What are some of the economical advantages and disavantages of slavery?

Question

What are some of the economical advantages and disavantages of slavery?

Answer 1

Advantages:

Free workforce

Disadvantages:

Moral decline

Answer 2

Even though it sounds like there are advantages, there are not really any. Yes you say, free labor would be an advantage. Well, not really. People without an incentive to be productive other than fear, they will not be very productive. They will work, and no doubt work hard, hard work and productivity are not the same thing. Slavery breeds resentment for the slave owner, increasing shirking and potential for sabotage, it offers no incentive for maximizing production. Fair employment offers workers fair pay, with fair pay people are able to purchase the goods. Henry Ford paid his employees well because he wanted them to buy a Ford vehicle, and they did. It goes to the idea; increasing the velocity of money will boost the economy, either locally, regionally, or nationally.

One advantage, it creates a market for acquiring the best workers. Thus, only the best ones are sold and this allows for a consolidation of better workers in that particular labor market.

Regardless, any economic benefit the owner receives from owning slaves, fails to balance the negatives it has on a larger economic scale, the terrible dehumanization of people, and the political problems. It is wrong for everyone except the owner. No one benefits from it besides the owner.  

Answer 3

ADVANTAGES

Big corporations like Wal-Mart can exploit the fruits of slave labor and pass the savings on to its customers. More than half of the merchandise sold in the store is made in third world countries, many of which still allow slavery, or severely abuse prison labor, like China.

Smaller countries without enough money to build a decent industry may be able to incorporate slave labor (such as from prisons, etc.) to get its industry mobilized. The problem is that once a country starts using slave labor, they find it irresistible to keep using it.

DISADVANTAGES

Slavery is morally wrong

Any country that has slavery puts itself in jeopardy to have a really bloody revolt - such as what we had in the USA during the 1860s.

Slavery in the past leads to problems in the present and future. In the USA it has created severe tensions and racism (on both sides) between whites and blacks.

A country which becomes too dependent on slavery for its economy will eventually fail, because it will become so dependent on slavery that it will increase the amount of slaves, and eventually the slave population will outnumber the non-slave population, and revolt is inevitable.

Take it from Mr. Mackey (South Park) - Slavery is bad, m'kay?