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Friday, July 31, 2020

Slavery and the History of US Economic Growth [feedly]

A  beautiful refutation of any remaining arguments that the slave-system in the South was "historically necessary".

.... from conclusion...
"
In short, the slave plantations of the American South were a success for the slaveowners, but not for the US economy. From a broader social perspective, slavery was a policy that scared off new immigrants, ignored infrastructure, and blocked the education and incentives of much of the workforce. These policies are not conducive to growth. As Wright puts it: ""Slavery was a source of regional impoverishment in nineteenth-century America, not a major contributor to national growth."

Slavery and the History of US Economic Growth

https://conversableeconomist.blogspot.com/2020/07/slavery-and-history-of-us-economic.html

 -- via my feedly newsfeed

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