Time on the cross: the economics of American Negro slavery
First published in 1974, Fogel and Engerman's groundbreaking book reexamined the economic foundations of American slavery, marking "the start of a new period of slavery scholarship and some searching revisions of a national tradition" (C. Vann Woodward, New York Review of Books).In an Afterword added in 1989, the authors assess their findings in the light of recent scholarship and debate.
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collected with respect to the prices of slaves and prices of cotton. In Phillips's
view, the inefficiency of slave labor made it a profitable investment only when
there was a conjunction of three conditions. These conditions were: 1, an
It was, therefore, to be expected that increases in production would generally be
associated with declining prices. Since advances in productivity caused costs to
fall, profits of planters may have been rising despite declining cotton prices.
in slave prices, given information on the cotton prices, the output of cotton, the
size of the labor force employed in cotton farming, the cost of slave maintenance,
and the market rate of interest. The values of all these variables for the post-Civil
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Time on the Cross created a sensation when it was first published, and received largely favorable notice. It claimed to break new ground with its cliometric study of slavery. A notable dissenter from ... Leer reseña completa