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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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
Olmsted's description points to another aspect of the efficiency of plantations —
the extraordinarily high labor- force participation rate (share of the population in
the labor force). In the free economy — North and South — approximately one ...
One of the features of slavery which confused Olmsted was the extremely high
labor-force participation rate. With 67 percent of all slaves in the labor force,
nearly a third of the labor force was composed of untrained, awkward children.
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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