One of the basic principles of mercantilism was that countries needed to have wealth in order to have power. What role did slavery play in the mercantile system?

Slave labor made it possible for industrialization to take place in Europe.
Europeans found that slave labor was quite inefficient and not profitable.
Slave labor enabled European countries to earn huge profits on crops grown in the Americas.
European countries spent all of their wealth on slaves, and their power diminished.

Question

One of the basic principles of mercantilism was that countries needed to have wealth in order to have power. What role did slavery play in the mercantile system?

Slave labor made it possible for industrialization to take place in Europe.
Europeans found that slave labor was quite inefficient and not profitable.
Slave labor enabled European countries to earn huge profits on crops grown in the Americas.
European countries spent all of their wealth on slaves, and their power diminished.