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  1. How Capitalism Destroyed Slavery - Jonathan Pryor's web log
    1. How Capitalism Destroyed Slavery

How Capitalism Destroyed Slavery - Jonathan Pryor's web log

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How Capitalism Destroyed Slavery

From Ashishi's Niti, Capitialism and Slavery, and why they don't co-exist.

One point I'm surprised the author doesn't make is that slaves, being slaves, have minimal income, and thus can't buy anything. This reduces the market size, reduces the amount of money that can potentially be made, and slows down the normal capitalist cycle (you make stuff to sell stuff to make stuff to sell stuff... to get rich!).

Posted on 18 Feb 2005 | Path: /etc/ | Permalink
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