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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Gray discounted slave breeding as a major source of profit. "[M]erely rearing
slaves for sale was not profitable, since [the] increase [in slaves] would constitute
by itself only a very moderate interest on capital. . . . Consequently it did not pay
The Level of Profits and the Capitalist Character of Slavery Strange as it may
seem, the systematic investigation of the average rate of profit on investments in
slaves did not begin until more than half a century after U. B. Phillips launched
Since advances in productivity caused costs to fall, profits of planters may have
been rising despite declining cotton prices. What is crucial, then, is not the
absolute level of prices, but the level of profits. An approximation to the
movement of ...
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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