Economic Effects Of Slavery And Abolition US

Caleb Gebrezgiy Economic Effects of Slavery and Abolition U.S. Economic History

Slavery is a legal or economic system under which people are treated as property. While the system and laws may vary slaves are usually bought and sold. Slavery in America began when the first African slaves were brought to the North American colony of Jamestown, Virginia in 1616 to aid in the production of crops. Slavery was practiced throughout the American colonies in the 17th- 19th centuries, slaves
helped build the economic foundations of the new nation. The cotton gin, which was invented in 1793, only stressed the importance of slavery to the South’s economy. By the mid-19th century, America’s westward expansion, along with a growing abolition movement the northern states will provoke a great debate over the future of Slavery in the United States of America. Slavery will end up tearing the nation apart in the American Civil War (1861-1865). The Union victory ultimately freed the nation’s four million slaves but the legacy of slavery continued on in America’s history with the civil rights movement that emerged a century after emancipation. The profitability of slavery is an enduring question of economic history. The debate over whether slavery was good or bad for the economy has been going on ever since the emancipation. Intuitively a business that uses slaves should be profitable. You pay your workers nothing and reap the benefits of their labor. Slavery in the other hand although heavily favored individual businesses had more of a negative influence on the wider economic development of the country. Slavery had a negative effect to the nation’s economy it stifled economic growth in the South, it made it difficult to establish trading networks, but perhaps most importantly the direct impact on the use of slaves represented a terrible economic cost also an opportunity cost to the broader economy.
Reluctant workers who are inadequately trained to aid in the production of crops depleted soils more quickly.
Soil depletion is a process that occurs when the components, which contribute to fertility, are removed and not replaced, the conditions that support soil’s fertility are not maintained. Ultimately soil depletion leads to poor crop fields, which results in a huge economic loss. The only reason why this was this was such an issue was because farm owners used slaves to tend to their crops, the slaves were never trained effectively assuring that crops will not be depleted. Economically this was a huge loss because crops were not being handled properly so farm owners were not able to maximize from the production. Also another negative effect towards the economy with the use of slaves was scientific agriculture was impossible which is the application of soil and plant sciences to land management and crop production. More than half a century of American invention in harvesting machinery has contributed as much to the wealth of the world as power loons in manufactures and the railroad in transportation. The modern self-binding harvester was a blessing to farm owners in the North who were able to capitalize on the efficiency of the machine. The machine which runs from morning to night will have twenty acres cut and bound into bundles, this is the equal to twenty men doing a day worth of work but nowhere as efficient as the machine. Uneducated slaves who had no interest in
using new farming techniques that meant that Southern farms lost competitiveness to their northern counterparts. Slavery enabled the development of Southern capitalism in obscure ways. The Southern states found it difficult to establish trading networks because the skill level of the slaves meant that they were only able to grow a certain crop. Trade was virtually impossible within the South so slave-owners were producing crops on their own rather than buying it, as a result economic growth was stifled. Also if plantations specialized in a certain crop leaving themselves open to sudden drops in the market it was loss in income but by pursuing a range of economic activities would give you a steadier revenue flow to match their fixed costs. Many argue that the objective of slavery was never meant to seek profit, slave owners were more than willing to display their vast plantations and huge amounts of slaves to point that profits and investments was undermining it. To southern plantation owners displaying the amount of slaves you have was more important than the reason why they were brought in the first place. Perhaps the most important economic effect that has to be considered is the treatment of human beings as capital equipment. The direct impact on the utility of the slaves and the conditions that they were in represented a terrible economic cost. Also in the broader sense there was an opportunity cost to the economy. Depriving four million humans from economic freedom meant that four million people would not have a chance to contribute to the nation’s economy. Throughout the course of history we’ve seen notable inventions made by black African- Americans. One of the most important African-American Inventors is George Washington Carver; he was an American Scientist, and former slave. Mr. Carver developed a number of products from peanuts, sweet potatoes, pecans, and soybeans. His findings greatly increased the agricultural output and health of Southern farmers. Before Carver there was only one main crop in the South, which was cotton the products that Carter created helped diversify the Southern agricultural production. Another important invention this time to the health sector was the idea of a blood bank. It was pioneered by Dr. Charles Richard Drew an American medical doctor and surgeon was known for starting the idea of a blood bank and a system for the long-term preservation of blood plasma. Through a series of experiments he was able to conclude that that plasma kept longer than whole blood. Dr. Drew set up and operated the blood plasma bank at the Presbyterian Hospital in New York City it was the model for the Red Cross’ system of blood banks of which he became the first director. Dr. Charles Richard Drew’ ideas revolutionized the medical profession and saved countless of lives. The list goes on the number of inventions created by African-Americans is countless there were able to contribute to the country’s economy and strengthen it. Although Slavery may have made most plantations profitable because of free labor Economies, which used slavery, may, in the long run have been at a disadvantage.
Most importantly societies who used slaves were left behind. It was a practice that was outdated for its time, the industrial revolution was occurring and a number of inventions were being made the North took advantage of that and was able to prosper. The South on the other hand stuck with what it was doing for generations. Some might argue that evidence of the economic fall of the South after the war is a clear sign how important slavery was to the nations’ economy but in fact the South’s failure to change their ways of doing things was what ultimately destroyed their economy. The treatment of slaves in the United States was brutal and degrading. Whipping, execution, and sexual abuse of women including rape were common. Slaves were not allowed to become literate for fear of escape or rebellion Slavery was a barbaric act that took the rights away from millions. With the abolition of slavery and the civil rights movement the Unites States of America has come along away with it’s treatment of minorities. We as the human race has ways to go modern day slavery is still being practiced whether it is for economic reasons or religious
reasons.