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  • Essay / Slavery in the Slave Economy - 2029

    Decade: to 1775* (South) Prompt: Economic plantation system and indentured servitudeThe economy of the southern colonies was based on large plantations scattered areas dedicated to the export of commercial agricultural products. Growing staple crops such as rice, indigo, and tobacco was essential to the economic prosperity of the southern colonies. However, the widespread distribution of plantations, caused by the constant need to combat soil erosion, has slowed the growth of cities in the region. To operate the large plantations, southern settlers acquired a large workforce of indentured servants as colonial populations slowly increased through natural reproduction, Native Americans died rapidly from contact with Europeans, and the importation of African slaves was too expensive. Popularized by the right-head system, indentured servants migrated to the southern colonies, awaiting land at the end of their servitude. Yet as the amount of available land increased, indentured servants did not have access to it, as previously promised. Frustrated by their lack of land and low wages, 1,000 Virginia indentured servants went on a rampage of theft and pillaging in what would be known as Bacon's Rebellion. After Bacon's Rebellion, tensions between owners and former servants led to the search for a new, manageable workforce: African slaves. The royal African colony having lost its monopoly on the slave trade, the prices of African slaves were no longer expensive but rather affordable. The supply of slaves was also able to meet the needs of Southern plantation owners, as Africans were sent through the Middle Passage in a triangular trade. By the late 1750s, African slaves were now a commodity... middle of paper......the growth of the steel and oil industries meant that rapid growth was inevitable. By the 1900s, the United States was becoming the world's leading industrial power, with manufacturing output surpassing that of Britain, France, and Germany. The economy has grown on average at around four percent per year, due to a variety of factors. The growing population, combined with an advanced transportation network, meant an abundant labor supply for industries. Natural resources also played a role in enabling large-scale industrialization. Businesses thrived thanks to government policies protecting property and various loans, grants, and tariffs. In the 19th century, the belief that government regulation of business was extraneous contributed to the idea of ​​“laisser faire,” which originated with economist Adam Smith in The Wealth of Nations..