The Inefficiency of Slavery

The Inefficiency of Slavery

History and Introduction to Slavery

There is no question that slavery was on of, if not the darkest stain on American history. It is not our debate of whether slavery was morally correct. I.a. II. Slavery as a market

How to Judge Efficiency

We will look at one of the most controversial books. Time on the Cross by Fogel and Engerman. Intro book. Explain ideas and 10 assumptions

Answering Fogel and Engerman

The best way to answer this question of efficiency is to look at F&E's data and evaluate. The book starts by listing ten assumptions that Fogel and Engerman observe before further evaluating the system and showing its efficiency.

The 10 Assumptions

1. Slavery was in the best interest of the Slave owners.

2. No evidence that economic forces would have stopped slavery.

3. Slave holders were not pessimistic before the Civil War.

4. Slave plantations produced 35% more than Northern one.

5. Slaves were not lazy, but in fact harder workers than white, especially immigrants.

6. Demand for slaves was going up in cities rather than decreasing.

7. Black families were not split up.

8. Working conditions for slaves were equal to hired workers.

9. Slaves Recieved 90% of income he/she produced.

10. Per capita income of the South really increased.

Oter Criticisms of Fogel and Engerman

• Just a couple of racists.
• This was a pointless study because slavery was done because of social problems. Regardless of its efficiency, it was socially and ethically immoral.

Response of the People

Describe the times. Describe how people felt. (Disagree, Agree, Indifferent, Spark any new Ideas?) Sales of book Developments--> kleometics

Cleometrics

Define. Show how it was bad and hindered real advances. [[1]]

The Efficiency

Obviously less efficient than regular capitalism. Without the outlandish Assumptions that Fogel and Engerman laid out they would have been unable to prove the market efficient.

Sources

• Time on the Cross
• Critic's articles