What is capitalism? Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by state. Most people are dependent on a capitalist paying them to survive through wage labor. Ask yourself this question: Are capitalist mainly white?
What is racism? Racism is prejudice, discrimination, or antagonism directed against someone of a different race based on the belief that one's own race is superior.
Racism is a particular form of oppression. It comes from the discrimination against a group of people based on the idea that some inherited characteristic, such as the color of their skin, makes them inferior to their oppressors.
When did race and racism come upon? They arose and became part of the dominant ideology of society in the context of the African slave trade at the dawn of capitalism in the 1500s and 1600s.
Racism, it's said, is as old as human society itself. As long as human beings have been around, the argument goes, they have always hated or feared people of a different nation or skin color. In other words, it is a part of human nature. However, this is not true. Racism has not always been around, it has been something that has continued to progress.
How do capitalism and racism tie together? Karl Marx believes the rise of capitalism caused the African slave trade. He said: "The discovery of gold and sliver in America, the extirpation, the enslavement and entombment in mines of the indigenous population of the continent, the beginning of the conquest and the plunder of India, and the conversion of Africa into a preserve for the commercial hunting of black skins are all things that characterize the dawn of the era of capitalist production" Karl Marx shows in "Wage Labor and Capital", how the economic and social relations of emerging capitalism thrust blacks into slavery, which produce the idea that if you were African you were a slave. "Slavery was not born of racism: rather, racism was the consequence of slavery."
Currently, there is still a wealth gap that keeps growing between white and black households, with the average white family now owning over 7.5 times as much wealth as the average black family.
Does racism have a role in the wealth gap? Don't you think it's easier for someone who is white to get a job or become more wealthy than those who are minorities? Jobs should be equally given. It should not be so hard to make a living.
If racism was created by the capitalist elites then in order to abolish it we must abolish class society. With a capitalist society there will always be an opportunity to keep racism going.
Sources: https://socialistworker.org/2010/10/21/the-roots-of-racism http://www.bolshevik.org/1917/no12/no12capitalismandracism.html https://www.ocf.berkeley.edu/~arihuang/academic/abg/slavery/history.htm