4 ms·
Admittedly without support, I'd assume that slavery held back southern productivity. If you are making profit to support a lavish lifestyle relative to your lo
by ethbro 10y ago
Admittedly without support, I'd assume that slavery held back southern productivity.
If you are making profit to support a lavish lifestyle relative to your local peers and (crucially) there is no free market value of your laborers' labor, then what incentive do you have to apply innovation?
Some (cotton gin), but certainly less than a free (in all senses of the word) labor market where a shortage of workers leads to increased wages and a push towards mechanization.
- adwn 10y ago> Admittedly without support, I'd assume that slavery held back southern productivity. If you are making profit to support a lavish lifestyle relative to your local peers and (crucially) there is no free market value of your laborers' labor, then what incentive do you have to apply innovation? I agree. It is my understanding that the Romans were in a good position to develop a usable steam engine, but never had enough motivation to do so, because slave labor was cheaper.