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by roenxi
116 days ago
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> Adam Smith famously wrote that slavery was economically detrimental way back in 1776. It still took nearly 100 years to abolish slavery... Slavery had basically been a thing for all of human history up to that point, and based on my discussions on HN many smart people don't believe a lot of what Adam Smith said. There are still a lot of basic economic ideas that would make people much wealthier that struggle to get out into the wild. With that perspective the near-total abolition of slavery in a century seems pretty quick. And it can't really be a social thing because it is clear from history that societies tolerate slavery if it makes sense. And we see what happened to the people who tried to maintain slavery over that century - they ended up poor then economically, socially and historically humiliated. |
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Adam Smith also differentiated between different levels of slavery - that Roman slavery was different than Serfdom was different from chattel slavery in the US.
It's worth noting that Adam Smith did not think total abolition was possible. One of his concerns about free markets was that people deeply desired control of other people, and slavery would increase as a byproduct of wealth.