USA HISTORY

Detailed explanation-1: -Although slavery was highly profitable, it had a negative impact on the southern economy. It impeded the development of industry and cities and contributed to high debts, soil exhaustion, and a lack of technological innovation.

Detailed explanation-2: -The racial wealth gap begins with slavery itself, which was a huge wealth generator for White Americans. The economic value of the 4 million slaves in 1860 was, on average, $1, 000 per person, or about $4 billion total. That was more than all the banks, railroads and factories in the U.S. were worth at the time.

Detailed explanation-3: -Free labor refers to situations in which laborers offer their skills, services, and time for a minimal amount of money or no payments. Slave labor refers to forcing laborers to provide their skills and time in the production of goods and services against their will and with no payment at all.

Detailed explanation-4: -Since profits were the main cause of starting a trade, it has been suggested, a decline of profits must have brought about abolition because: The slave trade ceased to be profitable. Plantations ceased to be profitable. The slave trade was overtaken by a more profitable use of ships.