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Slavery And The Slave Trade

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The phenomenon of new world slavery was a well-run business and the slaves were the product. Slavery was one of the few industries in history where assets exceeded liability and owner’s equity, which is an unusual occurrence considering the equation is normally that assets equal liability and owner’s equity. Throughout this essay, the rise of slavery and the slave trade will be explained and slavery will be illustrated as the product of a domino effect. Slavery was a process and it took many people and pieces to fall into place for it to become the most profitable industry in its day, progressing over a 400-year time span. The economic analysis in this paper will show that the ideology of slavery in the new world came after the economic incentive. First, it is important to lay out the numbers to show the logic that was used to rationalize slavery. According to Beckles, A voyage to capture slaves in the 1700’s cost between $194,000 and $336,000. For the sake of this example the median $265,000 will be used to represent the total cost of voyage in the 1700’s. Each voyage roughly consisted of the following costs. Many people were involved in setting up joint stock companies similar to a modern hedge fund with participatory units, to raise the capital for the slave trade and were given deeds and monopoly privileges to decrease risk of their finances. The whole point of the trip was to collect the assets, which were the slaves. The cargo on the ship was the payment for

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