- The standard belief is that slavery was about obtaining “cheap labor,“ yet nothing could be further from the truth.
- Slavery comes with high opportunity costs, which is why American slave owners depended upon several government regulations to subsidize their “peculiar institution.”
Original article: Understanding the Real Costs of Slavery: It’s Not Cheap labor
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.
Originally Posted at https://mises.org/
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