WORLD 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: -Besides planting and harvesting, there were numerous other types of labor required on plantations and farms. Enslaved people had to clear new land, dig ditches, cut and haul wood, slaughter livestock, and make repairs to buildings and tools.

Detailed explanation-4: -In fact, slavery was not even meant to be profitable. Slaveowners were keener on flaunting their vast plantations and huge reserves of slaves than they were about profits and investment. Rational economic decisions were sacrificed for pomp and circumstance.