversification reduces risk and increases stability, similar to a corporation expanding its product lines and markets.

7. Regulation and Governance:

   • Corporate Governance: The U.S. government functions similarly to a corporate governance structure, establishing laws, regulations, and policies to manage the economy, protect stakeholders, and ensure stability.

8. Profit and Distribution:

   • Revenue Generation: Like a business aiming for profit, America's economic policies have often prioritized growth and wealth generation, though the distribution has historically been unequal, favoring certain groups.

Deconstructing the American Business Model

America as a Conglomerate Built on Exploitation: America's formation and expansion can be likened to a conglomerate business model, marked by the systematic acquisition of land and labor. Indigenous lands were seized, developed, and commodified, while enslaved Africans were forced to provide the labor that fueled economic growth. This exploitation laid the groundwork for the country's wealth, yet it has also created deep and enduring economic disparities.

The Commodification of Land and People: The American business model has historically commodified both land and people. Indigenous territories were viewed as resources to be exploited, and Black bodies were treated as property. These practices are not just historical but continue in modern forms, reinforcing cycles of poverty and systemic injustice.

A Legacy of Inequality and Systemic Injustice: The wealth generated from exploitative practices was concentrated among a select few, systematically excluding Black and Indigenous communities from economic opportunities. This legacy of inequality persists, manifesting in economic disparities and social injustices that continue to impact these communities today.

The Lens of Black Liberation

This Black August, we will explore how the principles of Black Liberation can guide us in deconstructing and reimagining the American business model. Black Liberation emphasizes the dismantling of systems of oppression, the reclamation of dignity and autonomy, and the creation of equitable and just systems.

1. Historical Reflection and Education: We will delve into the historical context of America's economic development, examining how these foundations were built on stolen land and exploited labor. By understanding this history, we can better grasp the structural inequities that persist today.

2. Political Education and Awareness: Engaging in political education is crucial for recognizing the intersections of race, capitalism, and systemic injustice. We will explore the ways in which the American business model has perpetuated racial inequality and consider alternative economic systems that prioritize human well-being and social justice.

3. Community Building and Solidarity: In the spirit of Black Liberation, we will focus on building solidarity and community. This involves supporting mutual aid networks, advocating for reparations, and working towards policies that address historical injustices and promote equity.

4. Resilience and Resistance: Just as Black August honors the resilience and resistance of those who fought for freedom, we too must embody these values. We will engage in actions and discussions that challenge the status quo, advocate for systemic change, and envision a future where justice and liberation are achievable for all.

The Ethical Imperative of Acknowledgment and Reparation

Recognizing that America was built on stolen land and stolen people to exploit labor is crucial for understanding the country's current socio-economic structures. This acknowledgment challenges the narrative of American exceptionalism and the idea of the "American Dream" as accessible to all. It also raises important ethical questions about reparations, land rights, and the redistribution of wealth and power.

1. Land Acknowledgment and Indigenous Sovereignty: A growing movement towards land acknowledgment recognizes Indigenous peoples' ongoing relationship with the land. However, true justice requires more than acknowledgment; it involves supporting Indigenous sovereignty, land reclamation, and the protection of cultural and natural resources.

2. Economic and Social Reparations: Discussions around reparations for descendants of enslaved Africans and Indigenous peoples are integral to addressing the historical injustices that underpin modern economic disparities. These reparations are not just financial but also involve systemic changes to policies and institutions that continue to perpetuate inequality.

3. Education and Historical Truth-Telling: An essential component of acknowledgment and reparation is the inclusion of comprehensive education about the true history of America’s formation. This involves integrating the stories and experiences of Indigenous peoples and enslaved Africans into mainstream curricula, ensuring that future generations understand the full scope of historical injustices and the ongoing impact of these practices.

Conclusion

As we reflect on the historical exploitation and systemic injustices that have shaped America, it becomes clear that the path to true liberation and equity involves a thorough understanding and acknowledgment of these past wrongs. By deconstructing the American business model through the lens of Black Liberation, we can envision a future where justice prevails and the dignity of all people is upheld.

Reflective Questions:

1. How can we actively support efforts to acknowledge and rectify the historical injustices faced by Indigenous and Black communities?

2. In what ways can political education and community building foster a deeper understanding of systemic inequalities and inspire collective action?

3. What steps can we take to ensure that the principles of Black Liberation are integrated into our personal and collective efforts toward creating a more equitable society?

By engaging with these questions and continuing to educate ourselves and others, we can work towards dismantling the oppressive structures that have long defined America's economic and social landscape. Let's honor Black August by committing to actions that promote liberation and equity for all.

For more resources, tools, and information, visit our website: Liberation Education. Join us in the journey towards justice and become a part of our community dedicated to fostering meaningful change.

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This Black August, let's deepen our understanding, educate ourselves and others, and take actionable steps toward a future where liberation and equity are realized. Supporting Black and Indigenous businesses, engaging in political education, and fostering community solidarity are crucial steps in this journey. Together, we can honor the legacies of those who have fought for justice and work toward a more equitable and just society.

In solidarity and empowerment,

Desireé B Stephens

1. We will be going further into this and the role of the Church in the aquistion of lands through Christinization and global conquests during this month