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Economics of Slavery Assignment
Economics of Slavery Paper
In the article The Economics of Slavery in the Ante Bellum South, Conrad and Meyer argue mainly that forces of economics may often promote the continuation of slavery. According to the duo, slavery was in the ante bellum South was indeed productive as a means of production (Conrad & Meyer, 1958). They did not incline to the position that slavery was an institution that would clear out on itself. Rather, in their view, the economy was more viable with the availability of slave labor. This form of labor was very efficient and cheap and provided a good investment for farmers in the South.
Conrad and Meyer also argue that the rising cost of slaves reflected an economy that was doing well. Their stance was that the rising prices were due to the high productivity of the slaves. This productivity helped to improve the economy and lower the prices of goods (Conrad & Meyer, 1958). To them, slavery was economically viable and many people preferred to invest farming than in others sectors of the economy. An important argument made by the duo is that the institution of slavery was very lucrative.
Conrad and Meyer view slavery from the economic point of view and conclude that the rate of returns in this investment were as high as 13%. This was a better investment as compared to other forms of investment such as manufacturing (Conrad & Meyer, 1958). The owner of a slave did not invest much but got high returns. For this reason, and other economic forces, slavery was bound to continue. It would not abolish itself as other people argued. They revealed a direct relationship between slavery and economic development, which led to the conclusion that economic forces would ultimately promote the slavery institution.................GET A PLAGIARISM FREE COPY