Question

What impact did slaves have on the economy? Why were slaves so important to the economy?

Answer 1

Irrespective of the jobs that slaves did, slavery on the whole was profitable. The expense to planters for housing, clothing, and feeding slaves was considerably less than the value they produced. Estimates vary, but expenses associated with the maintenance of one field hand were probably half the value of the revenue the master received from the slave's labor. Profitability increased steadily in the first half of the nineteenth century, as prices for cash crops rose and the cost of keeping slaves remained level. The slaves themselves became a good investment. As cotton production expanded and the demand for slaves increased, their prices rose accordingly. The highest prices were paid for “prime field hands,” usually healthy young men in their late teens and twenties, but women with like agricultural skills were often sold for the same amounts. The enterprising slave owner bought and sold slaves for an additional source of income.

Answer 2

Thank you, this is very helpful but is there any way you can shorten it to basics? I can only use 2-4 sentences.

Answer 3

oh yeah

Slaves were important to the economy because, of the jobs they maintained.
A couple examples would a planter, or a blacksmith, or maybe an extra hand of help.
Profitability increased steadily in the first half of the nineteenth century, as prices for cash crops rose and the cost of keeping slaves remained level, slaves themselves became a great investment.

Answer 4

Thanks! i only have 1 final question: Why did many colonists support slavery even though they knew it was wrong?