Slavery

Art Carden, Phillip W. Magness, John Meadowcroft and Ilia Murtazashvili

Chapter 104 in Elgar Encyclopedia of Public Choice, 2025, pp 742-750 from Edward Elgar Publishing

Abstract: Few institutions have been as ubiquitous as slavery: it has existed in most societies for most of history and has largely disappeared in the last two centuries. Its endurance is surprising given that economic intuition suggests slavery should be less productive than free labor. Scholarship on slavery continues to evolve, with a split between historians writing a “New History of Capitalism” that attributes American and European prosperity to slavery and economists who disagree. We explore the economic analysis of slavery as it developed from Adam Smith through the Cliometric Revolution and on to today.

Keywords: Slavery; Public choice; Capitalism; Economic progress; Economic growth (search for similar items in EconPapers)
Date: 2025
ISBN: 9781802207743
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