Already in ancient Egypt, Mesopotamia, Greece there was a great number of people who were like slaves serving their owners. Most of the economically strong societies have found their power on the free work of slaves. Therefore, economy of the USA is not an exception. Particularly American South is a classical example of how slavery strengthened economy of the country.
According to the estimations before the Civil War the number of slaves who lived in the South of the country equaled to 4 million and their market values was approximately $4 billion (“Slavery in the United States”). Such figures clearly show that return rates on work of slaves were rather high. Other companies and businesses were not as worthwhile as business benefits from slavery or enterprises where slaves were used. Therefore, rich people who knew the values of slaves were strongly against abolishment of slavery and were searching for some rules and logic to protect the instilled inequality. Institutionalizing evil inequality gave many benefits to the rich. Therefore, people favoring abolishment of slavery had to wait long and to fight for it.
The rich landowners and businessmen understood the profitability of slavery right away from the very beginning of African American immigration to the country. Even though some of the economists predicted economic downfalls as a result of abolishment, those were rather attempts to keep institutionalized slavery. The rich owners of plantations were not eager to let their free working force go. Ideology and politics of the country had direction of using free slaves and making excuses in forms of negative predictions regarding economy of the country (Fogel 481). Therefore, those were not sheer economic considerations, but rather implications of ideological character.
Furthermore, even though many historians and scholars agreed that economics which was based on slavery was morally offensive, not many agreed to