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. Our arguement is that even if the ignorance of the people of America continued, slavery would have been abolished based on the fact that the market was inefficient. 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 Fogel and Engerman'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 best way to prove that slavery was in fact an inefficient market because the assumptions of Fogel and Engerman are weakly based and in some cases rather short-sighted.
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.
Other 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.
Other Economic Complications
Social cost? Cost of all the people that protest Cost of government votes and time
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
