Comment by xhkkffbf
7 hours ago
Capital was actually a big part of it. The plantation owner didn't just need to capitalize the cost of the land, but the labor as well. When someone purchased a slave, they were paying up front for the remaining labor that could come from that body. This was often pretty expensive when the body was young. Before the Civil War, New Orleans was one of the biggest banking centers of the US because of all of the borrowing.
People often make the mistake that the labor was "free". It wasn't to the people who bought slaves. It wasn't even really free to the slave traders because of the cost of transport.
It was a horrible system in many ways, but it was also a outrageously expensive because of all of the banking and loans involved.
Reading this post made me wonder if there were "temp agency" type businesses for slaves. Having to own the labor would make your it very difficult to expand and contract your workforce.
Morality aside, it really doesn't seem like a great system.